PM divulged reforms agenda of economic revival; says country will be on coarse of progress

Pakistani Prime Minister Shehbaz Sharif on Saturday highlighted Government’s achievements during the first 100 days, revealed his five-year agenda of economics stability and public welfare, marking the tough decisions of abolishing corrupt or loss-making ministries and departments, expanding tax net and doing away with red tapism to achieve Quaid’s Pakistan.

The PM, in his initiatory address to the nation, said that the Government’s commonsensical economic policies had resulted in lower down inflation from 38 percent to 12 percent, Policy rate from 22 percent to 20% and repeated reduction in Petroleum prices with the latest one on Friday – Rs10.5 per liter reduction in petrol and Rs 2.5 per liter in diesel prices.

He claimed the country’s economic situation in April 2022, when the first coalition government took the charge, was in worst condition and the country was on the brink of welshing. PM Shehbaz Sharif pointed out that the PDM government under the leadership of the allied party heads including Muhammad Nawaz Sharif took tough decision and saved the country from falling into Levance at the cost of their political gains.

“As a result of our performance of 16 months in the previous tenure and 100 days in current tenure, today, Pakistan is slowly coming out of the crisis and moving towards stability and development,” he added

Shahbaz Sharif said that the government had also linnered a panoramic strategy to materialize the committed Foreign Direct investment in Pakistan’s various sectors including mines and minerals, agro based industry, information technology and others under Special Investment Facilitation Council. 

“But before that, we have to create such an environment that we should ensure the domestic investment. We have the best financial experts, businessmen, traders and industrialists who could boost the domestic investment and play role in the country’s development and prosperity,” he said.

He informed that the government was in progress to fully digitize the Federal Board of Revenue  system. The digitization of the FBR will help boosting the tax collection and reducing the departmental corruption,” he added

The Prime Minister said the business community had expressed satisfaction over the budget announced by the Federal government for the year 2024-25.  He also vowed to minimize the social differentiation, saying that without it the country cannot developed.

In May 2024, he said the overseas Pakistanis had dispatched over $3 billions of remittances which reflected their trust on the incumbent government.

The prime minister said the His government had established a Pakistan Endowment Fund under which the deserving children and students especially from remote areas of the country would be given free education.