Prime Minister Shehbaz Sharif has vowed to take strict measures to achieve Pakistan’s economic goals, emphasizing that the current loan program with the International Monetary Fund (IMF) would be the last.
In his address to the nation, PM Shehbaz expressed satisfaction with the revenue collection for the fiscal year 2023-24, which saw a 30 percent increase compared to the previous year. He acknowledged the challenging new revenue targets set for the next financial year (2024-2025) and committed to efforts to enhance tax collection and eradicate corruption.
PM Shehbaz highlighted his efforts during foreign visits to seek investment opportunities rather than loans. He assured that the government would facilitate investments through the Special Investment Facilitation Council, focusing on agriculture, energy, and other sectors. He praised overseas Pakistanis for sending USD 3 billion in remittances last month, reflecting confidence in the government’s policies.
He emphasized the encouragement of the private sector to establish new industrial units and declared the government’s readiness to take ‘tough decisions’ for the country’s future. He stressed that the government would not tolerate any pressure and was prepared to make necessary sacrifices.
The Prime Minister outlined a five-year agenda for economic stability, promising honesty and strictness in pursuing the defined course of action. He pledged to eliminate bureaucratic red tape and use every saved penny for public welfare, calling for sacrifices from both government authorities and the elite.
Reflecting on the government’s 100-day performance, PM Shehbaz highlighted achievements such as reducing inflation from 38 percent to 12 percent, lowering interest rates on loans from 22 percent to 20 percent, increasing investment, and providing relief by reducing petrol prices by Rs 10.50 per liter. He noted that the reduction in petroleum prices would benefit the common man and contribute to easing inflation.