ISLAMABAD: Prime Minister Shehbaz Sharif expressed optimism about the recent drop in inflation to single digits and anticipated further declines in the coming days. Speaking to a local news channel, he noted improvements in the central bank’s markup rate and emphasized that the government had taken necessary steps to stabilize the economy.
Acknowledging the difficult economic conditions when his government took charge, PM Shehbaz highlighted ongoing efforts to strengthen the economy. He stressed that while positive results are already visible, additional measures are required to sustain growth and eliminate favoritism. He reassured the public that they would soon witness more economic improvements.
The premier criticized the culture of political division, accusing the Pakistan Tehreek-e-Insaf (PTI)-led government of fostering hatred that harmed national unity. He stressed that mutual agreement and unity are essential for progress and urged political stakeholders to work together for the country’s betterment.
Regarding governance, PM Shehbaz reiterated the administration’s commitment to eliminating nepotism and implementing systemic changes. He also praised the military’s sacrifices for national security and called for collective efforts to ensure long-term development.
Federal Bureau of Revenue (FBR) Chairman Rashid Mahmood Langrial highlighted the need for cautious economic growth and structural tax reforms. He warned that uncalibrated growth could lead to economic deterioration and called for a balanced approach to development.
Pakistan, currently relying on the IMF’s $7 billion Extended Fund Facility (EFF), is striving to recover from its financial crisis. Despite narrowly avoiding a sovereign debt default, the country continues to struggle with low economic growth and unsuccessful privatization efforts, particularly regarding Pakistan International Airlines (PIA) and Islamabad’s airport.
