Prime Minister Shehbaz Sharif commended his government’s accomplishments in economic stability and diplomatic recovery during their first year. He emphasized the importance of foreign assistance for meeting IMF conditions and highlighted the introduction of social programs. Notable improvements were reported in the economy, with positive forecasts for various sectors.
On March 5, 2025, Prime Minister Shehbaz Sharif expressed gratitude towards his government for successfully navigating Pakistan through multiple crises during its first year, avoiding bankruptcy with external support. In a cabinet meeting, he underscored their efforts in securing $5 billion to meet IMF requirements by seeking assistance from allied nations, appreciating his cabinet’s efforts in stabilizing the economy.
The Prime Minister is optimistic about addressing the Rs400 billion tax cases pending in various courts and is focusing on mitigating Rs850 billion in losses from state-owned enterprises, which he described as ‘bottomless pits’. He also called for resolving the circular debt issue within the power sector.
Furthermore, the government has introduced a Rs20 billion Ramadan package to aid four million families, offering Rs5,000 per household through a new digital wallet system that aims to prevent financial discrepancies. Prime Minister Sharif condemned the humanitarian closure of the Gaza corridor and urged for global support for Kashmir and Palestine.
Foreign Minister Ishaq Dar announced an end to Pakistan’s diplomatic isolation, citing the successful attainment of a UNSC membership for 2025-26 and hosting of multilateral international conferences like the SCO after 27 years.
Minister for Finance Aurangzeb reported a significant 71 percent return at the Pakistan Stock Exchange and noted that the current account surplus is the highest in two decades. He also mentioned planned rightsizing for 43 ministries and pension reforms, resulting in a 26 percent revenue increase from the Federal Board of Revenue (FBR).
Power Minister Awais Leghari discussed initiatives leading to a reduction in industrial cross-subsidies and the successful conversion of 4,000 tube wells to solar energy, saving an estimated Rs100 million in losses. Minister of State for IT Shaza Fatima Khawaja reported 15 million new broadband subscribers, with the telecom sector contributing Rs341 billion to the economy.
Planning Minister Ahsan Iqbal remained confident in the initiative ‘Uraan Pakistan’ and its roadmap for five growth corridors. The meeting also included reports on the performance of the interior ministry, smuggling suppression, and contributions from the SIFC towards agriculture and livestock sectors.
In summary, Prime Minister Shehbaz Sharif highlighted his government’s achievements in enhancing economic stability, advancing Pakistan’s diplomatic standing, and implementing social programs. Key measures included securing foreign assistance to meet IMF conditions and addressing state-owned enterprise losses. Positive developments were reported in the stock market and telecommunications, alongside the introduction of initiatives aimed at poverty alleviation and sustainability.
Original Source: www.dawn.com
