Islamabad, December 13, 2025 — Prime Minister Muhammad Shehbaz Sharif on Saturday said Pakistan has successfully emerged from a severe economic crisis, crediting the relentless efforts of the current government and its economic team for stabilizing key macroeconomic indicators.
Addressing the launching ceremony of the National Regulatory Reforms, broadcast live on national television, the prime minister recalled that when the government assumed office, Pakistan was facing extraordinary economic challenges.
“We were on the brink of financial default. Inflation was soaring, the policy rate was stifling, and investment—especially foreign direct investment—was unimaginable. Businesses were in complete turmoil,” PM Shehbaz said. “Despite these daunting circumstances, we did not lose hope.”
He noted that through strong teamwork, strategic planning, and tireless efforts over the past one and a half years, the country has moved out of economic distress and is now positioned for sustainable growth.
Highlighting recent positive developments, the prime minister referred to the International Monetary Fund’s approval of a $1.2 billion tranche, calling it a vote of confidence in Pakistan’s economic direction.
PM Shehbaz emphasized that cumbersome rules, complex procedures, and excessive regulations had previously burdened industrialists, businessmen, and the wider public, severely damaging the business environment. He said the newly launched regulatory reforms would mark a “quantum jump” by reducing red tape, saving time and resources, and curbing corruption and nepotism.
The prime minister said the government was actively promoting foreign investment in high-potential sectors including agriculture, information technology, and mines and minerals, while also leveraging Pakistan’s large youth population through vocational training and internationally certified skills programs.
“These opportunities will enable our youth to secure productive employment at home and abroad, contributing to a more prosperous Pakistan,” he added.
He praised the coordination between federal and provincial governments in implementing reforms and thanked the UK government and International Development UK for their continued support. PM Shehbaz also reaffirmed Pakistan’s strong relations with Saudi Arabia, the Middle East, and the United States, expressing optimism for deeper mutual cooperation.
Speaking at the event, PM’s Special Assistant Haroon Akhtar said the reforms signaled Pakistan’s transition from a regulatory state to a developmental state, anchored on tariff rationalization, regulatory modernization, and export-led industrial growth.
UK Minister of State for International Development, Baroness Jenny Chapman, also welcomed the reforms, highlighting Pakistan’s entrepreneurial potential, natural resources, and strategic role in global trade. She noted that bilateral trade between the UK and Pakistan now stands at £5.5 billion annually, supported by strong people-to-people ties and the Pakistani diaspora in the UK.