Islamabad, November 18, 2024 – Prime Minister Shehbaz Sharif on Monday expressed optimism about the country’s economic trajectory, asserting that Pakistan’s economy is on the path to stability. He attributed recent positive developments, including brisk trading in the stock market, to the government’s decisive steps aimed at reviving economic health. Shehbaz emphasized that foreign investment serves as a testament to growing international confidence in the government’s policies.
During a briefing at the Prime Minister’s Office, Shehbaz was updated by the Ministry of Finance on key economic indicators and ongoing discussions with the International Monetary Fund (IMF) delegation. According to a press release issued by the PM Office Media Wing, the meeting delved into the current inflation rate, fiscal policies, and measures taken to curb tax evasion.
One of the key points discussed was the significant reduction in inflation, which has decreased from 38 percent to 7 percent. Prime Minister Shehbaz Sharif hailed this development as a major achievement of his government. He also highlighted the recent decrease in the interest rate from 22 percent to 15 percent, asserting that the move would stimulate business activities and create new job opportunities for the citizens.
While acknowledging the progress made, Shehbaz stressed that public relief remains the government’s top priority. He reaffirmed the government’s commitment to fulfilling its promises to the people, particularly in terms of alleviating inflationary pressures and fostering economic growth.
Shehbaz also lauded the country’s rising foreign reserves, attributing this growth to a surge in exports and record remittances from overseas Pakistanis. These factors, he noted, had positively impacted the country’s overall economic health.
In addition to economic recovery, Prime Minister Shehbaz Sharif commended the efforts of Punjab’s Chief Minister and the provincial government for implementing significant reforms in the agriculture sector, which have further contributed to the nation’s economic stability.
The meeting also focused on measures to tackle tax evasion. Prime Minister Shehbaz directed the relevant authorities to accelerate actions against tax defaulters and ensure that those facilitating such evasion are held accountable. He reiterated that all sectors must contribute to the national economy through taxes to enable sustainable growth and development.
“The country’s economy can only progress when all stakeholders fulfill their responsibilities. Every sector must play its part in driving national progress by paying taxes,” Prime Minister Shehbaz concluded.
The briefing was attended by several key government ministers, including Muhammad Aurangzeb, Ahad Khan Cheema, Attaullah Tarar, Dr. Mussadik Malik, and Ali Pervaiz Malik, alongside senior officials from the finance ministry.
