PM Shehbaz Commends Government for Economic Progress and Diplomatic Gains

Prime Minister Shehbaz Sharif praised his government for preventing economic collapse with international support. He announced initiatives for financial assistance, reforms for state-owned enterprises, and plans to enhance Pakistan’s economy to $1 trillion by 2035. Additionally, Foreign Minister Dar declared an end to diplomatic isolation, while Finance Minister Aurangzeb presented positive financial trends, indicating a robust economic outlook.

On March 5, 2025, Prime Minister Shehbaz Sharif commended his government for effectively managing to steer Pakistan away from economic turmoil and potential bankruptcy, attributing this success to support from friendly nations. During a cabinet meeting assessing the government’s performance over the past year, he emphasized the importance of securing $5 billion in financial assistance to comply with International Monetary Fund conditions. He noted that both he and General Asim Munir sought external support to meet this crucial financial obligation.

The Prime Minister expressed pride in his cabinet’s efforts to avert default, stating, “the government succeeded in achieving the economic turnaround and steering the country out of the financial straits”. He reinforced his ambition to transform Pakistan into a $1 trillion economy by 2035. He also highlighted the need to expedite adjudications regarding pending tax cases amounting to Rs400 billion and addressed the pressing issue of Rs850 billion losses from state-owned enterprises, which he described as ‘bottomless pits’.

In conjunction with these efforts, PM Sharif introduced a Rs20 billion Ramazan package aimed at providing assistance to four million families through a digital wallet system. This initiative allows each family to receive Rs5,000, thus promoting better financial management. Furthermore, the Prime Minister condemned the blockading of the Gaza corridor for humanitarian aid and called for international awareness regarding the ongoing plight of the Kashmiri people.

Foreign Minister Ishaq Dar declared an end to the country’s diplomatic isolation, announcing Pakistan’s upcoming position on the United Nations Security Council in 2025-26, as well as the revival of multilateral conferences such as SCO in Pakistan for the first time in 27 years. Finance Minister Aurangzeb also provided an economic overview highlighting a 71 percent return on the Pakistan Stock Exchange and the highest current account surplus in 20 years, as well as plans for the rightsizing of ministries and pension reforms.

In addition, Power Minister Awais Leghari detailed extensive reforms resulting in a Rs151 billion reduction in industrial cross-subsidies, including the solarization of tube wells in Balochistan which aims to save Rs100 million in power losses. Meanwhile, Minister of State for IT Shaza Fatima Khawaja reported an addition of 15 million broadband subscribers, affirming a contribution of Rs341 billion to the economy from the telecom sector. Planning Minister Ahsan Iqbal expressed confidence in the execution of the ‘Uraan Pakistan’ initiative, aiming for sustained growth across five developmental corridors.

In conclusion, Prime Minister Shehbaz Sharif lauded the government’s accomplishments over the past year, underscoring a successful economic turnaround aided by international support. Key initiatives, including financial assistance programs and state-owned enterprise reforms, are pivotal to achieving substantial economic growth. Furthermore, the nation’s diplomatic recovery and positive trends in finance and telecommunications reflect a strategic move towards enhancing Pakistan’s economic stature.

Original Source: www.dawn.com