Prime Minister Shehbaz Sharif has reaffirmed his commitment to economic stability and counterterrorism as the PML-N-led coalition government completes its first year in office.
Speaking at a special federal cabinet session, the prime minister emphasized that economic recovery required close coordination with allied nations and international financial institutions. He acknowledged the challenges faced in securing the International Monetary Fund (IMF) program, stating that both he and Chief of Army Staff General Asim Munir personally engaged with friendly countries to bridge the financial gap.
Efforts to Secure Economic Stability
PM Shehbaz Sharif revealed that Pakistan was on the verge of economic collapse a year ago, but the government’s efforts helped stabilize the situation. He criticized those who attempted to obstruct IMF negotiations by urging the lender not to approve Pakistan’s bailout program.
He credited Pakistan’s allies for their role in overcoming financial difficulties, highlighting:
1. Saudi Arabia’s decision to renew the oil facility for Pakistan.
2. UAE rolling over $2 billion in financial support.
3. Successful engagement with global financial institutions, including the World Bank, which now acknowledges Pakistan’s improving macroeconomic indicators.
Social Welfare Spending
The prime minister also announced a significant increase in the Ramadan relief package, raising the allocation from Rs 7 billion last year to Rs 20 billion. This initiative aims to assist 4 million families across Pakistan, including in Gilgit-Baltistan and Azad Kashmir, through a modernized distribution system.
Investment and Counterterrorism
PM Shehbaz underscored that a secure and stable Pakistan is key to attracting foreign investment. He stressed the need for unity, urging all stakeholders to work together for national progress rather than engaging in political rivalries.
With all state institutions aligned on national priorities, the premier expressed confidence that Pakistan’s development journey has now begun and that the economy will continue to improve in the coming months.
