\u201cPakistan\u2019s journey from darkness to light result of collective efforts,\u201d says premier
\nMonitoring Desk
\nISLAMABAD
\nPrime Minister Shehbaz Sharif said on Saturday that the country\u2019s economy was finally back on its feet and was ready to take off again following a year of dedicated efforts by the government\u2019s economic team.
\n\u201cPakistan\u2019s journey from darkness to light in a year is the result of a collective effort,\u201d the premier said while addressing a ceremony commemorating \u2018Youm-e-Tameer-o-Taraqqi\u2019 (Day of Development and Progress) as the government completed its first year in power.
\nHe highlighted that the financial sector had overcome significant challenges and was now on a path to sustained recovery and progress.
\nThe premier elaborated that the government successfully engaged with the International Monetary Fund (IMF) to secure a $7 billion loan programme which saved the country from declaring a default.
\nAlthough the nation faced challenges due to the IMF\u2019s tough conditions, he emphasised that the economy had now stabilized and was ready to move toward sustained progress and development.
\nPM Shehbaz said the salaried class had to suffer the most due to the IMF programme as it was now collectively paying Rs300 billion in taxes. He also paid special tribute to the salaried class for contributing such high taxes.
\nThe prime minister stated that the inflation rate had been reduced from 40% to as low as 2.4% in January 2025, leading to a decline in the policy rate.
\nHe urged the business community to support the government\u2019s efforts to stabilize the economy, emphasising that their involvement was crucial.
\nHe assured that the government would fully engage the business community in the policymaking process, as economic growth could not be achieved without consulting the private sector.
\nThe premier emphasised that the government was actively working to curb smuggling across the borders. \u201cBy legally exporting sugar to Afghanistan, the government secured $211 million in foreign exchange,\u201d the prime minister said, adding that this valuable revenue would have otherwise ended up in the hands of smugglers.
\nHe also acknowledged the dedicated and sincere efforts of the Pakistan Army and law enforcement agencies in helping to curb smuggling activities across the country.
\nRegarding the government\u2019s privatisation policy, the prime minister stated, \u201cWe are now moving towards a massive privatisation process, as the government has no role in business activities.\u201d<\/p>\n
He said terrorism had almost been eliminated from the country in 2018, however, due to the policies of the subsequent government, the menace had resurfaced in the country. <\/p>\n
\u201cWithout uprooting terrorism, the country could not attain the targets of growth and development,\u201d he added.
\nThe country, he said needed peace, stability, unity, prosperity and economic growth for which people belonging to all segments of the society would have to work together.
\nThe prime minister said he wanted to leave behind a legacy that set the country on the path of sustainable development.
\nHe also expressed confidence that the government\u2019s recently launched \u201cUraan Pakistan\u201d programme would become successful and achieve all its set targets.
\nSpeaking on the occasion, Finance Minister Muhammad Aurangzeb stated that the incumbent government\u2019s prudent policies had successfully reduced the inflation rate from a steep 40% to 2.4%. Additionally, the policy rate was lowered to 12%, easing the government\u2019s debt servicing burden.
\nHe emphasised that for the first time in the country\u2019s history, the government was rigorously implementing structural reforms, right sizing and pension reforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cPakistan\u2019s journey from darkness to light result of collective efforts,\u201d says premier Monitoring Desk ISLAMABAD Prime Minister Shehbaz Sharif said on Saturday that the country\u2019s economy was finally back on its feet and was ready to take off again following a year of dedicated efforts by the government\u2019s economic team. \u201cPakistan\u2019s journey from darkness to […]<\/p>\n","protected":false},"author":2,"featured_media":460386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-460374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n