ISLAMABAD, (TDI): Prime Minister Shehbaz Sharif announced significant economic progress in Pakistan, citing a 34% surge in remittances over five months and a surge in foreign exchange reserves from $4 billion to over $12 billion.
Speaking at the Apex Committee meeting of the Special Investment Facilitation Council (SIFC) on Thursday, the Prime Minister declared 2025 a milestone year for Pakistan’s economic growth.
The meeting was attended by military officials, federal ministers, and provincial chief ministers.
Shehbaz Sharif introduced Uraan Pakistan, a homegrown five-year National Economic Transformation Plan aimed at positioning Pakistan among the world’s leading economies, as reported by state media.
The Prime Minister highlighted key achievements in the economic sector:
- Inflation has dropped to its lowest level since 2018, standing at 4.1%.
- Foreign remittances have risen by 34%, and exports have shown notable growth.
- Interest rates have decreased from 22% to 13%, with further reductions possible based on the inflation rate.
- The stock exchange has reached historic highs, signaling investor confidence.
He emphasized the role of political stability in fostering economic progress, stating that recent achievements were only possible through cohesive governance.
Shehbaz Sharif also outlined the government’s successful initiatives, including:
- Earning $4 billion from rice exports and $500 million from sugar exports.
- Preventing smuggling and implementing measures to curb illegal trade in petroleum products.
- Strengthening trade ties with Central Asian states and facilitating shipments to Russia through the National Logistics Cell.
- Advancing agreements with Saudi Arabia, UAE, and Qatar in various sectors.
- Securing Rs72 billion through Alternative Dispute Resolution mechanisms with banks.
The Prime Minister stressed the importance of reducing electricity prices and reforming the tax system to combat corruption and increase revenue collection.
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Addressing security challenges, he reaffirmed the government’s commitment to combating terrorism, which he described as a critical obstacle to progress.
“Without eliminating the menace of terrorism, we cannot move forward,” he stated, adding that law enforcement agencies are fully committed to ensuring national security.
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Shehbaz Sharif concluded by calling for sustained efforts to boost exports and maintain political stability to ensure long-term economic prosperity.
