Prime Minister Shehbaz Sharif has stressed the vital connection between political stability and economic progress, stating that a strong political framework is essential for a thriving economy. During a meeting of the Special Investment Facilitation Council (SIFC) on Thursday, the Prime Minister shared encouraging updates on Pakistan’s improving economic indicators.
Shehbaz Sharif expressed confidence that 2025 would bring even more prosperity and growth for Pakistan. He highlighted several significant achievements that demonstrate the country’s economic recovery. For the first time since 2018, inflation has dropped to 4.1%. Foreign remittances have surged by 34%, exports have risen, and foreign exchange reserves have increased from $4 billion to $12.5 billion. These gains reflect the efforts of Pakistan’s economic team.
The Prime Minister pointed out that the policy rate, currently at 13%, has room for a further decrease of up to 8% based on the current inflation rate. He also mentioned that recent agreements with Saudi Arabia, Qatar, and the UAE have attracted billions of dollars in foreign investment, giving a boost to the economy.
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PM Shehbaz underscored the importance of export-led growth, stating that it is the only viable option for long-term economic development. He praised the Federal Board of Revenue (FBR) and the economic team for their efforts in collecting an additional Rs 72 billion under the Advance-to-Tax Ratio (ADR). This achievement helped the government nearly meet its tax revenue target for December 2024.
Efforts to improve trade efficiency were also highlighted. Pakistan has reduced the time required for container inspections by 39%, and businessmen now benefit from an 89% reduction in procedural hurdles due to the introduction of faceless interaction facilities. Additionally, the government successfully curbed the smuggling of sugar through Afghanistan, achieving zero smuggling incidents. This allowed Pakistan to export sugar and rice, earning $0.5 billion and $4 billion, respectively.
The Prime Minister did not shy away from discussing security challenges. He acknowledged that combating terrorism remains a significant hurdle for Pakistan’s progress. “Security has become a big challenge today. Without crushing the menace of terrorism, we cannot move forward,” he remarked.
PM Shehbaz also appreciated the agreement reached between tribes to stabilize the situation in Kurram. While expressing grief over the loss of innocent lives in the region, he reiterated the government’s commitment to restoring peace and ensuring a safe environment for all.
These developments signal hope for a brighter future for Pakistan. With a focus on political stability, economic reforms, and enhanced security, the nation appears to be on a promising path toward sustained growth and prosperity.
