Prime Minister Shehbaz Sharif Celebrates Economic Progress and Diplomatic Milestones
Prime Minister Shehbaz Sharif praised his government for successfully overcoming economic crises with international support during a cabinet meeting. He outlined plans for economic reform, highlighted significant achievements, including a record current account surplus, and condemned humanitarian issues in Palestine and Kashmir. Key cabinet members presented developments across various sectors, emphasizing a collective commitment to financial stability and national growth.
On March 5, 2025, Prime Minister Shehbaz Sharif expressed pride in his government’s success in navigating through significant crises and averting bankruptcy. During a cabinet meeting, he asserted that international friendships enabled financial assistance, integral to fulfilling the International Monetary Fund’s (IMF) conditions. The premier highlighted his administration’s commitment to transforming Pakistan into a $1 trillion economy by 2035, owing to their significant economic turnaround efforts.
Sharif emphasized the importance of addressing the Rs850 billion losses from state-owned enterprises, labeling these entities as ‘bottomless pits’ requiring urgent reforms. He also introduced a Rs20 billion Ramazan package aimed at providing assistance to four million families, emphasizing digital financial management. The premier condemned the blockade of the Gaza corridor and highlighted the humanitarian crisis faced by Palestinians and Kashmiris.
Foreign Minister Ishaq Dar announced that Pakistan’s diplomatic isolation had ended, with the country rejoining the UN Security Council for 2025-26 and hosting international forums after a 27-year hiatus. Additionally, Finance Minister Muhammad Aurangzeb noted that the Pakistan Stock Exchange had seen a 71% return and that current account surpluses were reported at their highest in two decades.
Aurangzeb mentioned ongoing measures to optimize governmental functions, including rightsizing ministries and introducing innovative tax reforms. Plans are underway for a faceless tax assessment system that has already yielded a 60% revenue increase.
Power Minister Awais Leghari discussed comprehensive reforms that led to substantial savings in industrial subsidies and the conversion of tube wells to solar energy, promising further efficiency in electricity distribution. Additionally, IT Minister Shaza Fatima Khawaja indicated that her sector contributed significantly to the national economy, with 15 million new broadband subscribers.
Conclusively, Planning Minister Ahsan Iqbal expressed optimism about the nation’s growth trajectory under the ‘Uraan Pakistan’ initiative, which aims to leverage strategic corridors for development. Reports concerning various ministries’ performance underscored collective efforts toward stability and growth across many sectors.
The cabinet meeting held by Prime Minister Shehbaz Sharif illuminated the significant economic progress achieved by Pakistan in the past year. Emphasizing reforms in state-owned enterprises and various sectors, he reiterated the government’s commitment to navigating the country toward financial stability and a robust economy. Furthermore, the renewed diplomatic engagement and infrastructural improvements signal a positive outlook for the nation’s future, as highlighted by key members of his cabinet.
Original Source: www.dawn.com
