Prime Minister Shehbaz Sharif has set forth an ambitious agenda to steer Pakistan towards economic independence, promising to end reliance on foreign loans and tackle the pressing issue of inflation that has burdened the nation’s populace.
Addressing the inaugural meeting of the newly formed federal cabinet, PM Shehbaz reiterated his commitment to breaking free from the shackles of international financial institutions, particularly the IMF. With determination, he declared his intention to navigate Pakistan out of the IMF program, signaling a shift towards self-sufficiency and economic sovereignty.
The premier’s remarks come at a crucial juncture as Pakistan prepares for discussions with the IMF regarding the second review of the $3 billion Stand-by Arrangement program. Despite this impending engagement, PM Shehbaz expressed confidence in Pakistan’s ability to negotiate from a position of strength, emphasizing the pursuit of alternative avenues for financial assistance and investment.
Highlighting the urgency of addressing Pakistan’s mounting foreign debt, PM Shehbaz outlined his vision of attracting investments from friendly nations rather than relying on loans. He stressed the importance of redirecting resources towards poverty alleviation efforts, advocating for a collaborative approach to national development.
In his address, PM Shehbaz underscored the need to reform the taxation system, particularly targeting wholesalers instead of burdening retailers already grappling with inflationary pressures. He also called for an end to subsidies for the elite, emphasizing the importance of prioritizing relief measures for the common citizens.
Acknowledging the severity of inflation as a pressing concern, PM Shehbaz affirmed his government’s commitment to alleviating the burden on the masses. He emphasized the imperative of curbing inflation as a top priority, signaling the government’s resolve to implement policies aimed at providing tangible relief to the people.
PM Shehbaz’s call for action resonated with a sense of urgency, as he emphasized the need for decisive measures to address the country’s economic challenges. With a clear mandate for reform, the new government under PM Shehbaz Sharif aims to usher in a new era of economic stability and prosperity for Pakistan, anchored in self-reliance and inclusive growth.
