Prime Minister Shehbaz Sharif commended his cabinet for steering Pakistan from crises while seeking $5 billion for IMF conditions with international help. Emphasizing economic growth targets and reforms, he announced a Ramazan aid package, while Foreign Minister Dar marked the end of diplomatic isolation. Key statistics include a current account surplus and improvements in various economic sectors, indicating a positive trend in governance and development.
In a cabinet meeting on Tuesday, Prime Minister Shehbaz Sharif expressed pride in his government’s achievements, noting their success in navigating the nation through multiple crises and avoiding bankruptcy, primarily with the support of friendly nations. He mentioned the need to secure $5 billion to meet IMF conditions, a task facilitated by bilaterally arranged financial assistance.
The Prime Minister praised his cabinet’s effort in averting default and outlined ambitious economic goals, including aiming for a $1 trillion economy by 2035. He emphasized the urgency of addressing state-owned enterprises’ losses, targeting a reduction of Rs850 billion incurred, and called for swift adjudication of pending tax cases amounting to Rs400 billion.
A notable initiative was the rollout of a Rs20 billion Ramazan package designed to assist four million families via a digital wallet system. The Prime Minister condemned the closure of the Gaza corridor for humanitarian aid, drawing attention to the significant casualties in Palestine and advocating for international support for both Palestine and Kashmir.
Foreign Minister Ishaq Dar declared an end to Pakistan’s diplomatic isolation, signaling the nation’s upcoming membership in the UNSC for 2025-26 and the resumption of major multilateral conferences in the country. He underscored the environmental challenges Pakistan faces due to climate change.
Minister for Finance Muhammad Aurangzeb reported marked economic improvements, highlighting a 71% return at the Pakistan Stock Exchange and noting that the current account surplus is the highest it has been in 20 years. He outlined measures for rightsizing government ministries and reforms in pensions and agriculture taxation that have catalyzed a 26% surge in FBR revenue.
Power Minister Awais Leghari discussed comprehensive reforms contributing to a massive reduction in industrial cross-subsidy costs, including the solarization of tube wells in Balochistan, projected to save the region approximately Rs100 million in losses. Meanwhile, Minister of State for IT, Shaza Fatima Khawaja, reported substantial growth in the broadband sector, highlighting the addition of 15 million subscribers. Planning Minister Ahsan Iqbal assured that the objectives of ‘Uraan Pakistan’ would materialize into concrete growth corridors under the Prime Minister’s leadership.
Further reports addressed various governmental functions such as smuggling prevention, the Green Pakistan Initiative, and contributions to agriculture and livestock sectors.
The cabinet meeting led by Prime Minister Shehbaz Sharif highlighted significant advancements in Pakistan’s economic stability and growth strategies, showcasing the government’s commitment to avoiding default and addressing state-owned enterprise losses. With robust economic indicators and innovative initiatives like the Ramazan package, the government is set on a trajectory towards a prosperous future. Furthermore, the end of diplomatic isolation signifies a strengthening of Pakistan’s international standing.
Original Source: www.dawn.com
