Prime Minister Shehbaz Sharif Commits to Economic Growth, National Security, and Curbing Corruption

Prime Minister Shehbaz Sharif Commits to Economic Growth, National Security, and Curbing Corruption

February 17, 2025: Prime Minister Shehbaz Sharif said on Monday that inflation has now dropped to single-digit levels and expressed hope that this downward trend will continue in the near future.

Speaking to Geo News, Prime Minister Shehbaz Sharif praised the drop in inflation and mentioned that the central bank’s margin rate has also improved. He acknowledged that the country was in a difficult situation when his government took charge, but efforts were made to improve the economy. He added that while some positive results have already been seen, more efforts are needed to strengthen the economy.

Prime Minister Shehbaz stated that the government had already taken steps for improvement and was working to end the culture of favoritism. He emphasized that the government is committed to reviving the economy, although more work remains to be done.

He also mentioned that the public is now starting to see the benefits of a healthier economy.

Criticizing the culture of political divisions, the Prime Minister said it harms the country. He accused the Pakistan Tehreek-e-Insaf (PTI)-led government of fostering an environment of hatred and division, which negatively impacted the nation.

He pointed out that political disputes breed hate, which hinders the nation’s well-being.

On governance, the Prime Minister highlighted the government's efforts to curb nepotism and bring about systemic changes for the country's betterment. He urged government officials to work with integrity and dedication for the nation's progress.

Additionally, Prime Minister Shehbaz praised the sacrifices made by the military for the country's security and urged all stakeholders to work together sincerely for national development.

Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial also advised the government to move towards economic growth “cautiously and gradually,” acknowledging the need to reform the taxation structure due to high tax rates.

Langrial said, “If the pressure of growth is not calibrated correctly, it will deteriorate. There is an understanding among society and decision-makers that we need to move towards growth cautiously.”

Currently, Pakistan is navigating its recovery path with the help of the International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF).

Pakistan narrowly avoided a debt crisis in 2023, as its reserves were not enough to cover a month’s worth of imports. The country’s economy grew by a mere 0.92% in the first quarter of the fiscal year. Pakistan is now pushing to privatize its national flag carrier, Pakistan International Airlines (PIA), and outsource the capital’s airport, although these efforts have not been successful so far.