Prime Minister Shehbaz Sharif, while addressing a ceremony on the 'Yaum-e-Tameer-o-Taraqi' event, reaffirmed his government's commitment to economic revival, tackling inflation, and ensuring national stability.
Federal ministers, parliamentarians, and key political and social figures attended the event.
The prime minister highlighted Pakistan’s transition from economic turmoil to stability, crediting collective efforts for the country’s recovery. He acknowledged the hardships endured by the people due to soaring inflation and assured them that the worst was over.
"There was a storm of inflation, and the common man faced difficulties. Our journey from darkness to light was not easy, but due to the nation's prayers and teamwork, we saved Pakistan from default," he said.
PM Shehbaz remarked that he did not want to blame the previous government, but added that inflation had reached 40% and a lot of difficulties were faced. “I thought that if the country defaulted, my tombstone will read his government led to default. I couldn't sleep thinking about default.”
He noted that Pakistan successfully negotiated a $7 billion agreement with the International Monetary Fund (IMF) in 2023, despite serious concerns.
Salute to salaried class
PM Shehbaz praised the salaried class for bearing a significant tax burden, stating that they contributed Rs300 billion in taxes.
"I salute our salaried citizens who shouldered the heavy tax load to support the country’s economy," he remarked.
Economic reforms and industrial growth
The premier reaffirmed his commitment to promoting business and industrial growth by curbing smuggling and ensuring investor-friendly policies.
"For the first time, law enforcement agencies have successfully curbed smuggling. Our industries suffered from illegal trade, but we imposed strict measures to stop it. Investors should not be treated unfairly," he noted, adding that interest rate had come down to 12% by 100%.
He also pledged to reduce taxes by 15% once economic conditions improve and emphasized the importance of public-private partnerships.
"The government’s role is not to do business but to facilitate it. We must hand over Pakistan International Airlines (PIA) and other state-owned enterprises (SOEs) to the private sector," he said.
Security and terrorism
PM Shehbaz expressed concern over the resurgence of terrorism, questioning how militancy returned despite its eradication in 2018.
"If terrorism is not eliminated, there can be no development. Our security forces are sacrificing day and night for Pakistan’s stability," he said.
He assured that the government, along with security institutions, is taking strict measures to restore peace.
Commitment to national progress
PM Shehbaz stressed the need for political and economic stability, saying that Pakistan has reached a take-off position for growth. He added that exports would be increased in consultation with the business community and industry taken forward.
"People call me by different names, but I don’t care. What matters to me is Pakistan’s progress and prosperity," he said.
He ended his speech by calling for unity and long-term commitment to national development.
"The country needs stability, prosperity, and economic growth. We are working with institutions for the first time, and together, we will build a better Pakistan," he concluded.
