PM Shehbaz accuses PTI of fueling economic instability, vows to strengthen Pakistan’s economy
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday accused Pakistan Tehreek-e-Insaf (PTI) of exacerbating economic instability in the country, while reiterating his government’s commitment to transforming Pakistan’s economic landscape. Speaking at the 26th National Security Workshop at the Defence University, the Prime Minister emphasized the critical link between economic stability and national security.
“If we are economically strong, our exports are growing, and the industrial sector is expanding, our economic security will naturally bolster our critical national security,” said Prime Minister Sharif. He underscored the need for a “Charter of Economy,” which he had proposed in 2018 as opposition leader. He added that the government was now ready to implement this vision.
The Prime Minister also advocated for the privatization of state-owned enterprises (SOEs), calling for the government to step out of business operations to save trillions of rupees. “The role of the government should be limited to facilitating private businesses,” he stated.
Sharif highlighted the Pakistan Stock Exchange’s historic milestone of surpassing 100,000 points, attributing this success to teamwork between the federal government and stakeholders. However, he pointed out that the market had briefly dropped by 4,000 points due to the instability caused by PTI’s protests in Islamabad.
While acknowledging the country’s economic challenges, Sharif also recalled that Pakistan was on the verge of default in June 2023. He praised the critical relief provided by the government’s agreement with the International Monetary Fund (IMF), despite the hardships it imposed on the public. “While this IMF program brings difficulties, we had no choice. I hope it will be the last such program for Pakistan,” he said.
Addressing broader issues, the Prime Minister expressed grief over the loss of 80,000 lives and $130 billion in economic losses due to terrorism. He also condemned the resurgence of terrorist activities, particularly recent incidents in Parachinar.
Regarding the PTI protest, the Prime Minister accused protesters of attempting to destabilize the economy. “Thousands marched with weapons, seeking to undermine the government’s efforts to stabilize the economy,” he said, vowing to protect Pakistan’s future through unity and collective action.
In a Q&A session, Prime Minister Sharif discussed tackling external and internal debt, economic growth, tax reforms, and addressing circular debt in the power and gas sectors. The event was attended by several key ministers, including Deputy Prime Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, and Planning Minister Ahsan Iqbal.
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