PM Shehbaz Emphasizes Link Between Economic Development & Political Stability
PM Shehbaz Praises FBR and Economic Team for Collecting Additional Rs 72 Billion in Tax Revenue
ISLAMABAD: Prime Minister Shehbaz Sharif stated on Thursday that economic development is directly linked to political stability, stressing that a country’s economic strength is firmly rooted in its political framework. While chairing a meeting of the Special Investment Facilitation Council (SIFC), the prime minister highlighted the significant improvements in Pakistan’s macroeconomic indicators, attributing the progress to the tireless efforts of the economic team.
PM Shehbaz expressed confidence that 2025 would usher in prosperity and growth for the country. “For the first time since 2018, the inflation rate has been reduced to 4.1%, foreign remittances have increased by 34%, exports have surged, and foreign exchange reserves have risen from $4 billion to $12.5 billion,” he said. He also noted that the policy rate, currently at 13%, still had room for an additional 8% adjustment in line with inflation trends.
On foreign investment, the prime minister emphasized that Memorandums of Understanding (MoUs) worth billions of dollars had already been signed with Saudi Arabia, Qatar, and the UAE. He remarked that having achieved economic stability, the country had now entered the growth phase. “If we want to achieve economic development, we must focus on export-led growth… and we have no other option,” he added.
PM Shehbaz also acknowledged the efforts of the Federal Board of Revenue (FBR) and the economic team for collecting an additional Rs 72 billion under the Advance-to-Tax Ratio (ADR), which helped meet the government’s tax revenue target for December 2024.
Read More: PM Shehbaz Sharif Wishes Nation a Prosperous 2025
Furthermore, the prime minister praised the impact of the faceless interaction facility, which reduced the time duration for container inspection by 39%, offering significant relief to businessmen with a reduction of 89%. He also noted that the smuggling of sugar through Afghanistan had been completely eradicated, contributing positively to the national economy. The prime minister revealed that the national exchequer had received $0.5 billion from sugar exports and $4 billion from rice exports.
Addressing security concerns, PM Shehbaz emphasized the importance of overcoming terrorism for Pakistan’s future progress. “Security has become a big challenge today, and without crushing the menace of terrorism, we cannot move forward,” he said. He reiterated the full commitment of law enforcement agencies to counter the threats posed by terrorism.
The prime minister also congratulated the relevant stakeholders for the agreement between tribal groups to normalize the situation in Kurrum, while expressing deep grief over the loss of innocent lives in the region.
