No laxity to be tolerated in reforms agenda implementation: PM
PM pledged to rid the country of the International Monetary Fund (IMF), saying that the next deal for a bailout package with the global lender will be the last in the country’s history.
“The current IMF programme will be the last in Pakistan’s history,” the PM vowed while addressing the nation on Saturday.
At the outset of his address, he felicitated the nation on the eve of Hajj and Eidul Azha.
“We have completed our 100 days in the government. Pakistan witnessed a wave of inflation during last four years but we are committed to put the country on the path of development,” said PM Shehbaz.
He began by expressing his deep concern over the ongoing persecution in Gaza, revealing that 40,000 people have been martyred in the region. He emphasized the necessity for Palestine and Kashmir to attain their rightful freedom, noting the unprecedented atrocities committed in Kashmir.
In his address, the Prime Minister highlighted the contributions of key political figures, including Asif Ali Zardari, Bilawal Bhutto, and Maulana Fazlur Rehman, in navigating Pakistan towards a path of development and prosperity. He credited the collaborative efforts with Nawaz Sharif, Asif Zardari, and Fazlur Rehman for saving the country from economic default.
Sharif proudly announced a significant reduction in inflation, stating it has decreased from 38% to 12%, marking a major achievement for his administration. Reflecting on the past four years, he acknowledged the severe inflationary storm that impacted the country, causing immense suffering for the common man, widows, and orphans struggling to meet basic needs.
Highlighting the government’s accomplishments, the Prime Minister noted that on the completion of 100 days in office, the price of petrol was reduced. He assured the nation that Pakistan is now on a trajectory of recovery, moving towards economic stability and growth.
PM Shehbaz underscored the importance of unity and resilience, encouraging the nation to continue supporting the government’s efforts. He assured that the government’s focus remains on alleviating the hardships faced by the people and steering the country towards a brighter future.
Prime Minister Shehbaz Sharif has called for a forward-looking approach, emphasizing the importance of learning from past mistakes to reclaim Pakistan’s former glory. He urged the nation to focus on the future rather than dwelling on past grievances, promising concerted efforts to further reduce inflation and attract investment.
He reaffirmed his commitment to prioritising the welfare of the people over personal interests. He stressed the need to eliminate extravagant government spending and deemed it necessary to abolish ministries and institutions that burden the nation instead of serving the public. “Our primary focus is to eliminate lavish spending institutions that do not contribute to public service,” he stated.
Highlighting the urgency for economic reform, Sharif announced that significant decisions regarding the economy would be made in the next month and a half. He pointed out the rampant corruption within the Public Works Department (PWD) and underscored the need for stringent accountability measures.
Pakistan’s economic revival
The premier also acknowledged the vital support of international allies, naming China and Saudi Arabia as steadfast friends of Pakistan. He noted that the Army Chief’s recent visits to China, Saudi Arabia, and Qatar were part of broader efforts to foster investment and propel Pakistan towards rapid development and prosperity.
Sharif reiterated his commitment to serving the nation and making tough decisions necessary for Pakistan’s economic revival. He assured the public that his administration would prioritize transparency, efficiency, and public service in all governmental functions.
The Prime Minister underlined the strategic visits of the Army Chief to China, Saudi Arabia, and Qatar, which successfully attracted substantial investments. The UAE has committed to investing $10 billion in Pakistan, with a well-devised system in place to optimise these funds. He praised the Army Chief’s efforts in engaging with investors, expressing optimism about Pakistan’s economic future.
IMF program
“Getting rid of debt is challenging but not impossible,” the Prime Minister asserted, reflecting on Nawaz Sharif’s successful departure from the IMF in 2017. He promised that the current IMF program would be the last, contingent on continued investment and gradual debt reduction. “Everywhere I go, I emphasize that I am not here to ask for loans,” he stated, underscoring his commitment to economic self-sufficiency.
Government proposes 45% tax on non-filers in Budget 2024-25
PM Sharif announced a significant reduction in electricity prices for industries, with a decrease of 10.5 rupees per unit. This initiative aims to bolster industrial growth and reduce production costs, contributing to a more competitive market.
The premier also stressed the importance of bridging the gap between the rich and the poor, advocating for equitable economic policies. He highlighted the role of the Special Investment Facilitation Council (SIFC) in attracting foreign investment and fostering economic development.
Education emergency
Education remains a priority, with the establishment of the Pakistan Education Endowment Fund set to open educational opportunities for countless boys and girls across the country. This initiative aims to provide financial support to students, ensuring access to quality education and promoting human capital development.
He has also declared a state of emergency in the education sector, aiming to bridge the gap between the rich and the poor and emphasized the need for increased efforts to enhance agricultural production, ensuring a prosperous future for Pakistan.
The PM acknowledged that the journey ahead won’t be easy, but expressed optimism following the budget announcement, which led to an unprecedented boom in the stock market, reaching a record high of 76,000 points.
PM Shehbaz pledged to adopt frugality and simplicity in governance, honoring the sacrifices of martyrs who fought for the nation. He condemned any attempts to insult their sacrifices, labeling it as an act of enmity.
The Prime Minister identified political instability as the biggest obstacle to development and prosperity, applauding political parties that put aside their differences to save Pakistan
Prime Minister Muhammad Shehbaz Sharif on Saturday issued directives to all federal ministries to fully cooperate with the reforms agenda, warning that any laxity in implementation will not be tolerated. He was chairing an important meeting to discuss departmental strategic reforms in the federal government.
The prime minister emphasized that the government’s reform agenda focused on improving governance and providing better services to the people. The meeting was briefed on the Strategic Reforms Roadmap, and it was announced that a Task Management System was being introduced, which was in its final stages.
The meeting was also informed that professionals would be appointed to key positions in ministries and other federal institutions, and each ministry would prepare sectoral plans. Experts would be hired to develop a domestic economic development strategy. The meeting was informed that performance indicators would be developed to monitor the performance of the federal ministries.
