PM Shehbaz Highlights Link Between Political Stability and Economic Growth
Prime Minister Shehbaz Sharif has emphasized the critical connection between political stability and economic progress, asserting that a nation’s economic strength is deeply rooted in its political framework.
Speaking at a Special Investment Facilitation Council (SIFC) meeting on Thursday, the Prime Minister acknowledged significant improvements in Pakistan’s macroeconomic indicators due to the diligent efforts of the economic team. He expressed confidence that 2025 would usher in further prosperity and growth for the nation.
“For the first time since 2018, inflation has dropped to 4.1%, foreign remittances have grown by 34%, exports have increased, and foreign exchange reserves have risen from $4 billion to $12.5 billion,” stated PM Shehbaz. He suggested that the current policy rate of 13% could be further reduced by 8% given the current inflation trends.
The Prime Minister highlighted the successful signing of multi-billion-dollar Memorandums of Understanding (MoUs) with Saudi Arabia, Qatar, and the UAE, signaling a surge in foreign investment in Pakistan.
He stressed the importance of focusing on export-driven growth, stating, “Export-led growth is the only path to sustainable economic development.”
PM Shehbaz also lauded the Federal Board of Revenue (FBR) and the economic team for collecting an additional Rs. 72 billion through the Advance-to-Tax Ratio (ADR), which helped nearly achieve December 2024’s tax revenue target.
Additional achievements include a 39% reduction in container inspection times and 89% relief provided to businesses through faceless interaction mechanisms. Efforts to curb sugar smuggling to Afghanistan have been successful, resulting in zero smuggling incidents, $0.5 billion in sugar exports, and $4 billion in rice export earnings.
On national security, the Prime Minister reaffirmed the government’s determination to eliminate terrorism, calling it a significant obstacle to progress. “Without eradicating terrorism, we cannot move forward,” he remarked.
He also commended stakeholders for mediating an agreement to stabilize the situation in Kurrum, while expressing sorrow over the loss of innocent lives in the region.
