Islamabad, Prime Minister Muhammad Shehbaz Sharif has declared the government’s readiness to implement stringent measures to navigate the nation out of its prevailing economic crisis.
According to Ministry of Information and Broadcasting, the announcement came during a ceremony in Muzaffarabad where the Prime Minister distributed cheques to individuals affected by recent torrential rains and snowfall. He emphasized the government’s determination to exploit the country’s vast natural and agricultural resources fully, combat smuggling, power theft, and rectify the financial drain caused by State-Owned Enterprises (SOEs).
Highlighting the challenges in tax collection, Prime Minister Sharif noted that the current fiscal year’s target of 1.2 trillion is far below its potential, largely due to widespread tax evasion. He labeled tax evasion as a significant hurdle, pledging to address it to enhance the nation’s resources. The Prime Minister also pointed out that the government is resorting to borrowing even to pay employees’ salaries.
Acknowledging the urgency of the situation, he stated, “This is the right time to take tough and important decisions to resolve all key challenges facing the country.” He disclosed the enormous losses incurred by SOEs, including Pakistan International Airlines, which alone faces losses around 825 billion rupees, and annual losses of 500 billion rupees due to power theft.
Sharif urged for unity and the setting aside of differences for the national interest. Reflecting on the recent natural disasters in Azad Jammu and Kashmir, he expressed sorrow for the lives lost and pledged continued support for the Kashmiri people, reaffirming Pakistan’s solidarity with them in their time of need.
He announced financial assistance for the affected families, including two million rupees for the families of the deceased and varying amounts for those injured and for the repair of damaged houses.