Islamabad, Prime Minister Shehbaz Sharif has mandated the preparation of an emergency action plan aimed at revitalizing Pakistan’s economy. The directive was issued during a meeting focused on strategies for economic growth and revival, emphasizing the government’s dedication to improving the nation’s financial health and fostering a favorable environment for investment and business development.
According to Ministry of Information and Broadcasting, the Prime Minister’s instructions highlight the urgency of addressing the economic challenges facing Pakistan. He articulated the need for decisive actions that prioritize economic revitalization, investment promotion, and support for the business community, especially small and medium-sized enterprises (SMEs).
In an effort to enhance economic stability, Prime Minister Sharif also called for immediate engagement with the International Monetary Fund (IMF) to progress discussions on the Extended Fund Facility (EFF), reflecting the government’s strategy to seek external support in strengthening the economy.
The meeting included a detailed briefing from the Finance Secretary on the current economic landscape, covering critical indicators, challenges, and avenues for recovery. Among the proactive steps already taken, the Federal Board of Revenue’s clearance of 65 billion rupees in tax refunds was announced, aimed at alleviating taxpayer burdens and stimulating economic activity.
Additionally, the Prime Minister urged the acceleration of the shift towards smart metering within the power and gas sectors to curtail line losses and enhance service efficiency. This move forms part of a broader initiative to modernize infrastructure and improve operational performance in key utilities.
The meeting, attended by notable figures including Senator Masood Malik and members of the National Assembly, concluded with a pledge to maintain an open dialogue and collaboration with stakeholders from various sectors. This collaborative approach is intended to devise a comprehensive strategy for sustainable economic growth and prosperity in Pakistan.
This initiative by Prime Minister Sharif signifies a proactive approach to economic management, emphasizing the need for rapid and effective measures to navigate the current economic challenges and set the foundation for long-term financial stability and growth.