Islamabad: Prime Minister Shehbaz Sharif has reaffirmed his administration’s commitment to driving economic growth and achieving fiscal stability in Pakistan, focusing on employment, expenditure reduction, and the eradication of financial malpractices.
According to Ministry of Information and Broadcasting, during a federal cabinet meeting chaired by Prime Minister Sharif in Islamabad today, he articulated a multi-faceted strategy aimed at bolstering the nation’s economy. Key areas of focus include providing productive employment opportunities, reducing government expenditures, and addressing the burgeoning circular debt in the gas and power sectors with a sense of urgency.
Prime Minister Sharif also emphasized the importance of enhancing revenue collection by combating evasion and corruption, and curtailing smuggling activities. He expressed a firm commitment to these goals, voicing confidence in the country’s path toward economic self-reliance.
Additionally, Sharif discussed the ongoing negotiations with the International Monetary Fund (IMF), asserting that the requirements and conditionalities of the IMF will be met promptly, and expressed optimism for the approval of Pakistan’s loan program by the IMF’s board. He stressed that this should be the last IMF program the country participates in, underscoring the goal of standing on its own economically.
Highlighting a significant achievement, Sharif noted the reduction of inflation to a single-digit figure of 9.6 percent in August, down from twenty-seven percent in the same period last year. He lauded the efforts of the Finance Ministry and other relevant ministries for this accomplishment, describing it as a major step toward economic stabilization.