Islamabad: Prime Minister Shehbaz Sharif has called for collaborative efforts to drive export-led economic growth as a means to foster national development and prosperity. Chairing the 11th meeting of the Special Investment Facilitation Council, he linked economic stability with political stability, emphasizing the need for both to achieve the desired growth.

According to Ministry of Information and Broadcasting, the Prime Minister highlighted the government’s initiatives aimed at reducing electricity costs, which he identified as a critical factor for enhancing exports. He stressed the importance of rigorous law enforcement to boost revenue collection and curb tax system leakages.

Shehbaz Sharif underscored the necessity of peace and security for economic progress, noting the resurgence of terrorism in the country. He called for coordinated efforts between federal and provincial governments to combat terrorism and praised the sacrifices made by the armed forces and law enforcement agencies in this fight.

The Prime Minister outlined the government’s achievements in macroeconomic stability, citing a reduction in inflation to 4.1 percent post-2018 and a 34 percent increase in remittances over the past five months. He reported a rise in exports and an increase in foreign exchange reserves to 12.5 billion dollars, as well as a historic bullish trend in the Pakistan Stock Exchange.

Highlighting specific export gains, Shehbaz Sharif noted rice exports reaching four billion dollars and anticipated sugar exports generating around half a billion dollars. The sugar export success, he said, was due to measures against smuggling to Afghanistan.

Additionally, the Prime Minister acknowledged the efforts leading to a peace agreement in Parachinar and extended New Year greetings to the meeting participants.