Stable economy ready to take off, declares PM Shehbaz

Prime Minister Shehbaz Sharif announced on Tuesday that Pakistan has successfully achieved economic stability and is now ready to take the next step towards sustained growth and development.

Speaking at a federal cabinet meeting, the prime minister emphasised that the "Udaan Pakistan" program would further solidify the country’s economic foundation, reported the 24NewsHD TV channel on Tuesday.

PM Shehbaz Sharif chaired the pivotal meeting of the federal cabinet on Tuesday, focusing on economic and security challenges as the nation steps into 2025.

Congratulating the cabinet on the New Year, the prime minister emphasised the importance of addressing critical issues to ensure national stability and growth.

The PM stressed the need to boost exports as a critical driver of future progress. He highlighted the government's successful crackdown on smuggling, which has yielded significant results.

PM Shehbaz Sharif also noted that economic targets for December had been met, with 89% relief provided to the business community.

Prime Minister Shehbaz Sharif said transformative plans to make Gwadar a hub for transit trade, bolstering the nation’s economic landscape.

Criticising the impact of political instability, Shehbaz Sharif said, "The politics of sit-ins and protests have caused irreparable damage to the economy."

Acknowledging the sacrifices of Pakistan’s armed forces, the prime minister praised their role in defending the nation and contributing to its stability.

The prime minister highlighted the elimination of sugar smuggling, crediting Army Chief General Asim Munir for his significant role in tackling this issue. "The smuggling of sugar has been reduced to zero, marking a key achievement in our fight against illegal trade," he said.

PM Shehbaz emphasised that economic growth over the past nine months is not just reflected in figures but also felt by the common man. "The testimony of economic progress comes from ordinary citizens who experience the change in their lives," he remarked.

He commended various ministries for their strides in e-governance, noting that these steps are laying the foundation for a more efficient government structure.

The prime minister also shared positive financial metrics, stating that revenue collection reached Rs 72 billion, a testament to improved economic management, while remittances for the current fiscal year have surged to $15 billion.

Prime Minister Muhammad Shehbaz Sharif on Wednesday expressed the hope that, due to the untiring efforts of the economic team, the government would achieve the economic targets in the next six months.

He prayed that the economic, political, and law-and-order crises that the world faced in 2024 would be overcome by positive progress in the new year.

He specifically appreciated the efforts of Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, and other cabinet members, along with the relevant government officials.

The prime minister also appreciates the efforts of Deputy PM Ishaq Dar, Governor State Bank of Pakistan, Finance Minister, and Chairman FBR for collecting additional Rs 72 billion under ADR (advance-to-tax ratio), due to which the government’s target of tax revenue for December 2024 had almost been achieved.

Similarly, he said due to funding by the Bill Gates Foundation of $6 million, the digitisation work of the Federal Board of Revenue (FBR) would become completely digitised.

He said during the first nine months of the government, no scandal surfaced, which reflected the government’s commitment to ensure transparency in all sectors.

As regards terrorism in the country, the prime minister vowed that the law-enforcing agencies were fully committed to halting the nefarious designs of the enemies.

Reporter: Awais Kiyani