Islamabad: Prime Minister Muhammad Shehbaz Sharif praised the performance of his Federal Cabinet members during the last year and urged them to maintain their hard work and dedication toward achieving economic stability. Addressing a special meeting of the cabinet members at the Jinnah Convention Center, the prime minister highlighted that all major economic indicators were on an upward trajectory, reflecting the government’s successful economic turnaround.
The prime minister expressed satisfaction that, in the past year, no corruption cases or false allegations were leveled against his government, emphasizing the transparency and integrity of the cabinet’s operations. He urged his team to continue supporting the economically vulnerable segments of society, especially during the holy month of Ramazan. He announced a Rs20 billion Ramazan package, aimed at benefiting four million deserving families through a digital wallet system, ensuring direct aid without allegations of financial mismanagement.
Shehbaz Sharif also reflected on the government’s decisive action to prevent the country from defaulting, resulting in a successful economic recovery. The meeting marked a historic moment, as it was the first federal cabinet meeting to be attended by citizens and media representatives, with the proceedings broadcast live on national television.
The prime minister set ambitious economic goals, including transforming Pakistan into a one trillion-dollar economy by 2035 and achieving a $60 billion export target by 2029. He expressed gratitude towards coalition partners, including PPP, MQM, BAP, and IPP, for their unwavering support during challenging times.
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Discussing other key achievements, the prime minister highlighted the importance of resolving Rs400 billion in pending tax cases and tackling the losses of state-owned enterprises. He pointed to the significant reduction in inflation, which had been capped at under 1.6 percent, and reaffirmed his government’s commitment to sustainable economic growth.
The prime minister also condemned Israel’s actions regarding the closure of the Gaza corridor and expressed strong support for the people of Palestine and Kashmir, calling for international action to address these crises.
In his speech, Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar reflected on the economic challenges faced by the country and the steps taken to stabilize Pakistan’s economy. He noted that Pakistan’s diplomatic isolation had ended, and the country had secured significant international investments. He also highlighted the successful revival of multilateral international conferences, including the Shanghai Cooperation Organization (SCO) and discussions on girls’ education, hosted in Pakistan after nearly three decades.
Minister for Finance Muhammad Aurangzeb provided an optimistic overview of Pakistan’s economic performance, citing a 71 percent return on the stock exchange and the highest current account surplus in 20 years. He also pointed out the government’s reforms in tax collection, including the introduction of a faceless assessment system, which resulted in a 60 percent increase in revenues in a short period.
Minister for Power Awais Ahmed Leghari reported progress on energy sector reforms, including the reduction of industrial cross-subsidies and significant savings from efficiency measures in the energy sector. He also highlighted the solarization of tube wells in Balochistan, which is expected to save the power sector significant losses.
Other ministers, including Minister of State for IT Shaza Fatima Khawaja and Minister for Defence Khawaja Muhammad Asif, underscored the cabinet’s progress in their respective sectors, with the IT sector seeing substantial growth in broadband subscriptions, and the defense sector strengthening national security.
In closing, the prime minister reiterated the government’s commitment to addressing national challenges, strengthening Pakistan’s economic foundation, and fostering a culture of tolerance, compassion, and prosperity for all citizens. He expressed confidence that, through collective efforts, Pakistan would continue on the path to economic growth and stability.
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