Islamaabad: Prime Minister Shehbaz Sharif has underscored the strong link between national peace and economic prosperity, stating that a stable environment is crucial for Pakistan’s progress.
“For economic stability, a conducive environment is requisite,” the premier said while addressing a meeting of the federal cabinet on Tuesday.
Pakistan, currently benefiting from the International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF) secured in September 2024, is making efforts to revive its economy. The country narrowly avoided a sovereign debt default last year, with foreign reserves insufficient to cover even a month’s worth of controlled imports in 2023.
Amid these economic challenges, Pakistan aims to generate revenue by expediting its privatization push. However, the government has faced difficulties in selling off state-owned enterprises such as Pakistan International Airlines (PIA) and outsourcing Islamabad International Airport.
PM Shehbaz paid homage to security forces for their sacrifices in safeguarding the nation. He specifically mentioned attending the funeral of Shaheed Lt Hassan Arshaf in Lahore, who laid down his life fighting against terrorism.
“Eradicating terrorism completely from Pakistan remains our mission,” the prime minister asserted.
Pakistan has been grappling with a surge in terrorist attacks, particularly in Khyber Pakhtunkhwa and Balochistan, since the Taliban returned to power in Afghanistan in 2021. According to the Pakistan Institute for Conflict and Security Studies (PICSS), January 2025 saw a sharp 42% increase in terror incidents compared to the previous month.
PM Shehbaz also highlighted the recent visit of Turkish President Recep Tayyip Erdogan, emphasizing the strong bilateral ties between the two nations.
“President Erdogan has always supported Pakistan on global platforms, particularly on the issues of Kashmir and Palestine,” he noted.
During the visit, both countries signed multiple Memorandums of Understanding (MoUs), and the prime minister urged relevant ministries to work towards achieving a $5 billion bilateral trade target.
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As a gesture of goodwill, a newly completed flyover in Islamabad—constructed in just 84 days—has been named after President Erdogan, reflecting the deep-rooted ties between the two nations.
The prime minister welcomed a recent Gallup survey which revealed that 55% of Pakistanis support the government’s pro-business policies.
However, he stressed the need for continuous efforts to implement the economic agenda, including initiatives such as ‘Uraan Pakistan,’ aimed at economic revival.
Sharing insights from his recent meeting with World Bank directors, PM Shehbaz stated that the delegation unanimously expressed satisfaction over Pakistan’s economic reforms and macroeconomic stability.
“Their appreciation is a testament to our collective efforts. Credit goes to every member of the cabinet for their dedication,” he said.
The government remains committed to its economic recovery plan, ensuring stability, and fostering international partnerships to drive Pakistan towards sustainable growth.
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