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Next IMF programme will be Pakistan’s last, says PM Shehbaz

Prime Minister Shehbaz Sharif vows to ensure environment for the local and foreign investment in the country, announces to shut down ministries and institutions of poor performance



Next IMF programme will be Pakistan’s last, says PM Shehbaz
Next IMF programme will be Pakistan’s last, says PM Shehbaz

Islamabad: Prime Minister Shehbaz Sharif condemned the human rights violations in Kashmir and war in Palestine, praying for the public of both Kashmir and Palestine for their freedom.

The Prime Minister said that when they took power back in April 2022 the economic situation was quite clear before everyone.

He said the PDG government led by the PML-N saved the country from default. He mentioned President Asif Ali Zardari, PPP Chairman Bilawal Bhutto, Maulana Fazlur Rehman and others who he said played a role in saving the country from default.

The PM said the country is now heading towards economic stability and this situation demanded sacrifice from the powerful people.

He said when they took power again on February 8, 2024 they took measures to control inflation which was now at 12 per cent from 38 per cent.

The 22 per cent interest rate on the loans, he said, was now 20 per cent. Such development, he said, would bring investigation and the country would be all set for the path of development.

“Today, we have completed 100 days in power. You have seen yesterday that the petrol prices have gone. Almost “Sarhe 10 rupee” [Rs10.20} petrol price has gone down,” he said, hoping that there would be some relief for the layman.

He went on to say that during the four years, the people, especially the working class suffered a lot due to high-inflation. PM Shehbaz Sharif said they would work hard to bring down the inflation, to strengthen the businesses and to educate the youth and bring them to financial independence.

“This is our vision of Mian Muhammad Nawaz Sharif and efforts of our coalition government,” said the PM.

He urged the nation to learn from the past mistakes to avoid them in the future to lead the country to its lost stature.

“If the whole nation takes a decision to end the personal enmities and personal interests then soon there will be stage that was dreamt of by father of nation Quaid-e-Azam Mohammad Ali Jinnah,” said  PM Shehbaz, pointing out that they are very serious to make the dream of Quaid-e-Azam a reality.

He urged the nation for sincere efforts for the sake of the country.

The PM went on to say that his government would end the unnecessary expenses as PWD was closed down.

“PWD was among those ministries which are notorious due to corruption. The staff of this department was being paid around Rs2b annually,” said the PM, adding that there was huge corruption in it. He regretted that the tale of corruption was long.

“All such ministries and institutions which have become a burden on the public must be abolished. A ministerial committee has been formed in this regard, and in the next two months, I will come up with the positive results,” said the PM, adding that corruption through the taxes and the salaries was a big problem.

“I promise that I will take solid decisions within just one and half months in this regard,” said the PM.

He mentioned his recent China visit and strong ties between both the countries. He said he also visited Saudi Arabia recently and many commitments were made regarding the investment. The PM

He said that the UAE authorities promised $10 b investment in Pakistan while COAS General Syed Asim Munir also visited Kuwait, Saudi Arabia and UAE and returned with huge commitments of investment in the country.

“We  have made a proper system and the investment through the SIFC in different sectors will come within the next few months and years,” said PM Shehbaz.

But before that, he said, they needed to ensure an environment where local and international investment could be made.

“There are many capable investors in different sectors,” said the PM, adding that Pakistan needed to utilize its own minds and strength for the investment.

“By doing this, the foreign investment will come. For this, we need capacity, experts,” said the PM, adding that it was not present here in Pakistan but they ensured the capacity in the country, for instance, the digitization of the FBR.

“An international company was tasked for digitization of the FBR and I held a meeting yesterday in this regard. There should have been billions of rupees in revenue. Now Alhamdulillah, we have launched it. In the FBR, there were incompetent people and they were removed from their posts. And the best people have been brought to the frontline in the FBR. Now revenue collection has reached 30 per cent improvement. We will achieve the set targets of revenue collection in this new fiscal year,” said the PM, vowing to end corrupt practices.

“Where ever I go in the world I tell them with the humble suggestion that I have come to you for investment and not for the sake of loans. I think it is quite challenging but it could be achieved with the hard work,” said PM Shehbaz Sharif.

He said that they went to the IMF more than 20 times.

“If we strictly follow our plans we will achieve our targets. The program we are going to get this time from the IMF will be the last program. InshaAllah, we will make Pakistan stand tall among those countries who are currently ahead of it,” said PM Shehbaz Sharif.

He said the time has come now to do so.

“We will send 300,000 students every year to China for training in the IT sector. We will spread IT in the country,” said PM Shehbaz Sharif.

For industry, exports, and for agricultural and industrial products, he said, they cut down the electricity price.

“We have cut down around Rs10.50 in electricity price per unit. There will be relief of Rs200 billion and our exports will improve,” said the PM, defending the recent federal government budget.

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