PM Shehbaz highlights Pakistan’s economic progress at WGS

(Web Desk): Prime Minister Shehbaz Sharif highlighted the current government's efforts to strengthen Pakistan’s economy, stating that the country is at a key point of economic change.

Addressing the World Governments Summit 2025 in Dubai, he mentioned that despite significant challenges, stabilizing the economy has been a major achievement over the past year.

He pointed out that inflation had dropped to 2.4% in January, the lowest in nine years, and interest rates were reduced to 12%, providing a boost to private sector credit.

“Economic stability is a means and not the end...Our five Es under National Economic Transformation Plan, Uraan Pakistan, is driving this change focusing on exports, e-Pakistan, environment and climate change, energy and infrastructure and equity and empowerment," he said.

He stressed that energy security and sustainability are critical priorities for Pakistan. The country is committed to achieving 60% clean energy by 2030 and plans to transition 30% of vehicles to electric mobility. Pakistan is increasing its use of solar, wind, hydropower, and nuclear energy. The southern regions of Pakistan have 50,000 MW of untapped wind energy, while northern hydropower projects will add 13,000 MW of clean energy. The government is also speeding up the adoption of solar energy by offering tax exemptions, investment incentives, and waiving customs duties on solar panels and related equipment.