Prime Minister Shehbaz Sharif is giving an address to the country in an effort to reassure the public about the economic policies of his administration and the federal budget 2024–25, which was announced earlier this week in the National Assembly.
“Everyone was aware of the dire economic situation when we took office, and we prevented the nation from going into default,” the prime minister stated.
The Prime Minister attributed the country’s economic recovery to the former Pakistan Democratic Movement (PDM) coalition and prominent PPP figures, including as President Asif Ali Zardari and Bilawal Bhutto Zardari.
PM Shehbaz expressed gratitude for his government’s cautious economic measures and claimed that the nation was now making progress after emerging from economic hardship.
“But this path is not only tough and drawn out, but it also necessitates sacrifice on the part of the elite and higher-ups in the government. The entire country is watching the administration to see how it manages Pakistan’s economic crisis and ushers in a prosperous revolution,” he continued.
PM Shehbaz said that as a consequence of the government’s initiatives, inflation has decreased to 12% from 38% since he retook power with the aid of the people’s support in the form of votes and trust.
In the same way, he declared that loan interest rates had dropped from 22% to 20.5%.
“This would promote development and cut down the volume of Pakistan’s debts and the country would continue down the path of prosperity at a faster pace,” stated PM Shehbaz.
The recent reductions in the prices of gasoline and diesel were subsequently described by PM Shehbaz as a “relief” for the masses affected by inflation.
But in the face of the “storm of inflation” that has “broken the backbone” of the impoverished class over the previous four years, he acknowledged that these actions were still insufficient.
The Prime Minister pledged to the country to continue relieving their suffering, reduce inflation, increase investments, and give young people access to higher education.
According to PM Shehbaz, if the entire country comes together on the idea that we must put an end to our personal hatred and ego and rise above the personal interest to serve the poor and destitute, then he promises that the dream of Quaid-e-Azam Muhammad Ali Jinnah and those who laid sacrifices in the making of this country will come true.
We pledge to the country that, if we work hard and uphold the values of sacrifice and selflessness, then no challenge will be able to stand in the way of realizing Quaid’s goal,” he continued.
The prime minister declared: “Instead of moping over the past, we should take lessons from it and restore Pakistan’s lost glory.” Insisting that “no one can impede our progress” with a spirit of sacrifice and dedication, he emphasized the commitment to realizing Quaid-e-Azam’s vision.
He stated that investment promises had been made and that the administration had created a plan to capitalize on and carry out the agreements, mentioning his recent travels to China and the Middle East.
Before allowing any foreign investment, the premier stated that the atmosphere must be favorable for local investment.
The prime minister promised that the future program would ideally be the last in the history of the country after the country carefully adhered to a likely impending program with the International Monetary Fund and the government met its goals.
“Then, in the race for progress, we will stand on our own two feet and leave our neighbors behind.”
According to PM Shehbaz, China would teach 300,000 Pakistani students in information technology each year and will further develop the industry in the nation.
He stated that in order to make the industrial and export sectors more competitive, power costs were lowered for them in a “historic step and quantum jump” that will lessen the Rs200 billion load that now falls on them.
He said that the Pakistan Stock Exchange’s recent surge to an all-time high of 77,000 points was more evidence of the government’s newly announced federal budget. He said, “This indicates that trade and business associations have approved the budget.”
According to PM Shehbaz, the government has made the decision to “set new records” for IT exports while also advancing the agricultural sector.
