Prime Minister Shehbaz Sharif praised his government’s efforts in navigating financial crises with international support. He emphasized the need for reforms in state-owned enterprises and announced financial packages to aid families. Foreign Minister Ishaq Dar noted the end of diplomatic isolation, while Finance Minister Aurangzeb reported positive economic indicators. Significant reforms in the energy and IT sectors were also highlighted. Overall, the government aims for substantial growth and stability in Pakistan’s economy.
On March 5, 2025, Prime Minister Shehbaz Sharif commended his government for successfully navigating through several crises during its first year in leadership, aided by the support of allied nations. Addressing a cabinet meeting, he stressed the importance of obtaining $5 billion to meet IMF requirements, acknowledging the essential role of international assistance in avoiding potential bankruptcy.
In his remarks, Prime Minister Sharif highlighted the efforts implemented by his cabinet to prevent economic default and pledged to transform Pakistan into a $1 trillion economy by 2035. He expressed confidence that the pending Rs400 billion tax cases would be resolved swiftly while emphasizing the need for reforms to address Rs850 billion losses incurred by state-owned enterprises.
The Prime Minister also announced the launch of a Rs20 billion Ramazan package, aimed at providing financial relief to four million families through a digital wallet system, ensuring efficient distribution of funds to combat financial mismanagement. He condemned international humanitarian issues such as the Gaza corridor closure and called for global attention towards the suffering of Kashmiris and Palestinians.
Foreign Minister Ishaq Dar declared that Pakistan’s diplomatic isolation had ended, citing the country’s recent UNSC membership for 2025-26 and the successful hosting of multilateral conferences like the SCO. He also noted the challenges posed by climate change.
Finance Minister Muhammad Aurangzeb shared a positive economic outlook, noting a remarkable 71 percent return on the Pakistan Stock Exchange and the highest current account surplus in two decades. He outlined plans to streamline government functions while introducing pension reforms and enhancing tax systems.
Power Minister Awais Leghari presented information on significant reforms in the energy sector, including a significant reduction in industrial cross-subsidy costs. He shared details of a solarization project for tube wells in Balochistan, which is expected to save substantial losses in the power sector.
Minister of State for IT Shaza Fatima Khawaja reported an increase of 15 million broadband subscribers, contributing significantly to the national economy, while Planning Minister Ahsan Iqbal expressed optimism about achieving growth through the ‘Uraan Pakistan’ initiative. Additional reports on various ministries showcased ongoing efforts in curtailing smuggling, promoting the Green Pakistan Initiative, and addressing agriculture and livestock needs.
In summary, Prime Minister Shehbaz Sharif expressed confidence in his government’s recent achievements, highlighting their efforts to stabilize the economy and enhance diplomatic relations. With significant economic reform plans, financial assistance from allies, and initiatives aimed at improving the livelihoods of citizens, the administration is committed to fostering growth and resilience in Pakistan. Continued attention to loss-making state enterprises and humanitarian concerns remains a priority as the government seeks to create a sustainable future.
Original Source: www.dawn.com
