Prime Minister Shehbaz Sharif commended his government’s achievements in tackling financial crises through international support. He emphasized the need to address losses from state-owned enterprises and highlighted economic indicators such as the highest current account surplus in two decades. Key reforms and initiatives were presented by cabinet members, signaling a drive toward growth and stability.
On March 5, 2025, Prime Minister Shehbaz Sharif lauded his government’s achievements in navigating the country through crises and avoiding bankruptcy during its initial year in office. He attributed this success to collaboration with allied countries and emphasized the necessity of securing $5 billion to fulfill International Monetary Fund requirements. He articulated aspirations of transforming Pakistan into a $1 trillion economy by 2035.
During a cabinet meeting, the prime minister acknowledged cabinet members for their role in resolving financial challenges and stressed the importance of addressing the Rs400 billion pending tax cases. He identified the Rs850 billion losses from state-owned enterprises as significant issues that needed urgent attention and reiterated the need to resolve circular debt issues in the energy sector. Additionally, he announced a Rs20 billion package for Ramadan, assisting four million families with a digital payment system, aimed at minimizing financial mismanagement.
Foreign Minister Ishaq Dar announced that Pakistan’s diplomatic isolation had concluded, highlighting the nation’s accession to the UN Security Council for 2025-26 and the resurgence of international conferences such as the Shanghai Cooperation Organization (SCO) in Pakistan. He also underscored the threats posed by climate change to the country.
Finance Minister Muhammad Aurangzeb reported impressive economic developments, including a 71 percent return on the Pakistan Stock Exchange and the highest current account surplus in two decades. He shared plans for rightsizing government ministries and introduced reforms in pensions and agriculture taxation, resulting in a 26% increase in Federal Board of Revenue (FBR) collections. Furthermore, a faceless assessment system led to a 60% increase in revenue.
Power Minister Awais Leghari discussed significant reforms that yielded a Rs151 billion reduction in industrial cross-subsidy and showcased the solarization project for tube wells in Balochistan, aiming to save Rs100 million in power sector losses. Minister of State for IT Shaza Fatima Khawaja noted a growth of 15 million broadband subscribers and a contribution of Rs341 billion from the telecommunications sector to the economy.
Planning Minister Ahsan Iqbal expressed his optimism for continuing the ‘Uraan Pakistan’ initiative focused on growth through five economic corridors, while various ministries reported their progress in areas such as interior security, anti-smuggling efforts, and the Green Pakistan Initiative.
In conclusion, Prime Minister Shehbaz Sharif highlighted significant economic achievements during his administration’s first year, crediting international partnerships for financial assistance. The government aims to address substantial losses from state-owned enterprises while launching initiatives to enhance economic stability and assist impoverished families. The announcement of Pakistan’s return to international diplomatic engagements further underscores the government’s renewed focus on enhancing the national economy and global standing. Overall, the progress reported reflects a committed approach to reform and growth in various sectors.
Original Source: www.dawn.com
