Expects ‘substantial reduction’ in power prices; Assures ‘extensive efforts’ to ensure ease of doing business and support investors; Reaffirms stance on downsizing, rightsizing public entities
Prime Minister Shehbaz Sharif on Monday reaffirmed his government’s commitment to foster economic stability, promote commerce, and ensure Pakistan’s resurgence as a progressive and thriving nation.
Addressing the inauguration of a hotel in Islamabad on Monday, he said Pakistan has embarked on the journey of economic growth and prosperity.
As the industrial and agricultural sectors face challenges due to high power tariffs, Shehbaz Sharif reaffirmed that the government was working tirelessly to bring substantial reductions in energy costs in the coming months.
“A competitive industrial sector is essential for economic growth, and we are committed to easing the cost of doing business,” the premier said while addressing a ceremony in Islamabad on Monday.
Addressing the ceremony, PM Shehbaz assured extensive efforts of the incumbent government to ensure ease of doing business and trade facilitation to businessmen for reviving economic growth.
He expressed optimism about the country’s economic revival and reiterated the government’s commitment to fostering progress across various sectors.
He highlighted the government’s efforts to stabilise the economy, noting that inflation has been reduced below 5%, and the banking policy rate was under 13%.
He emphasised the growth in exports, particularly in the IT sector, and outlined the government’s vision for economic development in agriculture, industry, IT, mining, and minerals.
The prime minister reaffirmed the government’s stance on downsizing and rightsizing public entities to reduce government expenses.
Announcing a new initiative for the privatisation of Pakistan International Airlines, he invited Pakistani investors to participate in a transparent bidding process.
“Just as banks were successfully privatised during the 1990s under [then] prime minister Nawaz Sharif and are now thriving, PIA too will be transformed into a world-class airline, just as it was in the 1960s,” he stated. He assured the audience that Pakistan is on track to conclude its final IMF programme.
The prime minister highlighted ongoing efforts to remove obstacles to foreign investment, noting that initiatives to improve the ease of doing business will soon be launched.
“Pakistan will resurrect as a great nation through the collective efforts of stakeholders and nation-builders,” he added.
“It is a proud moment for Pakistan that a state-of-the-art international hotel has been launched. I commend the Centaurus Group for their nation-building efforts and thank the Movenpick management for bringing world-class hospitality to our country,” said the prime minister.
He revealed that further reductions are expected following the State Bank of Pakistan’s meeting. “A competitive industrial sector is essential for economic growth, and we are committed to easing the cost of doing business,” he said.
The prime minister highlighted ongoing efforts to remove obstacles to foreign investment, noting that initiatives to improve the ease of doing business will soon be launched.
“Pakistan will resurrect as a great nation through the collective efforts of stakeholders and nation-builders,” he said.—APP
