THE coalition government, led by Prime Minister Shehbaz Sharif, has completed one year of satisfactory delivery despite numerous challenges in the realm of economy and politics.
In a statement, the PM said due to excellent efforts of the government team, economic indicators are improving with each passing day as all institutions are working together to improve the economy, promote business and investment.
Similar sentiments were echoed by Minister for Information and Broadcasting Ataullah Tarar who pointed out that the Government sacrificed its interests for the greater good of the state, underlining that the decisions taken by the Prime Minister were in the best interest of the nation.
The government surely has remarkable achievements to its credit in the last one year and this is overtly or covertly acknowledged even by its political rivals as well besides a majority of the people and global partners of Pakistan.
As the Prime Minister and his cabinet colleagues took pride in their performance so far, the data released by the Pakistan Bureau of Statistics (PBS) substantiated their claims about a visible change in the economic landscape of the country.
It showed the inflation rate dropped to 1.52 per cent in February 2025, the lowest level in nearly a decade, marking the seventh consecutive month of single-digit inflation.
This is not a mean achievement if seen in the backdrop of worrisome figures of 23.06% a year ago and historic high of 38% in May 2023.
Stating that the benefits of macroeconomic improvement had started reaching the public, the PM expressed the confidence that inflation would decrease further.
This is significant but not the only achievement of the ruling coalition as the growth turned positive from negative, exchange rate remained stable, foreign exchange reserves were improving, remittances by overseas Pakistanis are set to reach a record this year and both local and foreign investment are rising.
It is because of the marked improvement in economic conditions of the country that the Government was now talking confidently with the International Monetary Fund (IMF) and also expressing its commitment to provide relief to the people, especially the fixed income groups, who have been bearing the brunt of inflationary pressure and other bitter decisions of the Government.
The present Government can also take legitimate credit for bringing down the interest rate with positive impact for the economy and retiring costly public sector debt.
For the first time in decades, genuine and concrete plans are being implemented to keep the bureaucratic structure lean and efficient, which will lead to substantial savings.
There is also no denying the fact that the coalition government also restored the country’s reputation and contacts globally, reversing, what the Information Minister said, Pakistan’s “global isolation”, caused by the PTI’s diplomatic failures.
It is also a reality that positive sentiments were being expressed for Pakistan at the international level as many global personalities, including Turkish president, Abu Dhabi crown prince and others, paid official visits and expressed interest in investment in Pakistan.
Similar commitments were expressed by the leadership of the Gulf countries and Central Asian Republics as Saudi Arabia and the United Arab Emirates have shown keen interest in initiating joint ventures in Pakistan and the President of Azerbaijan has committed an investment of $2 billion.
It is also encouraging that after a gap of several years, the nation is witnessing resumption of popular schemes like free distribution of laptops, solar panels and increased scholarships for bright students.
Successful negotiations are being held with Independent Power Producers (IPPs) as part of the efforts of the Government to lower electricity tariff for all consumers and much-needed strategies are being implemented to broaden the tax net without burdening the existing tax payers.
All this augurs well for the country and its people but sustainability of the policies is deeply linked to the political stability and security situation, two issues that deserve special attention from the authorities concerned.
