Pakistan’s economy getting back on its feet, says PM Shehbaz

On Wednesday, Prime Minister Shehbaz Sharif declared that the economy was recovering and that the path to expansion had formally started.

The premier, who was in Karachi for a day, highlighted the significance of economic progress in the country and expressed his happiness at seeing the stock market for the first time.

He claimed Karachi was the foundation of Pakistan’s economy while speaking at a function held at the Pakistan Stock Exchange (PSX). He also pointed out that the city’s once-dimmed lights have now returned, signifying the country’s economic resurgence.

PM Shehbaz expressed his readiness to collaborate with all sectors for sustained economic development, affirming that economic progress would require collective effort.
The prime minister remarked that the country had achieved economic stability, and while there were still challenges, Pakistan was heading in the right direction.
He assured that the country’s commitment to the International Monetary Fund (IMF) would be fulfilled but hinted that there would come a time when Pakistan would say goodbye to the IMF.
He also noted the tax targets for the next six months, which were set clearly and would be met through diligent efforts. PM Shehbaz mentioned that interest rates had dropped to 13%, but he hoped for a further reduction to 6%.
The prime minister called on experienced economists to guide the country’s financial recovery and sought actionable recommendations for further improvements.
He stressed the need for the private sector to play a larger role in the economy’s growth, with an emphasis on the importance of increasing tax revenues.