Pakistan’s Economy Stabilized, Moving Towards Growth: PM Shehbaz

APP

London: Prime Minister Shehbaz Sharif on Sunday said Pakistan had achieved economic stability and was now on a path towards growth, while also making progress in foreign relations and military strength.

Addressing overseas Pakistanis at the Pakistan High Commission in London, the premier said the country had endured difficult economic phases in the past but was now moving forward due to “sincerity, hard work, and team effort.”

“We can overcome every difficulty and make progress with cooperation, consultations, sincerity, persistent efforts and unity of thought and action,” he said, adding that Pakistan had regained dignity and respect in the international community.

UNGA speech: Kashmir and Palestine in focus

Recalling his address at the United Nations General Assembly (UNGA), the Prime Minister said he had represented the people of Pakistan, raised the issue of Kashmir, and voiced solidarity with Palestinians facing “unprecedented oppression” in Gaza.

He stressed that “Kashmir will one day gain freedom” and condemned the killing of more than 64,000 civilians in Gaza, including women and children, by occupying forces. He also expressed hope that the recent meeting of Arab and Islamic leaders with U.S. President Donald Trump would yield “encouraging results” on Gaza.

Sharif further termed his separate meeting with Trump in Washington as “constructive and cordial,” describing it as a stepping stone for improved bilateral ties.

Economic turnaround

Deputy Prime Minister and Foreign Minister Ishaq Dar, who also spoke at the event, said Pakistan’s leadership had engaged in around two dozen meetings during the UNGA session, effectively raising the issues of Kashmir, Palestine, and Gaza.

He credited the coalition government with preventing default in April 2022, when Sharif took office, and stabilising the economy. “Interest rates have been reduced from 22 percent to 11 percent, while inflation has fallen to five percent from 30 percent,” Dar said, adding that Pakistan was now positioned for sustainable growth and poverty reduction.

Dar noted that while Pakistan’s economy had once ranked 24th under Nawaz Sharif, it had fallen to 47th place due to mismanagement in subsequent years. He said current improvements were being recognised globally.

Overseas Pakistanis as ambassadors

Prime Minister Sharif praised expatriates as “a precious asset and great ambassadors of Pakistan,” acknowledging their role in supporting the country through remittances and advocacy abroad.

Delegations of overseas Pakistanis, who met him on the sidelines of the event, commended his UNGA address, particularly for highlighting Kashmir and Palestine. They described his speech as “one of the most listened to” at the 80th UNGA session.

The Prime Minister later recorded his impressions in the guest book at the High Commission.