PM Shehbaz Sharif Pledges Economic Growth and Ease of Business

The Prime Minister expressed optimism about

Pakistan’s economic revival and acknowledged

the country’s progress

Associated Press of Pakistan

Islamabad: Prime Minister Shehbaz Sharif reaffirmed the government’s commitment to promoting economic growth by ensuring ease of doing business and facilitating trade during the inauguration of the six-star Movenpick Hotel in Islamabad.

The Prime Minister expressed optimism about Pakistan’s economic revival and acknowledged the country’s progress, emphasizing the government’s efforts to stabilize the economy. He shared that inflation had fallen below 5% and the banking policy rate had dropped to under 13%. He also revealed that further reductions were anticipated following discussions at the State Bank of Pakistan (SBP).

Praising the Centaurus Group for their nation-building efforts, the Prime Minister commended the Movenpick management for introducing world-class hospitality to Pakistan.

PM Shehbaz highlighted growth in key sectors such as agriculture, industry, IT, and mining, underscoring the importance of reducing energy costs for industrial and agricultural sectors burdened by high power tariffs. He assured that the government was working towards significant reductions in energy prices in the coming months, which would ease the cost of doing business and enhance competitiveness.

The Prime Minister also reiterated the government’s stance on downsizing public entities to reduce government expenditure and announced a new initiative for the privatization of Pakistan International Airlines (PIA), inviting Pakistani investors to participate in a transparent bidding process.

Drawing comparisons to the successful privatization of banks in the 1990s, PM Shehbaz expressed confidence that PIA would be transformed into a world-class airline.

The Prime Minister reassured the audience that Pakistan is on track to conclude its final IMF program and emphasized ongoing efforts to attract foreign investment, noting that new initiatives to improve the ease of doing business would soon be launched.

PM Shehbaz concluded by lauding the Centaurus Group for its contribution to nation-building and expressed hope for more investments of this nature in the future.

The Prime Minister reaffirmed his government’s dedication to fostering economic stability, advancing commerce, and ensuring Pakistan’s resurgence as a prosperous and progressive nation.