PM Shehbaz Stresses Economic Growth Tied to Political Stability

The PM noted significant progress in foreign

investment, citing MoUs worth billions of dollars

signed with Saudi Arabia, Qatar, and the UAE

Associated Press of Pakistan

Islamabad: Prime Minister Shehbaz Sharif emphasized that economic development is directly linked to political stability, highlighting the strong connection between a country’s economy and its political framework.

Chairing a meeting on the Special Investment Facilitation Council (SIFC), the premier praised his economic team for significantly improving Pakistan’s macroeconomic indicators. He expressed optimism that 2025 would usher in prosperity and growth.

Economic Progress Highlights

• Inflation: Reduced to 4.1% for the first time since 2018.
• Foreign Remittances: Increased by 34%.
• Exports: Posted substantial growth.
• Foreign Exchange Reserves: Rose from $4 billion to $12.5 billion.
• Policy Rate: At 13%, with potential for an 8% reduction based on inflation trends.

The prime minister noted significant progress in foreign investment, citing MoUs worth billions of dollars signed with Saudi Arabia, Qatar, and the UAE.

Focus on Export-Led Growth

PM Shehbaz underscored the importance of export-led growth, calling it the only viable path to sustained economic development.

FBR and Revenue Achievements

Acknowledging the Federal Board of Revenue’s (FBR) efforts, the premier highlighted an additional Rs 72 billion in revenue collected through the Advance-to-Tax Ratio (ADR), helping the government meet its December 2024 tax revenue target.

He also mentioned the positive impact of faceless interactions in container inspections, reducing inspection time by 39% and providing 89% relief to businesses.

Sugar and Rice Export Success

PM Shehbaz commended efforts to curb sugar smuggling via Afghanistan, achieving zero smuggling. The government earned $0.5 billion from sugar exports, while rice exports generated $4 billion.

Security Challenges and Achievements

On the security front, the prime minister reaffirmed the commitment of law enforcement agencies to combat terrorism. He stressed that addressing security challenges is crucial for progress.

PM Shehbaz congratulated stakeholders on the agreement between tribes to normalize the situation in Kurram. He expressed sorrow over the loss of innocent lives in the region.