Shehbaz Sharif calls for collective efforts to overcome biggest challenge of economic stability  PM tells businessmen current account is in surplus, remittances are increasing, inflation is moving down.

KARACHI  -  Prime Minister Shehbaz Sharif Wednesday said the economic stability was a biggest challenge for the country at the moment that could be overcome with the coordinated efforts of the federation and the provinces. “We should work together to serve the country and for the development of the provinces as with the joint efforts we can solve problems of the people of Pakistan,” the PM said in his remarks at meeting with Sindh Chief Minister Murad Ali Shah and his cabinet here at the CM House. PM Sharif emphasised that the federation and the provinces could work in collaboration towards the improvement of national economy.

Shehbaz Sharif called upon federal and the provincial governments to keep very close relationship to make our country developed nation. He said development of Sindh, Punjab, Khyber Pakhtunkhwa and Balochistan, was in fact the development of Pakistan.

Prime Minister hoped that the big investment opportunities will benefit to all provinces equally. He stressed the need of forging unity and harmony among each other so that positive results could be achieved. He said the purpose of his visit to Sindh was to create mutual understanding.

Referring to foreign investment, the Prime Minister made a special mention of recent visits of the delegation of Kingdom of Saudi Arabia and the president of Islamic Republic of Iran to Pakistan and hoped that in coming months, many foreign delegations would visit Pakistan.

As a result of February 8 election, the people of Pakistan gave mandate to Pakistan Peoples Party in Sindh while in Punjab, they gave opportunity to Pakistan Muslim League (N). However, he said, “in federation there is a split mandate and we have to respect it.” Shehbaz Sharif mentioned his camaraderie developed with CM Murad Ali Shah and said that in case of any problem, they talked and sorted out things immediately.  

 “Due to such relationship, today federal and the provincial ministers are sitting together and discussing ways to face the challenges confronted by our country,” he said.          

He expressed gratitude to the CM Sindh and his cabinet for their warm welcome with great enthusiasm.

He said after arrival in Karachi he visited Mazar-e-Quaid and paid rich tribute to the father of the nation.

Sindh Chief Minister Syed Murad Ali Shah congratulated Shehbaz Sharif on assuming office of the prime minister for second term.

Federal Minister for Information and Broadcasting Attaullah Tarrar, Federal Ministers Ahsan Iqbal, Dr Khalid Maqbool Siddiqui, Jam Kamal, Qaiser Shaikh and members of the provincial cabinet also attended the meeting.

Also, Prime Minister Muhammad Shehbaz Sharif on Wednesday expressed the confidence that the country’s exports volume would be doubled over the next five years with the support of business community.

He said the government, in consultation with the business community, would chalk out a comprehensive policy framework to increase the exports that would ultimately help ensure sustained economic growth.

The export-led growth would also help resolve the country’s foreign exchange reserves’ issue, he added.

“You are actually the backbone of the national economy as without your support, the government cannot bring the country out of economic crisis,” the prime minister said while addressing the business community.

He asked the business community to sit with the government to resolve their issues and challenges as it was the only way to move forward, and bring development and prosperity to Pakistan.

“We should get together in the larger national interest. The brilliant minds should together find ways to overcome the challenges and problems hindering the country’s development and prosperity.”

It was the only way to regain the country’s lost glory, the prime minister said.

PM Shehbaz highlighted that the government was fully focused on bringing revolution in sectors of agriculture, mines & minerals, information technology and industry.

He also expressed the government’s resolve to work for reducing unemployment, poverty and inflation in the country, which, he said, could not be possible without the support of the business community.

As regards the sugar situation in the country, the prime minister said the government might opt for export of the commodity in case its stock was in surplus. He said the government was also focusing on curbing smuggling of the commodity.

PM Shehbaz highlighted that due to the efforts of interim and current governments, positive news were being received about macroeconomic indicators.

“The current account is in surplus, remittances are increasing, inflation is moving down, and the stock exchange is showing record progress,” he remarked.

The prime minister assured that the privatization process would be carried out in a transparent way without any bureaucratic hurdles. The government would consult the business community before finalizing any transaction in that regard.

He said it was not the government’s job to run the businesses, rather the private sector was there for the purpose, which could play their due role in the country’s development and prosperity.

The prime minister pointed out that the government paid rebates of Rs 65 billion soon after taking over the office. He asked the business community to bring in modern techniques and technologies and high quality marketing in their businesses.

He said an amount of Rs 2.7 trillion of tax money was stuck in litigation, and the government was trying to get the court decisions as soon as possible.

PM pays homage to father of nation

Prime Minister Shehbaz Sharif Wednesday visited the mausoleum of Father of the Nation Quaid-e-Azam Muhammad Ali Jinnah, where he paid his respects and offered Fateha.

This is the first visit of Shehbaz Sharif to the Mazar-e-Quaid after he took the oath for the second term as the prime minister on March 4, 2024.

The prime minister laid a wreath at the mausoleum and also penned his comments in the visitors’ book.In his remarks, the prime minister said he was there to pay tribute to the great Quaid for his great struggle to create a separate homeland and show his respects to him.

Governor Sindh Kamran Khan Tessori, Chief Minister Syed Murad Ali Shah, Federal Minister for Information and Broadcasting Attaullah Tarar, Federal Minister for Planning and Development Ahsan Iqbal, Federal Minister for Commerce Jam Kamal, Federal Minister for Professional Training and Education Dr Khalid Maqbool Siddiqui were present on the occasion.

Prime Minister Shehbaz Sharif along with youth paid rich tributes to the founding fathers of Pakistan.

The Prime Minister took an oath from the youth who performed prominently at Mazar-e-Quaid to serve Pakistan and play their role in the development of the country.

Earlier, Prime Minister Shehbaz Sharif arrived on a day long visit to Karachi and was received by Sindh Governor Kamran Khan Tessori and Chief Minister Syed Murad Ali Shah at Karachi Airport.

Prime Minister Shehbaz Sharif will hold meetings with Governor Sindh, Chief Minister and the business community leaders during his Karachi visit.