Federal Minister Qaiser Ahmed Sheikh Drives Economic Stability Efforts

Political stability plays a crucial role in driving economic growth, as emphasized by Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh. He stressed the collective effort needed from all stakeholders to tackle economic challenges effectively. The government's unwavering commitment to achieving economic stability through consensus with its allies was highlighted, with a specific focus on managing inflation rates.

One of the key strategies employed to combat inflation was the decision to maintain the monetary policy rate at 22 percent. This move has proven effective, leading to a significant decrease in inflation rates from 32 percent to 11.8 percent compared to the previous year.

Furthermore, in a move to boost economic efficiency, the government has identified over 200 unprofitable departments for privatization. Pakistan International Airlines (PIA) is slated to be the first entity to undergo privatization, with a proposed share ratio of 51-49 percent. Drawing inspiration from the successful implementation of the public-private partnership model in Sindh, the federal government is considering replicating this approach at the national level, showcasing a proactive stance towards economic reform.

The government's proactive measures towards economic stability and reform, coupled with a focus on consensus-building and strategic partnerships, are pivotal in driving Pakistan's economic progress. By addressing inflation, pursuing privatization, and exploring innovative models like public-private partnerships, the government aims to foster sustainable economic growth and enhance overall efficiency in the country's economic landscape.