PM Shehbaz Sharif Urges Unity for Economic Stability in Pakistan

In recent times, Pakistan has faced significant economic challenges, prompting the government to take decisive actions to steer the nation towards stability and growth. Prime Minister Muhammad Shehbaz Sharif, during a media interaction, emphasized the importance of collective efforts from all stakeholders in the government to achieve these economic objectives. He highlighted that the previous sixteen months in office were marked by financial hurdles, yet through unity and determination, the government managed to prevent the country from defaulting on its obligations.

Upon returning from New York, where he addressed the United Nations General Assembly, the Prime Minister reflected on the progress made since his administration took charge. He pointed out that the previous government’s policies had led Pakistan to the brink of default, but with the "grace of Allah Almighty" and the collective efforts of his team, the country is now on a path toward economic recovery. The Prime Minister noted the approval of a $7 billion International Monetary Fund (IMF) extended fund facility as a significant achievement, which has been recognized by international institutions.

In his remarks, Prime Minister Sharif compared the current inflation rate of 9.6 percent to last year’s staggering 32 percent, indicating a positive trend in the economy. He acknowledged the State Bank of Pakistan's decision to reduce interest rates and mentioned that the prices of daily commodities are stabilizing. However, he cautioned that "everything is not a hunky-dory" and stressed the need for continued hard work and sacrifices, particularly from the elite, to ensure the country’s progress.

The Prime Minister expressed gratitude to friendly nations, especially Saudi Arabia, the United Arab Emirates, and China, for their support in securing the IMF program. He commended the efforts of various officials, including the finance ministers and ambassadors, who played a crucial role in this achievement. Additionally, he recognized the Chief of Army Staff for his contributions in fostering relationships with these countries, which provided essential economic relief to Pakistan.

Looking ahead, Prime Minister Sharif expressed hope that the current IMF program would be the last, as he believes that the combined efforts of the government and the people of Pakistan will lead to successful outcomes. He called for a reduction in expenditures and emphasized the importance of providing essential services to the public. The Prime Minister also reiterated his call for a "charter of economy" to ensure long-term stability.

During his address at the UNGA, the Prime Minister highlighted the plight of the Palestinian people and condemned the ongoing violence in Gaza and Beirut. He urged the international community to take action for an independent Palestinian state and to address the situation in Indian Illegally Occupied Jammu and Kashmir, where the local population continues to face oppression.

In a strong statement, he condemned the riots of May 9, which targeted significant national symbols, labeling them as "an unpardonable act." Despite the challenges, he expressed optimism that Pakistan would soon emerge as an "Asian Tiger," a vision articulated by his predecessor, Muhammad Nawaz Sharif, whose leadership had previously set the country on a path of rapid progress.

The Prime Minister's call for unity and hard work resonates with the current needs of Pakistan. As the nation navigates through these turbulent economic waters, it is crucial for all segments of society to contribute towards a common goal of stability and prosperity. The journey ahead may be challenging, but with collective effort and determination, a brighter future for Pakistan is within reach.