PM Shehbaz Sharif vows to combat corruption

Prime Minister Shehbaz Sharif has pledged to hold accountable those responsible for corruption and negligence that have harmed the national economy. In a recent cabinet meeting, PM Sharif emphasized the need for a 'major surgical operation' to address deep-rooted flaws in the country's economic system. He expressed dissatisfaction with the track and trace system agreement of 2019, labeling it a 'cruel joke' due to its failure to bring about improvements in key sectors like tobacco, cement, sugar, and fertilizer.

The cabinet approved an extension of Proof of Registration (PoR) cards for Afghan refugees until June 30, with repatriation set to commence in the third phase. Approximately 1.3 million registered Afghans currently reside in Pakistan. The government aims to repatriate PoR cardholders following the completion of repatriating 'illegal foreign nationals' living in the country.

PM Sharif highlighted positive macroeconomic indicators, citing growth in IT exports, remittances, and the capital market as outcomes of prudent government policies. He outlined initiatives to address power sector challenges, including reducing theft and line losses, as well as lowering electricity prices. The government also plans to divest Distribution Companies (DISCOs) and implement reforms in the Federal Board of Revenue (FBR) to enhance tax collection.

Sharif assured a transparent privatization process for State Owned Entities (SOEs) and reiterated the government's commitment to economic reforms. He noted increasing foreign investments from friendly nations like Saudi Arabia, which are expected to bolster Pakistan's economy.

In conclusion, the government's proactive stance on combating corruption, improving economic policies, and attracting foreign investments signals a positive trajectory for Pakistan's economic future.