PM Shehbaz expresses satisfaction over significant GDP growth in Q1 of current FY

Islamabad (Web Desk): Prime Minister Shehbaz Sharif has welcomed the country’s impressive GDP growth in the first quarter of the current fiscal year, describing it as a sign that Pakistan has been steered away from the edge of economic crisis toward stability.

Addressing the Federal Cabinet in Islamabad on Friday, he expressed satisfaction over the smooth and transparent privatization of seventy-five percent of Pakistan International Airlines.

PM Shehbaz said that since taking office, his administration had been committed to restructuring loss-making state-owned enterprises, and the Pakistan International Airlines (PIA) deal represents a key milestone in this ongoing effort.

The prime minister said this initiative reflects the government’s broader vision for economic reforms.
PM Shehbaz also highlighted the value of his recent meetings with United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan, calling them extremely productive for bilateral cooperation.

He added that he had a cordial phone conversation just a day earlier with Saudi Arabia’s Crown Prince and Prime Minister, Prince Mohammed bin Salman, during which both leaders expressed satisfaction with the progress in economic and strategic ties, while discussing opportunities to further deepen these relations.

Extending warm New Year greetings, the prime minister conveyed his best wishes to all members of the Federal Cabinet.

The Cabinet ratified the decisions taken by the Cabinet Committee for Legislative Cases in its December 30, 2025, session, including approval of measures related to the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025. It also endorsed the committee’s decisions from its December 3, 2025, meeting.

In addition, the Cabinet approved resolutions from the Economic Coordination Committee (ECC) meeting of August 26, 2025.

These included steps to provide relief to electricity consumers regarding the Off-Grid (Captive Power Plant) Levy and the development of a strategy for its implementation.

Acting on the Petroleum Division’s recommendation, the Cabinet also approved the issuance of a Presidential Ordinance to amend the Off-Grid (Captive Power Plants) Levy Act, 2025, permitting third-party gas sales to off-grid captive power plants.