Islamabad (Web Desk): Prime Minister Shehbaz Sharif praised his cabinet's performance over the past year, urging them to continue their efforts towards achieving economic stability with their untiring efforts as all the economic indicators were showing positive trajectory.
Addressing a special meeting of the cabinet members at the Jinnah Convention Center to review the one-year performance of the government, the prime minister said that during the last one year, he said that it was is a matter of satisfaction that, in the last year, not a single corruption case surfaced nor was there a false allegation against us from the opposition.
Prime Minister spoke of the government's efforts to improve the country’s financial situation, saying that it had successfully avoided a potential default. He added that the government had managed to achieve a positive economic trajectory despite facing tough challenges.
PM Shehbaz further addressed the importance of supporting the underprivileged, particularly during the holy month of Ramazan.
He highlighted the government's new initiative to provide financial relief, announcing, "The government has rolled out a Rs20 billion Ramazan package to assist 4 million families through a digital wallet system, with each family receiving Rs5,000."
This system, according to the premier, would eliminate any chances of financial mismanagement allegations that had previously affected government entities like the Utility Stores Corporation.
PM Shehbaz pointed out that the government’s decisive action had pulled the country from the brink of financial collapse and praised the collective efforts that led to an economic turnaround.
He emphasized that "All macroeconomic indicators are on the rise," and urged his cabinet to stay focused on working hard and staying dedicated to their goals, with a vision of transforming Pakistan into a one-trillion-dollar economy by 2035.
The premier also expressed gratitude toward the leadership of the government’s coalition partners for their unwavering support during challenging times.
PM Shehbaz took a moment to reflect on the government's commitment to addressing international issues, stressing, "We are the bearers of May 28 achievement and not of May 9," in reference to past political events.
He also questioned the actions of a political party that, while governing a province, had allegedly sought to undermine agreements with international financial institutions like the International Monetary Fund (IMF).
The prime underscored the importance of addressing economic challenges, including the pending Rs400 billion in tax cases and the financial losses caused by state-owned enterprises, describing them as "bottomless pits."
He also mentioned the government's determination to tackle the circular debt issue in the power sector, believing that these efforts would lead to stronger economic growth for the country.
The prime minister reiterated Pakistan’s strong condemnation of Israel for closure of Gaza corridor for humanitarian assistance in the month of Ramazan and said that more than 50,000 thousand Palestinians had been martyred in the Israeli aggression.
PM Shehbaz said that the Kashmiri people in the Indian Illegally Occupied Jammu and Kashmir (IIOJK) were also facing worst kind of brutalities.
He called upon the international community to raise their full voice for the people of Palestine, Gaza and IIOJK.
PM Shehbaz shared his optimism about Pakistan’s future, stating that the country would emerge stronger through the collective efforts of its people.
He also stressed the need to foster a culture of forgiveness, compassion, and tolerance in society.
The prime minister concluded with a look towards the future, noting, "In collaboration with China, Pakistan will soon launch its first joint astronaut mission."
On the occasion, Minister for Planning Ahsan Iqbal and Minister for Information and Broadcasting Attaullah Tarar also presented a book to the prime minister about the government’s one year performance.
Expressing his views, Deputy Prime Minister and Foreign Minister Ishaq Dar reflected on the positive developments in Pakistan's international relations and economic policies, saying, "When we look back, during the tenure of Nawaz Sharif, Pakistan's economy was ranked 24th. Now, we have managed to stabilize it through solid economic direction."
He also mentioned that Pakistan had regained its international standing, becoming a member of the United Nations (UN) Security Council for 2025-26 and hosting significant international conferences after a gap of 27 years.
Presenting an overview of the economy, Finance Minister Muhammad Aurangzeb reported a 71% increase in returns on the Pakistan Stock Exchange and the highest current account surplus in the past two decades.
He also discussed plans for streamlining government ministries and departments and introducing pension reforms and taxes on agriculture. Under his leadership, the Federal Board of Revenue (FBR) saw a 26% revenue increase, and the government introduced a faceless tax assessment system that led to a 60% revenue boost.
Minister for Power Awais Ahmed Leghari shared updates on energy sector reforms, including efforts to reduce Rs151 billion in industrial subsidies and the termination of agreements with inefficient independent power producers (IPPs). He highlighted that these reforms would result in lifetime savings of Rs1,333 billion. Moreover, the government’s efforts in the solarization of tube wells in Balochistan were noted as significant for reducing losses in the energy sector.
Minister of State for IT Shaza Fatima Khawaja spoke about the booming telecom sector, with 15 million new broadband subscribers added in the past year, and the sector now contributing Rs341 billion to the national economy.
Minister for Defence Khawaja Asif framed the past year as a journey of rising from difficult circumstances.
He criticised the opposition party’s actions, saying, "An opposition party, which once held power, pursued policies that were not in line with national interests," and added that such actions had led to a chaotic political environment.
The cabinet also heard from Ahsan Iqbal, the Minister for Planning, who expressed confidence in achieving the government's growth goals through continued development, particularly with plans for the five growth corridors that would help guide the country’s economic path.
Attorney General for Pakistan (AGP) Mansoor Usman Awan also spoke on the occasion and praised the leadership and guidance of the prime minister, particularly in terms of legal reforms and legislative issues.
Various other reports on initiatives were also presented about performance of the interior ministry, curbing of smuggling, Green Pakistan Initiative and Special Investment Facilitation Council (SIFC) contributing towards agriculture and livestock sectors of the country.
