Islamabad (Web Desk): Prime Minister Shehbaz Sharif, in an address to Pakistani students enrolled at leading global universities under the Uraan Pakistan summer internship initiative, reiterated his government's determination to achieve a comprehensive economic revival through long-overdue reforms, systemic restructuring, and a commitment to merit-based governance.
Recalling the challenging situation his administration inherited in 2023, the prime minister noted that the country stood perilously close to economic collapse, with a real threat of default looming large.
At the time, widespread opinion leaned toward the belief that Pakistan would fail to avert default, while only a few remained hopeful of a recovery.
PM Shehbaz shared that through persistent dialogue with the International Monetary Fund’s (IMF) leadership, he had reassured them of Pakistan’s resolve to fulfill its obligations and stabilize the economy.
He said that during this period, the country was grappling with severe economic strain. Inflation had surged to 38%, and the interest rate was hovering around 22.5%, creating uncertainty and unease in the business community.
Despite these hurdles, the prime minister emphasized that through collective resolve and unwavering intent, his government managed to alter the trajectory, eventually bringing the interest rate down to below 11%.
The prime minister added that the Uraan Pakistan programme has now been successfully initiated.
PM Shehbaz acknowledged the arduous path ahead, citing the absence of deep-rooted reforms for several decades.
Stressing the urgency for transformation, he said that meaningful change would demand relentless efforts and consistency.
The premier particularly pointed to the reform and digital transformation of the Federal Board of Revenue (FBR), explaining that dishonest officials had been dismissed without yielding to recommendations or political pressure.
He underlined that in the past, digitization of the FBR remained superficial, limited to paper claims with no tangible implementation, largely due to manipulation by corrupt actors.
However, this did not imply a lack of competent and upright civil servants — rather, they had not been given the opportunity to lead.
PM Shehbaz said that the government brought qualified individuals, including the FBR chairman, on board and hired professional consultants to steer the department forward.
“The digitization drive has now become a defining feature of the FBR, with a shift from manual procedures to digital platforms that include artificial intelligence and faceless systems,” the premier said, adding that these reforms, according to the prime minister, revealed large-scale tax evasion — with revenue collection in one sector alone surging from Rs12 billion to over Rs50 billion in just a year.
He described the task ahead as difficult, likening it to climbing mountains, but reassured that his government would stay committed to fulfilling its responsibilities to the nation.
PM Shehbaz stressed the importance of performance and accountability, noting that he believes in teamwork and always gives credit to those who deliver results.
Those who underperform, he said, are replaced — because in governance, delivery and performance are non-negotiable.
Commenting on the broader economic landscape, the prime minister acknowledged the enormity of the challenges but reaffirmed his determination to meet national targets. Failure, he warned, was not an option.
He placed strong emphasis on the role of young people, describing them as the foundation of Pakistan’s future. Every investment made in the country’s youth, he said, was essentially an investment in the nation's long-term progress.
In response to students’ questions, he reflected on his time as chief minister of Punjab, where he introduced merit-based scholarship programmes to assist underprivileged students in backward regions.
Touching on the issue of climate change, he recalled the devastation caused by the 2022 floods, which led to an estimated $30 billion in losses for Pakistan.
Despite the country’s negligible contribution to global emissions, it bore a disproportionate share of the impact.
Addressing another student’s question, the prime minister brought up what he described as unprovoked aggression by India in May, linked to the Pahalgam incident.
PM Shehbaz said that his government had offered to have the matter examined by international organizations, but India did not respond.
He stated that as a result of India’s actions, 55 Pakistani citizens lost their lives, prompting Pakistan to act in self-defense and down six Indian aircraft. He added that on May 9 and 10, Pakistan’s military responded with full force and effectively countered the attack.
The premier praised the professional conduct and bravery of the armed forces, claiming that Pakistan succeeded in the conventional conflict.
He reiterated that the country’s nuclear programme exists solely for peaceful and defensive purposes.
PM Shehbaz expressed the hope that students would take full advantage of the Uraan Pakistan initiative and wished them success in their academic and professional journeys.