Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Friday said that the government is rigorously pursuing the agenda of economic reforms to steer the country out of prevailing challenges.
Presiding over the Federal Cabinet meeting in Islamabad today, he said the reports of international financial institutions and journals showing positive and upward trajectory about Pakistan's economy is a testimony of the prudent policies of the incumbent government.
PM Shehbaz said our IT exports have been recorded all times high, foreign remittances and overall exports of the country have also witnessed surge and credit of all this goes to the sitting government.
He said foreign investment from our friendly countries including Saudi Arabia is also increasing which would have positive impact on our economy.
Shehbaz Sharif said the government is also implementing a comprehensive policy and taking steps to reduce electricity theft and lowering its prices.
He, however, said we have not only to take difficult decision, but to safeguard them in the interest of country.
PM Shehbaz informed that he completed the power sector review in four phases in which important decisions were taken to minimize power theft and line losses, and to reduce prices of the electricity.
Besides, he said the government had also decided in principle to divest the Distribution Companies (DISCOs).
The premier said that said the Federal Board of Revenue (FBR) had old and obsolete systems which needed to be replaced to increase the tax to GDP ratio.
He pointed out that the FBR had the potential to earn extra revenues worth hundreds of billions of rupees by implementing reforms in its system.
“We have to take tough decision in larger interest of the country and we will fully monitor the implementation phase,” the prime minister remarked.
As regards the privatisation of the State-Owned Entities (SOEs), PM Shehbaz assured that the process would be done without delay and in a transparent manner.