FII-9: PM Shehbaz vows reforms and self-reliance, urges unison and shared technology for progress

Riyadh (Web Desk): Prime Minister Shehbaz Sharif on Tuesday called on the developed nations to build a strong partnership with the developing world for the exchange of technology and equitable sharing of resources, stressing that collective efforts were vital for ensuring global prosperity in the face of mounting climate and environmental challenges.

The prime minister shared these views while speaking at a high-level roundtable discussion titled “Is Humanity Heading in the Right Direction?” during the 9th edition of the Future Investment Initiative (FII) Conference 2025 in Riyadh.

PM Shehbaz urged global cooperation to assist nations such as Pakistan that are reeling from the impacts of climate-induced disasters, emphasizing that continuous borrowing was not a sustainable path toward recovery. He said relying solely on loans weakens economies already burdened by natural calamities and hinders long-term growth.

The premier maintained that humanity could only progress if it moved forward collectively, sharing not only prosperity but also challenges. He emphasized the importance of transferring modern technologies to developing nations, allowing them to strengthen their productivity in agriculture, industry, and job creation.

PM Shehbaz extended congratulations to Saudi Crown Prince Mohammed bin Salman for organizing the international event and praised his transformative vision that has reshaped Saudi Arabia’s progress.

“I represent a nation blessed with abundant resources. Since our independence, we have made sincere mistakes and learned from them. As human beings, errors are natural, but learning from them is what truly matters,” he said

Highlighting Pakistan’s economic reforms, PM Shehbaz described them as the most extensive and deeply rooted changes the country had undertaken in recent times.

He pointed out that the Federal Board of Revenue had been fully digitized, and a determined campaign against corruption was underway.

“Rome was not built in a day,” he remarked, noting that Pakistan was also implementing industrial reforms and utilizing its youthful population — about 60 percent of its citizens — as both a challenge and an opportunity.

PM Shehbaz said the government was focusing on equipping the younger generation with skills and vocational training to ensure productive employment.

As an agrarian economy, he added, Pakistan was among the ten most vulnerable countries to climate change despite contributing less than a fraction of one percent to global greenhouse gas emissions.

Recalling the catastrophic floods of 2022, Shehbaz Sharif said Pakistan suffered damages estimated at $130 billion, with vast areas submerged, crops wiped out, and millions of homes destroyed, forcing the nation to take on additional loans for reconstruction.

“Once again, in 2025, Pakistan has faced destructive floods and cloudbursts that left the country in despair,” he added. “This cannot be humanity’s chosen direction in the face of such crises.

The prime minister said Pakistan was making strenuous efforts to revive its economy, but the international community must play its role in sharing responsibility.

He warned that if this imbalance continued, it could lead to dire global consequences.

“We are determined to rise through hard work, unity, and resilience, utilizing our youth and natural resources to become a respectable member of the world community by the grace of God,” he said.

Responding to a question, Shehbaz Sharif said Pakistan was advancing swiftly in adopting artificial intelligence and modern technologies.

However, he noted that AI presented both opportunities and risks, urging the developed world to engage in dialogue with the global south to ensure its positive and productive use.

He said Pakistan was preparing its youth for the digital era by providing training in AI, IT, and data sciences while developing data centers and innovation hubs that required significant investment.

PM Shehbaz also recalled his father’s perseverance in rebuilding his steel engineering business after its nationalization in 1972, calling it a testament to human determination and endurance.

The prime minister said that resilience, consistency, and hard work remained the foundation for overcoming challenges and achieving success in times of difficulty.