Islamabad (Web Desk): Prime Minister Shehbaz Sharif has said that the government’s priority is to speed up economic growth, boost exports and transform Pakistan into a much more business-friendly country.
He made these remarks while addressing a ceremony on economic reforms through a video link from Islamabad.
PM Shehbaz said that the current set of economic governance reforms marks a significant stage in the country’s reform process, as Pakistan moves away from emergency measures and towards building strong and lasting institutions.
He explained that the reform plan is not theoretical but ready for execution, with clear timelines and measurable targets aimed at turning national economic goals into practical results.
Highlighting the progress achieved over the last two years, the premier said that the country has witnessed concrete and verifiable improvements in its economic indicators.
He noted that inflation has come down dramatically from 29.2 to 4.5 percent, while foreign exchange reserves have increased from $9.2 billion to $21.2 billion.
PM Shehbaz added that the current account balance has shifted from a deficit of $3.3 billion to a surplus of $1.9 billion.
He said the economy has moved from a primary deficit to a primary surplus, with the fiscal deficit also showing a noticeable decline. He added that the tax-to-GDP ratio has improved, rising from nearly eight percent to above 10 percent.
The prime minister further stated that more than one million new taxpayers have been brought into the formal tax system, while tax revenues recorded a 26 percent increase in 2025. He said this progress has been supported by the digitization of government systems.
Referring to privatisation efforts, PM Shehbaz pointed to the successful privatisation of Pakistan International Airlines (PIA) and the First Women Bank, saying these steps reflect the government’s reform-driven approach.
He added that the privatization of other key state-owned enterprises is moving forward satisfactorily.
The prime minister concluded by saying that these economic achievements have also earned positive acknowledgment from leading international credit rating agencies, reflecting growing confidence in Pakistan’s economic management.