PM Shehbaz urges shift from economic stabilisation to growth, job creation and export promotion
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday stressed the need to focus on sustainable economic growth, job creation and export promotion, saying the country had successfully restored macroeconomic stability through a collaborative effort. Addressing the gong ceremony in Karachi virtually to celebrate the listing of the Naya Nazimabad Apartment REIT scheme, the prime minister lauded the…
Prime Minister Shehbaz Sharif emphasized the importance of shifting from economic stabilisation to growth, job creation, and export promotion during a virtual gong ceremony in Karachi. He highlighted the successful restoration of macroeconomic stability through collaborative efforts between the federal and provincial governments, financial institutions, and key individuals such as the finance minister, cabinet members, and the Federal Board of Revenue.
The prime minister praised Pakistan's implementation of structural reforms, which created an attractive investment ecosystem, commending the global financial institutions for their commendation. Economic indicators like the successful issuance of a $3 billion Eurobond, increased foreign exchange reserves, and a rise in commercial bank reserves showcased the country's progress.
The prime minister called for further modernisation and improvement of the stock exchange and capital markets, and expressed concern over the poor performance of subsidized industries. He appreciated the support of the Chief of Defence Forces and Chief of Army Staff, as well as the National Accountability Bureau's efforts in recovering public land.
Finance Minister Muhammad Aurangzeb reported growing private-sector participation, a surge in tax filers, and an improved current account deficit. The ceremony also saw business leader Arif Habib highlighting Pakistan's successful return to international capital markets and rising sovereign ratings.
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