Islamabad : Prime Minister Shehbaz Sharif stated that the government’s top priority is to accelerate economic growth, enhance exports, and transform Pakistan into a more business-friendly environment.
He made these remarks during a virtual address at a ceremony on economic reforms, which was broadcast from Islamabad.
The prime minister explained that the current series of economic governance reforms represents a pivotal moment in Pakistan’s reform journey, as the nation transitions from emergency measures towards establishing robust, sustainable institutions.
He highlighted that the reform plan is practical, not theoretical, and is ready for implementation, with specific timelines and measurable targets designed to translate national economic objectives into tangible outcomes.
Referring to the nation’s progress over the last two years, PM Shehbaz pointed out substantial, verifiable improvements in key economic indicators.
He noted a sharp reduction in inflation, which has fallen from 29.2% to 4.5%, and a substantial increase in foreign exchange reserves, which have risen from $9.2 billion to $21.2 billion.
Furthermore, the prime minister emphasized the turnaround in the current account balance, which shifted from a deficit of $3.3 billion to a surplus of $1.9 billion.
He also mentioned the shift of the economy from a primary deficit to a primary surplus, with a noticeable reduction in the fiscal deficit. Additionally, the tax-to-GDP ratio has improved from around 8% to over 10%.
In his speech, PM Shehbaz revealed that more than one million new taxpayers have been brought into the formal tax system, and tax revenues have seen a 26% increase in 2025. He attributed these advancements to the digitization of government systems.
On the topic of privatization, the prime minister referred to the successful privatization of Pakistan International Airlines (PIA) and the First Women Bank, noting that these steps reflect the government’s reform-oriented approach.
He assured that the privatization of other major state-owned enterprises is progressing positively.
PM Shehbaz concluded by stating that these economic achievements have garnered positive recognition from leading international credit rating agencies, demonstrating increasing confidence in Pakistan’s economic management.
