PM Unveils Reforms Agenda Of Economic Revival; Says Country On Course Of Progress

PM unveils reforms agenda of economic revival; says country on course of progress

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Jun, 2024) Prime Minister Shehbaz Sharif on Saturday highlighting his government's achievements during the first 100 days, spelled out his five-year agenda of economics stability and public welfare marking the tough decisions of abolishing corrupt or loss-making ministries and departments, widening tax net and doing away with red tapism to achieve Quaid's Pakistan.

The prime minister, in his maiden address to the nation, said that the government's prudent economic policies had resulted in reduced inflation from 38 percent to 12 percent, interest rate from 22 percent to 20 percent and repeated reduction in oil prices with the latest one on Friday - Rs10.5 per litre reduction in petrol and Rs 2.5 per litre in diesel prices.

"We have defined the future course of action and we will pursue it with utmost honesty and strictness. We will spend every saved penny on public welfare... We will eliminate red tapism... This journey is not only difficult and long but also demands sacrifice from the government authorities as well as the elite," he said in his televised address.

He said the country's economic situation in April 2022, when the PDM government took the charge, was in worst condition and the country was on the brink of default.

PM Shehbaz Sharif pointed out that the PDM government under the leadership of the allied party heads including Muhammad Nawaz Sharif took tough decision and saved the country from falling into default at the cost of their political gains.

"As a result of our performance of 16 months in the previous tenure and 100 days in current tenure, today, Pakistan is slowly coming out of the crisis and moving towards stability and development," he added.

He said the journey of the economic stability and prosperity was not so easy while the people were looking toward the government for immediate relief.

Due to the government's pro-people policies, he said the inflation hit people will get further relief in near future, he said.

"Similarly, the 22 percent interest rate has now come down to 20 percent that would help reducing the interest burden on the country's debts and further promote the domestic investment in the country."

He advised the nation to get united and play role for the country's development and prosperity adding that it should also show a sense of sacrifice and adopt austerity measures in their lifestyles.