ISLAMABAD:
Prime Minister Shehbaz Sharif on Wednesday asked relevant authorities to formulate a comprehensive strategy to reduce the economic effects on the public in the wake of the current regional situation.
He stressed that the strategy should not disrupt production or the balance of supply and demand between economic sectors.
The Prime Minister further directed that external and internal macroeconomic factors should be carefully assessed while formulating the strategy.
Chairing a review meeting to formulate a strategy to protect the country from financial and economic impacts arising from the tense regional situation, the Prime Minister said many countries across the world were facing difficulties in maintaining the balance between supply and demand of essential commodities due to the current situation. He, however, noted with satisfaction that Pakistan was handling this challenge effectively and successfully.
He appreciates that all relevant institutions have taken rapid and effective measures to prevent any emergency situation regarding the supply and demand of essential goods.
The Prime Minister further highlighted that after meeting the national requirement for food and essential commodities, successful progress has been made in a comprehensive strategy to export surplus production.
He reiterated that the government remained committed to taking all necessary measures to ensure economic stability, growth and public welfare.
Considering the upward trend in prices in the global market, the Prime Minister ordered that a comprehensive medium and long term strategy be developed to address the financial and economic impacts on the country.
He specifically called for the strategy to be formulated through close coordination among relevant ministries and institutions, keeping in mind the stability and growth of all sectors of the economy.
The Prime Minister also directed that effective measures should be proposed to minimize the impact of rising production costs on exports and overall economic output due to the global situation.
He stressed the need to fully utilize available resources and opportunities to avoid negative impacts on agricultural and industrial production in the context of current economic challenges.
During the briefing, it was informed that all relevant ministries and institutions were reviewing the economic impacts of the situation on a daily basis, in line with the Prime Minister’s directives.
The meeting reviewed medium- and long-term planning to address financial and economic challenges arising from regional tensions. The Prime Minister appreciated the coordinated efforts of all ministries and institutions and directed further improvement in collaboration.
He also expressed gratitude for maintaining balance between supply and demand of essential goods in Pakistan despite difficult conditions.
The meeting was attended by Minister for Planning Ahsan Iqbal, Minister for Finance Muhammad Aurangzeb, Minister for Energy Division Sardar Owais Ahmed Khan Leghari, Minister for Information and Broadcasting Attaullah Tarar, Minister for Climate Change Musadik Malik, Minister for National Food Security Rana Tanveer Hussain, Minister for Petroleum Ali Pervaiz Malik, Minister for Economic Affairs Ahad Khan Cheema, Special Assistant to Prime Minister Haroon Akhtar, State Bank Governor Jameel Ahmad, and other senior officials.
Digital investment
Prime Minister Shehbaz Sharif on Wednesday reaffirmed his government’s commitment to facilitating foreign investment in Pakistan’s digital economy, as VEON Group CEO Kaan Terzioglu expressed interest in expanding operations in the country.
According to the Prime Minister’s Office (PMO) statement on
Prime Minister Shehbaz said Pakistan was pursuing a comprehensive strategy to boost international investment in information technology while ensuring transparency through digitalization of the economy.
“The government is taking practical steps, in coordination with all institutions, to facilitate international investments,” the Prime Minister said, adding that promoting a cashless economy through effective use of information technology remained a key priority.
The statement said that during the meeting, the Prime Minister noted that following the 5G spectrum auction, relevant institutions were working in coordination to ensure the provision of high-quality internet services.
“He also highlighted the role of Pakistani youth, saying their growing interest in IT and digital platforms made the country an attractive destination for global investors,” the statement added.
Terzioglu appreciated the government’s efforts to increase transparency and improve the investment climate, saying Pakistan had moved “rapidly” towards achieving a digital economy and deploying 5G services.
He also welcomed initiatives to promote a cashless economy and expressed VEON’s intention to further increase investments in Pakistan.
The meeting was attended by Finance Minister Aurangzeb, IT Minister Shaza Fatima Khawaja, Economic Affairs Minister Ahad Khan Cheema, Jazz CEO Aamir Ibrahim and other senior officials.
Youth in the spotlight
Prime Minister Shehbaz Sharif said the government was taking several steps to equip youth with professional skills and integrate them into the job market, asserting that youth are the future of our nation.
According to a statement issued by the Prime Minister’s Office, while chairing a review meeting on measures to increase employment opportunities for the youth, Prime Minister Shehbaz expressed satisfaction and said the government was accelerating efforts to provide technical and vocational training to the youth in line with contemporary demands.
“Prime Minister Shehbaz observed that recent reforms in the National Vocational and Technical Training Commission (NAVTTC) have significantly improved the delivery of technical education,” the statement said.
According to the PMO, during the meeting, the Prime Minister said that the comprehensive training programs launched through the NAVTTC were already yielding positive results, harnessing the potential of the youth workforce.
The statement also noted that while emphasizing the importance of preparing young people for international competition, the Prime Minister stressed the need for them to focus on obtaining international certifications alongside vocational training in skills that are in high demand in the global market.
The statement further added that during the meeting, officials briefed the Prime Minister on efforts to create employment opportunities at the national and international levels.
The briefing noted that the PM Youth Program and the Ministry of Foreign Affairs had already identified multiple international employment opportunities for young Pakistanis and were working to develop them further.
“The PM Youth Hub has played a pivotal role in providing information on employment opportunities both domestically and internationally. Job opportunities are available in IT, healthcare, construction, tourism, logistics and other sectors abroad,” the statement added.
The statement also mentioned that the Higher Education Commission monitors graduate employment at 282 universities across the country through a digital application, a system intended to inform future education policy.
According to the Prime Minister’s Office, during the meeting, Prime Minister Shehbaz also informed that 32 institutions under the Federal Ministry of Education had introduced Matric-Tech, a vocational program for secondary school students. An Inter-Tech program of higher level technical training was also planned.
The review meeting was attended by federal ministers including Dr Musadik Malik, Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Chaudhry Salik Hussain, Dr Ahsan Iqbal, Shaza Fatima Khawaja and State Minister Bilal Azhar Kiani, along with Chairman Prime Minister’s Youth Program, Chairman HEC and senior officials of relevant institutions.
