Prime Minister Shehbaz Sharif recognized the high tax burden on companies and expressed his desire to reduce taxes by 15% immediately if she gave the opportunity. However, he pointed out that the right time for such a measure would come.
Speaking during the event of the federal government marking the “day of construction and development” in Islamabad, the Prime Minister underlined the trip of Pakistan in the past year, declaring that the country has passed from the darkness in light. “This progress is not the realization of an individual but the result of collective efforts,” he said.
Recalling a critical moment in June 2023, he mentioned a conference in Paris where the Pakistan IMF program faced uncertainty due to strict conditions. “Inflation was at a top of all time and common citizens brought the weight of economic difficulties. I greet them for their resilience because, without their sacrifices, we would not be where we are today”, he pointed out.
He also shared the details of his meeting with the director general of the IMF, who initially indicated that the guarantee of financial aid was unlikely. However, after discussing the issue with the Islamic Development Bank, Pakistan was able to obtain a commitment of $ 1 billion thanks to rapid budgetary changes.
The Prime Minister assured the business world that future policies would be formulated in consultation with them. “We have made difficult decisions to stabilize the country, and in a year, Pakistan began to progress towards economic recovery,” he said.
Referring to the September agreement with the IMF for a loan of $ 7 billion, he credited teamwork for prevented Pakistan with default. While leaving direct criticism of the previous government, he recognized the serious economic slowdown, declaring that inflation had climbed 40% and that investors had suffered considerably.
Stressing the impact of inflation on common people, he noted that employees contributed Rs. 300 billion taxes. He also mentioned successful measures to slow down the smuggling of Afghanistan and the export of $ 211 million in sugar this year.
Regarding national security, he deplored the resurgence of terrorism, declaring: “In 2018, terrorism had been eradicated, but unfortunately, he returned. We must ask ourselves why this happened.”
The speech of Prime Minister Shehbaz Sharif underlined the government’s commitment to economic recovery, financial discipline and national security, promising a better future for Pakistan.
