Prime Minister Shehbaz Sharif undertook on Monday to reduce electricity costs, reports challenges facing the industrial and agricultural sectors of Pakistan due to high prices of energy
The Prime Minister has reaffirmed his government’s commitment to economic renewal, stressing efforts to stimulate affairs, trade and foreign investments while attacking the inauguration of the Movenpick Six Stars Hotel in the capital .
“It is a proud moment for Pakistan that an advanced international hotel has been launched. I congratulate the Centaurus group for their efforts to strengthen the nation and thank Movenpick’s management for bringing world class hospitality to our country, “said Sharif.
The Prime Minister underlined progress in stabilization of the economy, noting that inflation was below 5% and that the banking policy rate was now 13% lower. Additional discounts are expected after the next Pakistan State Bank’s political meeting, he added.
The PM has described the growth of exports, in particular in the IT sector, and detailed plans to develop agriculture, industry, IT, mining and minerals. He also recognized the challenges of high energy costs having an impact on the industrial and agricultural sectors.
“A competitive industrial sector is essential for economic growth, and we are committed to softening the cost of business,” he said.
The Prime Minister announced a renewed privatization initiative for Pakistan International Airlines (PIA), urging Pakistani investors to participate in a transparent tender process.
“Just as banks were successfully privatized in the 1990s under Prime Minister Nawaz Sharif, and are now prosperous, Pia will also be transformed into a world class airline, just like in the 1960s,” He declared.
Shehbaz Sharif also confirmed that Pakistan is approaching the conclusion of its final program of the International Monetary Fund (IMF) and stressed the accent put by the government on the abolition of obstacles to foreign investment.
“Pakistan will resuscitate as a large nation thanks to the collective efforts of stakeholders and manufacturers of nation,” he said, expressing optimism for the future of the country.
The event has seen praise for the Centaurus group, the Prime Minister renting their contributions to economic development and urging more investments of similar caliber.
Prime Minister Shehbaz concluded by reiterating the determination of his government to promote economic stability, facilitate trade and guarantee the resurgence of Pakistan as a prosperous and progressive nation.
