The Prime Minister of Pakistan, Shahbaz Sharif, has declared 2025 as the year of economic development for Pakistan, saying that the country’s economy is already showing significant improvement.
He stressed that economic stability is linked to political stability and highlighted the government’s efforts to deal with internal and external challenges during the past nine months.
He also emphasized the need to stop the growing terrorism and welcome the Parachinar Peace Accord.
Addressing the meeting of the Special Investment Facilitation Council (SIFC), Prime Minister Shehbaz Sharif pointed out the economic achievements during 2024 and said that this year the historical reduction in inflation reached 4.1%, which is the lowest level in 6.5 years.
2024 saw a reduction in interest rates and a 34% increase in remittances over five months.
A significant increase in exports was recorded and foreign exchange reserves increased from $4 billion to $12 billion. And the stock market hit an all-time high.
He attributed the success to the combined efforts of the government in defunct institutions for continued growth and prosperity. Collective action is essential.
The Prime Minister highlighted the important achievements in combating smuggling. 4 billion foreign exchange earned from rice exports. And sugar exports contributed $500 million by curbing illegal smuggling.
Additionally, Prime Minister Sharif noted developments in logistics, such as transportation to Russia through the NSC and ongoing agreements with countries such as Saudi Arabia, the United Arab Emirates, and Qatar in various sectors.
He stressed that political stability is essential for economic development and called for speedy progress on agreements. The The
The Prime Minister highlighted Pakistan’s potential to strengthen ties with Central Asian countries, including Azerbaijan and Uzbekistan, which are keen to expand economic cooperation and invest in Pakistan.
He called for collective efforts to seize this opportunity for the development of the country.
