Says Pakistan met IMF’s December tax target despite challenges; Protesters tried to derail economy, but govt succeeded in improving financial landscape; Stresses need for export-led growth
Prime Minister Shehbaz Sharif asserted on Wednesday that despite persistent political unrest and protests aimed at destabilising the government, Pakistan has managed to achieve economic stability and to meet its fiscal targets.
Addressing the federal cabinet, the prime minister said, “Protests tried to derail the economy, but we succeeded in improving the financial landscape.”
He highlighted that the Federal Board of Revenue achieved 97% of its December tax collection target, meeting commitments made to the International Monetary Fund.
The PM praised officials for their efforts in mobilising resources, noting a significant contribution of Rs72 billion from Alternate Dispute Resolution measures. “Despite a substantial gap between targets and collections, the FBR leadership deserves appreciation,” he remarked.
Premier Shehbaz also commended measures to digitise Karachi Port operations through a $6 million grant from the Bill Gates Foundation, which reduced container processing time by 39%. This initiative, he said, has expedited trade and improved transparency.
On smuggling control, he stated that efforts by federal institutions and the military had effectively curbed the illicit flow of sugar and petroleum across borders, enabling the country to export surplus sugar. “This success is a testament to coordinated governance,” he added.
Highlighting remittance inflows, the premier shared that Pakistan received $15 billion in the first five months of the fiscal year. If the trend continues, remittances could surpass $35 billion, setting a national record.
Amid these achievements, the PM expressed concern over the resurgence of terrorism. He attributed the rise to the Afghan government’s release of militants, many of whom had infiltrated Pakistan.
“Our security forces are making daily sacrifices to combat this threat,” he said, calling for vigilance and resilience.
PM Shehbaz emphasised his government’s transparency and integrity. “Nine months of governance have passed, and there has not been a single scandal. The public stands witness to our commitment to clean administration,” he said.
While acknowledging the challenges, the PM urged all stakeholders to unite for the country’s prosperity in the new year.
He added, “If want to achieve economic progress then it has to be export-led growth, we don’t have any other option — related to this, I believe we have to take off in the growth sector, stability has been achieved, and now we have to move forward.”
Additionally, PM Shehbaz said smuggling of sugar through Afghanistan had been reduced to zero which was a positive sign for the country’s economy.
He claimed that the nation has now entered the development stage after achieving economic stability. “We have no choice but to concentrate on export-led growth if we are to achieve economic prosperity.
