Prime Minister Shehbaz Sharif has stressed that if one stays in the past, they cannot move forward, adding that the past should be left behind and moved forward.

Addressing the Pakistan-China Business Forum in China's Shenzhen city during his five-day visit, Shehbaz said that visiting China was very important. “I congratulate China for organizing a wonderful business conference. China is our closest and best friend," he remarked.

He further said that the development of the Chinese city of Shenzhen was a beacon for Pakistan. The latter's economy had no competition with China, as the blot of corruption had been removed from the country. "Pakistan is taking effective measures to control corruption. It has established a council to facilitate doing business in Pakistan and started work on structural changes as well," the PM explained.

Shehbaz said China had become the world's second-largest economy and military power in a short period of time. The world should learn from China's development, he said, adding that now was the time to move forward through bilateral dialogue.

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"China's development is an example for all of us to follow. The Chinese people and leadership did not come under any pressure," he said further.

The PM further recalled that in 2017, he met with the chairperson of the Chinese Exim Bank, who gave him the title of 'Shehbaz Speed' over the development works in Punjab. "Punjab Speed will be changed to Pakistan Speed," he vowed.

Addressing the ceremony, Finance Minister Muhammad Aurangzeb said that inflation was a major problem in Pakistan, however, the rate of inflation had decreased significantly, and all economic indicators were moving in a positive direction.

He claimed that this year, the current account deficit would be less than Rs1 billion and the rate of inflation would decrease from 38% to 11%. "The prices of food and beverages are decreasing rapidly. We need to discuss the issue of interest rates this year," he said.

The minister said the Pakistani currency had stabilized in the past few months, while the government was focusing on economic reform agenda, foreign investment was increasing, and investors were confident.