Prime Minister Shehbaz Sharif has said achieving economic stability was never an easy task, but the government succeeded in steering the country back onto the right path through dedicated reforms.
He made these remarks while addressing the launching ceremony of Economic Governance Reforms where he said when his government assumed office in 2024, Pakistan was facing severe economic challenges.
He added at that time, Inflation was rising rapidly, debt repayment pressures were mounting, and the overall economic situation was fragile. Under such circumstances, he said, tough and unavoidable decisions had to be taken.
PM Shehbaz Sharif acknowledged that many of these decisions were politically costly and unpopular, but emphasized that they were taken in the best national interest. He said the government shifted its focus from mere survival to economic stability and long-term growth.
The Prime Minister highlighted that bold steps such as privatization were undertaken, despite the fact that such initiatives had remained neglected for decades. He noted that years of delay had pushed Pakistan’s development prospects further away, making reforms unavoidable.
He revealed that the reform agenda includes 59 priority reforms, 83 supplementary reforms, and the involvement of 58 implementing institutions. According to him, these measures played a key role in helping Pakistan emerge from the economic crisis.
“For the first time, we introduced a home-grown reform agenda based on Pakistan’s best interests,” PM Shehbaz Sharif said, adding that while international institutions provided support, the agenda itself was designed locally to ensure sustainable development.
The PM further stated that Pakistan must move forward rapidly by consistently implementing this agenda. He pointed out that the Federal Board of Revenue (FBR) was digitalized for the first time, moving it away from a paper-based system, while the e-procurement system was implemented after overcoming prolonged legal challenges.
Emphasizing accountability, PM Sharif said the government remains answerable to the nation. He praised the collective efforts of federal institutions, ministers, and officials, stressing that such comprehensive reforms would not have been possible without teamwork.
“There should be no doubt that this is a difficult and demanding journey,” the Prime Minister said, adding that Pakistan will have to face challenges as vast as oceans to achieve economic growth. He acknowledged that the path already traveled was filled with hardships.
Concluding his remarks, PM Sharif said that through relentless day-and-night hard work, dedication, and sacrifice, success will ultimately belong to the nation. He reiterated that economic reforms are a nationally owned agenda, with global institutions extending cooperation to support Pakistan’s economic revival.
