ISLAMABAD: Prime Minister Shehbaz Sharif emphasized that the government is diligently striving to achieve significant reductions in energy costs in the upcoming months, as the industrial and agricultural sectors encounter difficulties stemming from rising power tariffs.
Speaking at an opening ceremony of a local hotel, he said maintained that a competitive industrial sector is key for economic growth, affirming his government’s commitment to ease the cost of doing business.
The incumbent government, he added, is making significant efforts to enhance the ease of doing business and facilitate trade for businessmen in order to revitalizing economic growth in the country.
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He expressed hope about the country’s economic revival and reiterated the government’s commitment to fostering progress in multiple sectors.
He highlighted the government’s efforts to stabilise the economy, noting that inflation has reduced below 5%, and the banking policy rate was under 13 percent.
He emphasised the growth in exports, particularly in the information technology (IT) sector and outlined the government’s vision for economic development in agriculture, industry, IT, mining and minerals. He reaffirmed the government’s stance on downsizing and rightsizing public entities to reduce government expenses.
Announcing a new initiative for the privatisation of Pakistan International Airlines (PIA), he invited Pakistani investors to participate in a transparent bidding process.
During the 1990s, he said that the banks were effectively privatized under the leadership of then-prime minister Nawaz Sharif, resulting in their current success. Similarly, he asserted that Pakistan International Airlines (PIA) will undergo a transformation into a world-class airline, reminiscent of its status in the 1960s.
He maintained that Pakistan is on track to conclude its final International Monetary Fund (IMF) programme. He highlighted that the ongoing efforts to remove obstacles to foreign investment, noting that initiatives to improve the ease of doing business will soon be launched.
“Pakistan will resurrect as a great nation through the collective efforts of stakeholders and nation-builders,” he added.
Copyright Business Recorder, 2025
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