ISLAMABAD: Prime Minister Shehbaz Sharif on Friday expressed confidence in the country’s economic recovery, following a notable surge in the nation’s GDP for the first quarter (July-September) of the current financial year.
Addressing a meeting of the federal cabinet, the Prime Minister described the growth as encouraging and reiterated that the government had successfully steered the country from the brink of default to a state of economic stability.
In his remarks, he emphasised the government’s commitment to reform loss-making state-owned enterprises (SOEs), a key priority upon taking office. He highlighted the recent privatisation of Pakistan International Airlines (PIA) as a major milestone in this effort, marking a significant step towards greater efficiency and fiscal health. “The privatisation of PIA is a crucial turning point in our economic reform agenda,” he said, adding that the process was carried out with the highest standards of transparency and efficiency.
The Prime Minister further noted that the recent privatisation of 75percent of PIA’s shares had been completed successfully, marking a significant achievement for the government. “We have not only safeguarded the future of this iconic national institution but also ensured that the privatisation process was transparent and fair.”
READ MORE: Rs 135 billion PIA bid cleared by Cabinet Committee on Privatization
On the diplomatic front, Prime Minister Sharif underscored the positive outcomes of his recent engagements with key international leaders. He described his recent meetings with the President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, as highly beneficial, with discussions centring on enhancing bilateral relations and cooperation.
Additionally, the prime minister shared details of a cordial phone conversation he had with Saudi Crown Prince and Prime Minister Mohammed bin Salman recently, where both sides expressed satisfaction over the progress of economic and strategic ties. “The discussions with Prince Mohammed bin Salman were productive, and we have agreed on further deepening our relationship in the months to come.” However, he stressed the importance of strengthening Pakistan’s ties with both the UAE and Saudi Arabia.
In the same meeting, the prime minister extended New Year greetings to the members of the federal cabinet, wishing them success in the coming year. He also took the opportunity to thank them for their collective efforts in advancing the government’s policy agenda.
During the meeting, the cabinet endorsed a series of decisions made by the Cabinet Committee for Legislative Cases, including the approval of actions related to the Islamabad Capital Territory Local Government (Amendment) Ordinance of 2025. Additionally, decisions from the Committee’s meeting on 3 December 2025 were also ratified.
Copyright Business Recorder, 2026
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