Urgent need to fast-track govt’s ambitious economic reforms: PM

ISLAMABAD: In a forceful kick-off to 2026, Prime Minister Shehbaz Sharif on Thursday directed that ministries take immediate and decisive action, underscoring the urgent need to fast-track the government’s ambitious economic reforms aimed at steering the country’s faltering economy back on track.

Chairing a high-level meeting to assess the progress of ongoing administrative and economic reforms, as well as efforts to ramp up investment, Sharif made it crystal clear that ministries must present clear, concrete proposals with actionable strategies – and fast.

“The government is fully committed to reform, and there can be no more delays. Every ministry must fall in line with this agenda,” he declared.

READ MORE: PM launches Pakistan’s Economic Governance Reforms

He also put the spotlight on the country’s regulatory environment, insisting that improving the ease of doing business remains a priority. Sharif called for sweeping institutional and administrative reforms to create a more investor-friendly landscape, something that has long been a thorn in Pakistan’s side.

A central theme of the meeting was boosting both foreign and domestic investment. The prime minister tasked ministries with coming up with specific, actionable plans to attract investment and foster business opportunities across the country. He doubled down on the importance of foreign capital, urging ministries to step up their collaboration with Pakistan’s embassies abroad to pave the way for investment.

“Our embassies must be fully equipped to support investors and eliminate any red tape that could impede the process,” he said. The PM also gave a stark reminder of the critical role exports must play in the country’s economic recovery.

With the country’s growth prospects teetering, Sharif emphasised that driving export-led growth would be essential for long-term economic stability.

“Exports are the lifeblood of this economy,” he said, firmly placing export promotion at the top of the reform agenda.

But perhaps most strikingly, the PM insisted that no one would be able to afford business as usual. The meeting also underscored the need for stronger coordination between ministries and between federal and provincial governments. The success of these reforms, Sharif insisted, depends on seamless collaboration at all levels of government. “A fragmented approach will get us nowhere. We need a unified strategy,” he maintained.

As the first major economic meeting of the year, it was an opportunity for ministries to update the PM on ongoing development projects and institutional reforms.

But while progress had been discussed, Sharif made it clear that results had so far been disappointing. The message was clear: the clock is ticking, and time for half-measures has long passed.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Planning and Development Ahsan Iqbal, Minister for Information Ataullah Tarar, Minister for Petroleum Ali Pervez Malik, Minister for Economic Affairs Ahad Cheema, Adviser to the PM on Political Affairs Rana Sanaullah, Special Assistant to the PM on Industries Haroon Akhtar, Chief Secretaries of all four provinces, and other key officials, including the National Coordinator of the Special Investment Facilitation Centre (SIFC), a military-backed initiative designed to unlock investment.

Copyright Business Recorder, 2026