PM Criticizes PTI for Fostering Hate Culture, Stresses Unity for Progress. Prime Minister Shehbaz Sharif has expressed optimism about the continued decline in inflation, which has recently dropped to single-digit levels. Speaking to private News channel on Monday, he highlighted that inflation was now at single digits and that the central bank’s markup rate had shown improvement. He expressed confidence that this downward trend would continue in the coming days.
The Prime Minister acknowledged the challenging circumstances his government faced upon taking office but assured that significant efforts were made to stabilize the economy. While noting some positive results, he emphasized that further work was needed to strengthen Pakistan’s economic position.
PM Shehbaz noted that his government had implemented measures aimed at improving the economy and eradicating the culture of favoritism. He reassured the public that the government remained dedicated to fixing the economy, though additional steps were necessary.
In his address, the Prime Minister also highlighted that the benefits of a healthier economy were becoming evident to the public.
The Prime Minister criticized the divisive political culture, stating that it harmed the country. He accused the previous PTI-led government of fostering an environment of hate, which, according to him, negatively impacted national unity and well-being.
PM Sharif emphasized that the country’s progress depended on mutual agreement and unity, rather than political conflict.
On governance, he underscored efforts to curb nepotism and bring systemic changes aimed at national betterment. He urged government officials to remain diligent in their efforts for the country’s development.
In addition, the Prime Minister acknowledged and praised the sacrifices made by the military in securing the nation and called on all stakeholders to work together sincerely for national growth.
Meanwhile, Federal Bureau of Revenue (FBR) Chairman Rashid Mahmood Langrial spoke on the need for a cautious approach to economic growth. He admitted that Pakistan’s taxation structure needed reform, particularly with the higher tax rates currently in place. Langrial warned that any growth push that wasn’t calibrated properly could have detrimental effects on the economy, stressing the importance of gradual economic progress.
Pakistan, which secured a $7 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) in September 2024, is navigating a difficult recovery path. The country narrowly avoided a sovereign debt default in 2023, with its reserves insufficient to cover a month of controlled imports. In the first quarter of the fiscal year, Pakistan’s economy grew by just 0.92%. To boost revenue, the government has accelerated privatization efforts, although attempts to privatize Pakistan International Airlines (PIA) and outsource the capital’s airport have not been successful.
