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HomeLatest NewsBusinessPM Shehbaz vows to transform Pakistan's economic landscape in five years

PM Shehbaz vows to transform Pakistan’s economic landscape in five years


Prime Minister Shehbaz Sharif (left) chairs a federal cupboard assembly in Islamabad on March 28, 2024. —PMO
  • Progress of  ministries might be reviewed often, PM says.
  • “We have now to chop our expenditures,” PM tells cupboard members.  
  • He warns of strict motion towards unlawful commerce and energy theft.

Expressing his agency resolve to remodel the nation’s financial panorama, Prime Minister Shehbaz Sharif Saturday directed the ministries to plan methods to attain targets set in a five-year roadmap.

The prime minister made the remarks whereas chairing a gathering of the federal cupboard.

“I’ve shared broad parameters of a five-year plan with all of the ministries, specifying their targets,” he stated, including that the progress of the ministries on these targets would even be reviewed often.

The premier stated: “We have now to chop our expenditures and take the nation in the direction of self-reliance.”

Expressing his willpower to uplift varied sectors equivalent to agriculture and Info Know-how, the nation’s chief govt resolved to take the nation on the expansion trajectory and create employment alternatives, Radio Pakistan reported.

The PM was assured that the Ministry of Commerce would take the requisite steps to double the nation’s exports earlier than the expiry of the five-year tenure of the present authorities.

Talking on the event, the premier warned of strict motion towards unlawful commerce, energy theft, and different leakages.

He stated a programme has been chalked out for the whole digitalisation of the Federal Board of Income (FBR), including that consultants can be employed by subsequent month for this function.

Minister for Finance and Income Muhammad Aurangzeb has confirmed that the federal authorities will maintain a gathering with the Worldwide Financial Fund (IMF) on April 14 and 15 in Washington for brand spanking new mortgage programme.

Addressing journalists throughout his go to to the Pakistan Inventory Alternate (PSX) in Karachi a day earlier, Aurangzeb stated options of the brand new programme might be mentioned in the course of the assembly, whereas detailed talks can be held in Pakistan.

He additionally reiterated the federal government’s plans to enter a significant programme with the worldwide lender; whereas, the microeconomic stability would additionally proceed with the Fund.

PM Shehbaz had on March 21 signalled that the brand new IMF programme was more likely to be continued for 3 years.

“New tranche of mortgage is more likely to be acquired from the IMF in a couple of days, nonetheless, we would want one other programme,” he had stated whereas addressing a session of the Particular Funding Facilitation Council’s (SIFC) apex committee attended by civil-military management.

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