Islamabad, December 02,2024 Prime Minister Shehbaz Sharif criticized PTI for damaging the country’s reputation through illegal tactics, claiming their protests caused turmoil, including a steep decline in the stock market. Speaking during a federal cabinet meeting, the Prime Minister noted that inflation has dropped to its lowest level in 70 months, providing relief to ordinary citizens.
Shehbaz Sharif highlighted that while inflation is expected to decline further, decisions regarding monetary policy rest with the State Bank. Reflecting on recent protests, he stated they created nationwide chaos, especially in Islamabad, leading to vandalism, and the loss of lives among Rangers and police officers.
“The sit-ins caused a sharp 3,500-point drop in the stock market in a single day. However, as soon as action was taken to disperse the protests, the market rebounded, recovering its losses and even gaining further,” he said. The Prime Minister emphasized that economic stability is crucial for growth and credited teamwork for the reduction in inflation, now at 4.9% — the lowest since inflation reached 3.5% during Nawaz Sharif’s tenure.
Discussing measures against smuggling, Shehbaz Sharif revealed that sugar smuggling to Afghanistan has been eradicated, resulting in reduced domestic prices and increased exports due to surplus availability. He attributed this success to the military’s decisive actions.
The Prime Minister also noted progress in addressing past challenges, such as the European ban on PIA flights, which followed a controversial statement by a former PTI minister regarding pilots. “The lifting of the PIA ban is great news, and I congratulate Khawaja Asif for this achievement,” he added.
