ISLAMABAD, January 1, 2025: Prime Minister Muhammad Shehbaz Sharif expressed optimism on Wednesday that the government, through the tireless efforts of its economic team, would achieve its economic targets within the next six months.
Addressing a cabinet meeting, the prime minister highlighted significant progress in the first five months of the current fiscal year, including record remittances of $15 billion, which he projected would reach $35 billion by the fiscal year’s end.
Despite facing challenges from political opponents, who he said had attempted to derail the government’s efforts, Shehbaz Sharif noted that macroeconomic stability had been achieved. He extended New Year greetings to the meeting participants and expressed hope that 2025 would usher in an era of progress and prosperity for Pakistan.
He prayed for global recovery from the economic, political, and security crises of 2024, emphasizing that Pakistan’s newly launched five-year development plan, “Uraan Pakistan,” would be a milestone in shaping the country’s future. “If we stay on track and work diligently, this plan will transform Pakistan’s economic landscape,” he stated, applauding the efforts of Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, and other cabinet members.
The prime minister emphasized the importance of export-led growth, describing it as the only viable path for sustainable economic development. He also commended the Deputy Prime Minister Ishaq Dar, the Governor of the State Bank of Pakistan, and the Federal Board of Revenue (FBR) for achieving an additional Rs. 72 billion in tax revenue under the advance-to-tax ratio (ADR), bringing the government close to meeting its December 2024 revenue targets.
He announced that a $6 million grant from the Bill Gates Foundation had enabled the FBR’s digitization project, which had already delivered promising results. These include a 39% reduction in container inspection time and 89% relief for businesses.
The prime minister also highlighted the successful curbing of sugar smuggling through Afghanistan, crediting Minister for Industries and Production Rana Tanvir Hussain, law enforcement agencies, and the Army Chief for their efforts. “Eliminating sugar smuggling is a positive sign for the economy,” he remarked.
Shehbaz Sharif praised the government’s commitment to transparency, noting that no scandals had surfaced during the first nine months of his administration.
On the issue of terrorism, he reaffirmed the government’s resolve to counter the enemies’ nefarious designs, assuring that law enforcement agencies were fully committed to maintaining peace and security across the country.
