Prime Minister Shehbaz Sharif, addressing the federal cabinet meeting, announced that inflation has reached its lowest level in 70 months, while smuggling to Afghanistan has been completely eradicated due to the army’s effective control.
He highlighted that inflation has now dropped to 4.9%, compared to 3.5% during Nawaz Sharif’s tenure in 2018. He expressed hope that this decrease would ease the burden on the common man and anticipated that the State Bank might further reduce interest rates in its next policy meeting.
Discussing the recent political turmoil, the Prime Minister noted that protests, especially in Islamabad, created chaos, resulting in a significant dip in the stock market. However, the situation improved once the demonstrators dispersed, leading to recovery and increased profits in the market.
PM Shehbaz emphasized the need to focus on economic growth and achieve targets through collective effort.
He lauded the increase in revenue collection, attributing it to effective enforcement. He also mentioned that despite exporting sugar, local prices remained stable, generating approximately $5 billion in revenue for the country.
The Prime Minister credited the elimination of smuggling to the army’s strict control, stating that regular monitoring alone could not have resolved the issue.
He congratulated Defence Minister Khawaja Asif, former Minister Saad Rafique, and allied leaders on the resumption of PIA flights to Europe.
Reflecting on past challenges, he criticized a former minister’s reckless statement about fake pilot licenses, which caused significant losses to PIA and hindered privatization efforts. However, he assured that steps are being taken to steer the economy towards stability and growth
