ISLAMABAD: Prime Minister Shehbaz Sharif has highlighted the importance of export-led growth as a key strategy to drive economic development in Pakistan. During a federal cabinet meeting held in Islamabad, the Prime Minister expressed satisfaction with the country’s current macroeconomic stability and urged a shift towards sustainable growth.
According to Radio Pakistan, Prime Minister Sharif emphasized the significance of Uraan Pakistan, a homegrown five-year economic plan, as a pivotal initiative that could bring positive developments in the coming year. While he acknowledged the progress made, he stressed the necessity for continued diligence and determination to meet set targets. The Prime Minister commended various ministries for their contributions to the formation of the economic plan.
In his remarks, Prime Minister Sharif noted that foreign remittances had reached $15 billion in the first five months of the current fiscal year. He expressed optimism that, if this trend persisted, remittances could hit a historic $35 billion mark. He also highlighted that the revenue collection target for December was met by 97 percent, describing this as an encouraging development. Additionally, he mentioned that a trial run of the Faceless Customs Assessment System at Karachi Port had facilitated the business community by reducing container inspection times by 39 percent.
The Prime Minister credited the Army Chief for efforts in eradicating sugar smuggling to Afghanistan, stating that such activities had been brought down to zero. He remarked that these accomplishments had been achieved despite ongoing sit-ins by certain groups.
Efforts are also ongoing for rightsizing and downsizing within government services, Sharif stated. He highlighted the establishment of a world-class airport in Gwadar with Chinese support, envisioning it as a future commercial hub with significant potential.
Prime Minister Sharif also acknowledged the sacrifices made by security personnel in the fight against terrorism.
Deputy Prime Minister and Foreign Minister Ishaq Dar informed the cabinet that Pakistan is commencing its term as a non-permanent member of the UN Security Council for 2025-2026, a diplomatic milestone commended by the cabinet.
The Prime Minister also requested a detailed report on public sector imports through Gwadar Port over the last three months, to be presented at the next cabinet meeting. The cabinet further approved new rules for appointing Information Group officers in Pakistani missions abroad to enhance transparency and merit. Additionally, it sanctioned the registration of the Liaquat University of Medical and Health Sciences in Thatta.