Shehbaz promises economic revamp

Prime Minister Shehbaz Sharif reiterated the government’s determination to address the country's economic challenges through structural reforms aimed at delivering maximum benefits to the populace.

He emphasized the importance of increasing the tax to GDP ratio, leveraging the abundant natural and agricultural resources, and combating issues like smuggling, power theft, and State-Owned Entities' losses.

Speaking at a ceremony distributing cheques to those affected by torrential rains and snowfall in AJK, the prime minister urged unity for the nation's progress, calling for collective efforts to ensure rapid development.

He highlighted the pressing issue of tax evasion, stressing its detrimental impact on the country's revenue.

He expressed concern over the current fiscal year's tax collection target of 1.2 trillion, emphasizing the need to tap into the nation's true potential and address tax evasion by certain segments to build essential infrastructure for the country's development.

He said even the salaries of the federal employees were being paid with borrowed money. Therefore, he said this was the right time to take tough and important decisions to resolve all the key challenges the country was facing.

Also read: Shehbaz, Zardari vow national revival

The prime minister informed the audience that the SOEs were incurring losses of hundreds of billions of rupees as the loss of only Pakistan International Airlines (PIA) stood at around Rs825 billion. Similarly, he said the country lost Rs500 billion every year to power theft.

The prime minister expressed heartfelt condolences for the loss of eight lives and extended prayers for the peace of departed souls and swift recovery of the injured in the recent rains, snowfalls, and landslides in AJ&K. He reiterated Pakistan's unwavering support for its Kashmiri brethren during challenging times.

During the event, he personally distributed cheques to the affected individuals. He announced that Rs2 million each would be provided to the families of the deceased and Rs500,000 each to the injured. Additionally, Rs700,000 would be allocated to those with fully damaged houses, while Rs350,000 would be provided to those with partially damaged homes

Emphasizing the significance of Jammu and Kashmir to Pakistan, he assured unwavering support for the Kashmiri people in times of adversity. Shehbaz highlighted the plight of over 20 million out-of-school children nationwide, proposing the utilization of mosques for educational purposes.

During the event, prayers were offered for those who lost their lives in the recent calamities. Prime Minister Anwaar-ul-Haq of Azad Jammu and Kashmir expressed gratitude to Shehbaz Sharif for his support during these challenging times.

He provided an update on the recent natural disasters, revealing the loss of eight lives and 88 fully damaged houses in AJ&K due to rains, snowfall, and landslides. –APP