Prime Minister Shehbaz Sharif on Wednesday expressed confidence that, due to the untiring efforts of the economic team, the government would meet its economic targets in the next six months.
Speaking at the cabinet meeting, the prime minister noted that during the first five months of the current fiscal year, remittances had reached a record $15 billion, and he hoped they would rise to $35 billion by the end of the fiscal year.
He added that the government had managed to achieve macroeconomic stability, despite efforts by opposition to undermine its progress.
Wishing the participants of the meeting a happy new year, the prime minister said that the sun of 2025 will rise with the promise of progress and prosperity for Pakistan.
He prayed that the economic, political and law and order crises that the world faced in 2024 would be overcome by positive progress in the new year.
He said the ambitious homegrown five-year plan titled "Uraan Pakistan" that was launched yesterday would prove to be a milestone for the country's future provided "we remain on track and work hard to achieve the goals set in the plan".
He specifically appreciated the efforts of Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb and other cabinet members along with the relevant government officials.
He said having achieved economic stability, the country had now entered the growth stage. "If we want to achieve the economic development, then we will have to focus on export-led growth and we have no other option.
The prime minister also appreciate the efforts of Deputy PM Ishaq Dar, Governor State Bank of Pakistan, Finance Minister and Chairman FBR for collecting additional Rs 72 billion under ADR (advance-to-tax ratio) due to which the government's target of tax revenue for December 2024 had almost been achieved.
Similarly, he said due to funding by the Bill Gates Foundation of $6 million, the digitization work of Federal Board of Revenue (FBR) would become completely digitized.
The early results of this project were that the the 39% time duration of container inspection had been reduced while the businessmen got relief of 89%.
Additionally, he said smuggling of sugar through Afghanistan had been reduced to zero which was a positive sign for the country's economy. He gave the credit of reducing the smuggling to Minister for Industries and Production Rana Tanvir Hussain, the institutions and the Army Chief.
He said during first nine months of the government, no scandal surfaced which reflected the government's commitment to ensure transparency in all sectors.
As regards, terrorism in the country, the prime minister vowed that the law enforcing agencies were fully committed to halt the nefarious designs of the enemies.
Inflation
Prime Minister Shehbaz Sharif on Wednesday expressed satisfaction over inflation rate falling to 4.1% which is 81-month low.
He said in a statement issued from the Prime Minister's Office, macroeconomic stability was achieved but this was just the beginning.
PM Shehbaz Sharif said it was a welcoming progress that inflation rate came to 4.1% in December 2024. He said the government had launched a project like Uraan PakistanPakistan's Takeoff that would put Pakistan among the leading countries of the world.
"Government is pursuing a policy of economic reforms. The current account has gained surplus after 24 years. Inflation has come down from 38% to 4.1%, stock market has become the second-best market in the world," the PM added.
PM Shehbaz Sharif added that the policy rate has come down from 22% to 13% and with the hard work of the government's economic and financial team, the economy was moving towards stability.
"We [the government] are aware of the people's difficulties, and therefore worked day and night to solve the problems of the masses. Insha Allah [God willing], the lives of the people will improve further," the PM said.
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