PM orders strategy to tackle ME war fallout

Directs ministries to maintain close coordination

ISLAMABAD:

Prime Minister Shehbaz Sharif on Wednesday directed the relevant authorities to formulate a comprehensive strategy to curtail economic effects on public in the wake of current regional situation.

He stressed that the strategy should not disrupt production or the balance of supply and demand across economic sectors.

The prime minister further directed that both external and internal macroeconomic factors be carefully evaluated while formulating the strategy.

Chairing a review meeting to formulate the strategy aimed at safeguarding the country from financial and economic impacts arising from the tense regional situation, the prime minister said that many countries around the world were facing difficulties in maintaining the balance of supply and demand for essential commodities due to the current situation. However, he noted with satisfaction that Pakistan was effectively and successfully managing this challenge.

He appreciated that all relevant institutions had taken timely and effective measures to prevent any emergency situation in the supply and demand of essential goods.

The prime minister further highlighted that, after meeting domestic requirements for food and essential commodities, progress was being made successfully on a comprehensive strategy to export surplus production.

He reaffirmed that the government remained committed to taking all necessary steps for economic stability, growth, and public welfare.

In view of rising trends in global market prices, the prime minister directed that a medium- and long-term comprehensive strategy be developed to tackle financial and economic impacts on the country.

He specifically instructed that the strategy be formulated through close coordination among relevant ministries and institutions, keeping in view the stability and growth of all sectors of the economy.

The prime minister also directed that effective measures be proposed to minimize the impact of rising production costs on exports and overall economic output due to the global situation.

He emphasized the need to fully utilize available resources and opportunities to prevent negative impacts on agricultural and industrial production amid the current economic challenges.

During the briefing, it was informed that all relevant ministries and institutions were reviewing the economic impacts of the situation on a daily basis, in line with the prime minister's directives.

The meeting reviewed medium and long-term planning to address financial and economic challenges arising from regional tensions. The prime minister appreciated the coordinated efforts of all ministries and institutions and directed further improvement in collaboration.

He also expressed gratitude for maintaining the supply-demand balance of essential goods in Pakistan despite challenging conditions.

The meeting was attended by Minister for Planning Ahsan Iqbal, Minister for Finance Muhammad Aurangzeb, Minister for Power Division Sardar Owais Ahmed Khan Leghari, Minister for Information and Broadcasting Attaullah Tarar, Minister for Climate Change Musadik Malik, Minister for National Food Security Rana Tanveer Hussain, Minister for Petroleum Ali Pervaiz Malik, Minister for Economic Affairs Ahad Khan Cheema, Special Assistant to the Prime Minister Haroon Akhtar, Governor State Bank Jameel Ahmad, and other senior officials.

 

Digital investment

Prime Minister Shehbaz Sharif on Wednesday reaffirmed his government's commitment to facilitating foreign investment in Pakistan's digital economy, as VEON Group CEO Kaan Terzioglu expressed interest in expanding operations in the country.

According to the Prime Minister's Office (PMO) statement on X, during a meeting with a VEON delegation in Islamabad, the premier said the government was providing "all possible facilitation" to investors in the digital and telecom sectors, citing the recent 5G spectrum auction as evidence of Pakistan's "positive and effective direction" towards innovation.

PM Shehbaz said Pakistan was pursuing a comprehensive strategy to boost international investment in information technology while ensuring transparency through digitalisation of the economy.

"The government is taking practical steps, in coordination with all institutions, to facilitate international investors," the prime minister said, adding that the promotion of a cashless economy through effective use of IT remained a key priority.

The statement said that during the meeting, the prime minister noted that following the 5G spectrum auction, relevant institutions were working in coordination to ensure the provision of high-quality internet services.

"He also underscored the role of Pakistan's youth, saying their growing interest in IT and digital platforms made the country an attractive destination for global investors," it added.

Terzioglu appreciated the government's efforts to enhance transparency and improve the investment climate, saying Pakistan had moved "swiftly" towards achieving a digital economy and rolling out 5G services.

He also lauded initiatives aimed at promoting a cashless economy and expressed VEON's intention to further increase investment in Pakistan.

The meeting was attended by Finance Minister Aurangzeb, IT Minister Shaza Fatima Khawaja, Economic Affairs Minister Ahad Khan Cheema, Jazz CEO Aamir Ibrahim and other senior officials.

 

Youth in focus

Prime Minister Shehbaz Sharif said that the government was taking multiple steps to equip young people with professional skills and integrate them into the workforce, saying youth are the future of our nation.

According to a statement issued by the Prime Minister's Office (PMO), while chairing a review meeting on measures to increase job opportunities for youth, PM Shehbaz expressed satisfaction and stated that the government was accelerating efforts to provide technical and vocational training to youth in line with contemporary demands.

"PM Shehbaz observed that the recent reforms in the National Vocational and Technical Training Commission (NAVTTC) have significantly improved the delivery of technical education," the statement said.

According to the PMO, during the meeting, the prime minister stated that the comprehensive training programmes launched through NAVTTC were already yielding positive results, tapping into the potential of the youth workforce.

The statement also noted that, while emphasising the importance of preparing youth for international competition, the premier stressed the need for them to focus on obtaining international certifications alongside vocational training in high-demand skills for the global market.

The statement further added that, during the meeting, officials briefed the prime minister on efforts to create employment opportunities at both national and international levels.

The briefing noted that the PM Youth Programme and the Ministry of Foreign Affairs had already identified multiple international employment opportunities for young Pakistanis and are working to expand them further.

"The PM Youth Hub has assumed a central role in providing information on employment opportunities both nationally and internationally. Employment opportunities are available in IT, healthcare, construction, tourism, logistics, and other sectors abroad," the briefing added.

The statement also mentioned that the Higher Education Commission was tracking graduate employment from 282 universities across the country through a digital app, a system intended to inform future education policy.

According to the PMO, during the meeting, the PM Shehbaz also briefed that 32 institutions under the Federal Ministry of Education have introduced Matric-Tech, a vocational programme for secondary-level students. An Inter-Tech programme for higher-level technical training was also planned.

The review meeting was attended by federal ministers, including Dr Musadik Malik, Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Chaudhry Salik Hussain, Dr Ahsan Iqbal, Shaza Fatima Khawaja, and Minister of State Bilal Azhar Kiani, alongside the Chairman of the PM Youth Programme, the HEC Chairman, and senior officials from relevant institutions.