Daily Times

Prime Minister Shehbaz Sharif expressed optimism about resolving Rs400 billion in pending tax cases, citing a recent court ruling that provided Rs23 billion in relief. Speaking at a cabinet meeting, he highlighted key reforms, including e-governance, FBR digitalisation, and an increase in foreign exchange reserves from $4 billion to $12 billion.

Sharif called state-owned enterprises (SOEs) financial burdens, stressing the need for urgent reforms as their losses reached Rs850 billion. He linked economic revival to security improvements, stating that eradicating terrorism would attract investment. He praised institutional alignment, emphasizing the importance of increasing revenue, reducing reliance on loans, and ensuring a sustainable economic future.

Reflecting on economic progress, he recalled that Pakistan was on the brink of default when his government took charge. However, through decisive actions, they stabilised the economy, reduced inflation, increased foreign investment, and strengthened reserves. He projected that with consistent policies, Pakistan’s economy could reach $1 trillion by 2035 under the “Uraan Pakistan” programme.

Sharif also acknowledged financial support from Saudi Arabia and the UAE, crediting the army chief for securing key financial commitments. He reaffirmed Pakistan’s path toward long-term prosperity despite ongoing economic challenges, emphasizing the need for continued reforms and investment-friendly policies.