PM Shehbaz confident in resolving tax cases, boosting economic growth

Author:

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.

Share
Leave a Comment

Recent Posts

  • Pakistan

Hassan Nawaz faces £5.2M penalty as UK declares him tax defaulter

British authorities have officially declared Hassan Nawaz, son of PML-N President Nawaz Sharif, a tax…

7 mins ago
  • World

Funeral home director accused of neglecting body in Pennsylvania

A funeral home director in Pennsylvania faces criminal charges for allegedly allowing a deceased woman's…

11 mins ago
  • Sports

Shan Masood joins Leicestershire: A star signing for 2025 county season

Pakistan Test captain Shan Masood has signed an all-format contract with Leicestershire for the 2025…

16 mins ago
  • Pakistan

FIA arrests four for bribery at Faisalabad airport

The Federal Investigation Agency (FIA) has arrested three customs officials and an accomplice for allegedly…

25 mins ago
  • World

Blobfish triumphs as New Zealand’s fish of the year, sparking conservation hopes

The blobfish has won New Zealand's "Fish of the Year" competition, surprising many with its…

33 mins ago
  • Pakistan

FSC declares denial of women’s inheritance rights as illegal and un-islamic

The Federal Shariat Court (FSC) has ruled that any custom depriving women of their rightful…

40 mins ago