NEW YORK/NEW JERSEY: Prime Minister Shehbaz Sharif has said Pakistan’s economy is stabilizing at the micro level, with inflation falling into single digits and the policy rate reduced to 11%, compared to 32% inflation and a 22.5% interest rate just a year and a half ago.
Speaking to the media after his address to the UN General Assembly in New York, he praised overseas Pakistanis as “great ambassadors,” noting that they sent home $38.5 billion in remittances during 2024-25. “Their support has been crucial for Pakistan’s economic stability,” he remarked.
The premier also highlighted his recent international engagements, terming his reception in Saudi Arabia “unprecedented in the last 40 years” and describing his meeting with US President Donald Trump as “very encouraging.” He said Washington was ready to invest in Pakistan’s trade, IT, minerals, artificial intelligence, and cryptocurrency sectors. He added that mineral pricing and trade agreements with the US would be decided “fairly and in mutual interest.”
Reflecting on the May conflict with India, Shehbaz claimed Pakistan’s armed forces delivered a decisive victory. “From May 6 to 10, our forces bravely defeated India. We shot down seven planes and struck Delhi, Pathankot, and other locations,” he said, crediting Chief of Army Staff Field Marshal Syed Asim Munir for his leadership. He revealed that India sought a ceasefire after suffering losses, which Pakistan accepted “to avoid escalation.”
“Those who once never spoke properly to you are now embracing you,” Shehbaz said, calling it proof of Pakistan’s military strength and courage.
During his meeting with UN Secretary-General António Guterres, the prime minister raised the Kashmir issue and criticized India’s move to keep the Indus Waters Treaty in abeyance. He also urged greater international action on climate change, thanked the UN for recognizing Pakistan’s flood relief efforts, and reiterated Pakistan’s call for an immediate ceasefire in Gaza and the creation of a Palestinian state.
In his UNGA speech, Shehbaz declared that Pakistan sought peace after decisively repelling Indian aggression in May. “We have won the war, and now we seek to win peace in our part of the world. This is my most sincere offer before the nations of the world,” he said. He reminded the assembly that he had warned last year Pakistan would act decisively against any aggression. “The enemy came in arrogance; we sent them back in humiliation, delivering a bloody nose,” he said.
After completing his US visit, the prime minister left New York for London via Geneva, where he was expected to meet former premier Nawaz Sharif before joining Pakistan Muslim League-Nawaz leaders in the UK for consultations.