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BEIJING, Jan 2 (APP):Pakistan’s recent economic turnaround stands as a compelling testament to the visionary leadership of Prime Minister Shehbaz Sharif, marking a transformative journey from the brink of sovereign default to a state of tangible, sustainable stability.
This was stated by Prof Cheng Xizhong, Senior Research Fellow at the Charhar Institute, a non-governmental Chinese think-tank on diplomacy and international studies based in Beijing.
He said that the encouraging 3.71% GDP growth recorded in the first quarter of the 2025-2026 fiscal year—more than double the 1.8% growth rate in the same period last year—serves as a resounding validation of the government’s prudent, forward-looking economic policies.
Driven by a robust 9.38% expansion in the industrial sector—a cornerstone of national economic vitality—this growth underscores the remarkable success of structural reforms initiated under PM Shehbaz Sharif’s stewardship, which have revitalized key productive industries and unlocked latent economic potential, he added.
Prof Cheng said that beyond headline growth metrics, the federal cabinet’s decisive approval of a suite of key legislative and economic measures further reflects the government’s unwavering commitment to inclusive growth that benefits all segments of society.
These initiatives include targeted relief packages to ease the burden on electricity consumers struggling with rising energy costs, alongside strategic amendments to energy-related legislation aimed at boosting sectoral efficiency and plugging fiscal leakages, he added.
Complementing these efforts, the government’s proactive measures to rein in persistent inflationary pressures have alleviated the cost-of-living burden for ordinary citizens, while concerted efforts to shore up foreign exchange reserves have strengthened Pakistan’s external economic resilience.
Collectively, Pakistan’s key economic indicators—from accelerating GDP growth and industrial expansion to stabilized inflation and enhanced foreign reserves—paint a vivid picture of national resilience and steady progress. Under PM Shehbaz Sharif’s steadfast leadership, Pakistan has not only successfully navigated the most acute phase of its economic crisis but also embarked on a clear path toward sustainable, inclusive growth, he said.
This remarkable turnaround not only restores investor confidence and reinforces economic sovereignty but also holds the promise of greater prosperity, improved livelihoods, and expanded opportunities for all Pakistani people in the years ahead, he concluded.