PM calls for growth-focused economic agenda after achieving macroeconomic stability

ISLAMABAD, Jun 10 (APP): Prime Minister Shehbaz Sharif on Wednesday said that Pakistan had achieved macroeconomic stability and now needed to focus on accelerating economic growth, boosting employment opportunities and improving the living standards of the common people.

Addressing a meeting of the National Economic Council (NEC), the prime minister said the federal government had worked with complete sincerity and maintained close consultations with the provinces on all important matters, taking decisions in the larger national interest.

He appreciated the cooperation of the provincial chief ministers during the budget-making process and acknowledged their support in managing financial resources during challenging times.

He emphasized that while economic indicators at the macro level had stabilized, the next crucial phase was to inject growth into the economy.

“Moving forward, economic activity and development are a joint responsibility of the federation and the provinces,” he said.

The prime minister noted that Pakistan remained in the International Monetary Fund (IMF) programme and had successfully navigated several difficult challenges. Referring to the recent regional tensions, he said oil prices had increased due to the crisis, creating additional economic pressures.

He said the unity and coordination among all four provinces had helped the government effectively manage the situation and ensure uninterrupted fuel supplies across the country.

“Due to well-planned policies and close coordination, there was no panic at petrol pumps,” he remarked.

The prime minister said the federal government had remained in constant consultation with the provinces for several weeks to devise strategies for efficient resource management.

Speaking about the defence budget, he paid tribute to the sacrifices rendered by law enforcement agencies and the armed forces in the fight against terrorism.

“Our officers and personnel are making immense sacrifices against terrorism,” he said, expressing confidence that terrorism would be eradicated through collective national efforts.

The prime minister observed that despite achieving macroeconomic stability, ordinary citizens remained concerned about employment opportunities and access to basic facilities.

“To address these concerns, we must accelerate economic growth,” he said, stressing the need to promote agriculture, exports and industrial development.

He underlined the importance of mobilizing resources and providing incentives to key sectors to revive industrial activity and strengthen the national economy.

Shehbaz Sharif also informed the meeting that he had held a detailed discussion with the IMF Managing Director the previous night.

He said she had appreciated Pakistan’s sincere efforts to stabilize the economy and expressed support for the country’s reform agenda.

The prime minister said Pakistan must move forward with greater speed and determination to achieve sustainable economic growth and prosperity.