ISLAMABAD: Prime Minister Shehbaz Sharif, while expressing satisfaction with the performance of his government, has said that when corrupt elements were removed from the system, the revenue of just one sector increased from Rs12 billion to Rs50 billion.
Addressing selected students at the Udan Pakistan Summer Scholars Program, Prime Minister Shehbaz Sharif said that the government is making long-overdue reforms, structural changes and a merit-based system its top priority for complete economic revival.
He said, “We have made collective efforts to remove the threat of bankruptcy, stabilized the economy and now the interest rate has come down from 22.5 percent to 11 percent.”
The Prime Minister said that when he took over the government in 2023, the country was facing a serious economic crisis, with inflation at 38 percent and the policy rate at the highest level in history.
He said that the country was saved from bankruptcy through tough negotiations with the International Monetary Fund (IMF), we took serious decisions, believed in teamwork and implemented reforms without any recommendation or pressure.
The Prime Minister further said that the digitization process in the Federal Board of Revenue (FBR) has been completed and corrupt elements have been removed from the system.
He said that with reforms in just one sector, revenue has increased from Rs12 billion to Rs50 billion and there are hundreds of sectors where the tax net can be expanded.
The Prime Minister said that we have made a leap TOPS and educational scholarships are distributed on full merit, spending on education is actually an investment, the young generation is the bright future of the country and the spending on them is actually a guarantee of the development of the nation.
He said that educational scholarships were given to millions of students, who are completing their education from international institutions today.
Addressing the ceremony, the Prime Minister said that Pakistan is among the top 10 countries affected by climate change and we suffered a loss of $ 30 billion from the 2022 floods, although Pakistan’s share in global emissions is negligible.
The Prime Minister said that we offered a transparent investigation into the Pahalgam attack, but India did not even respond to it.
The Prime Minister said bluntly that after the attacks on Pakistan, full defense was provided, 6 Indian aircraft were shot down and on the morning of May 10, a befitting reply was given to the enemy, our success is the fruit of unity and the professionalism of the Pakistani armed forces, Pakistan’s nuclear program is only for defense, not for aggression.