Pakistan’s Economy on Path of Progress and Development: PM Shehbaz

Prime Minister Shehbaz Sharif on Wednesday expressed his satisfaction with Moody’s upgrade of Pakistan’s credit rating and attributed the achievement to the hard work of the economic team and the blessings of the Almighty. Chairing a review meeting on the country’s economic development and investment strategies, he stated that Pakistan’s economy had been rescued from default by prioritizing the country’s needs over his own political career during his previous term as prime minister. He expressed satisfaction that, after stabilization, the country’s economy was now on the path of progress and development. He noted that the benefits of the government’s focus on national interests over political gains were now evident in the economy. The prime minister also pointed out that Moody’s Caa2 rating for Pakistan was an international endorsement of the government’s economic strategies. He expressed optimism that the economy would maintain its positive trajectory and continue to progress. He added that the interest shown by the friendly countries in investing billions of rupees across various sectors was a direct outcome of the government’s business and investment-friendly policies. He warned that delays in executing investment projects from friendly countries would not be tolerated. He instructed all ministers and relevant institutions to take immediate action to accelerate progress on these proposed projects. The prime minister emphasized that Pakistan offers substantial investment potential in areas such as information technology, agriculture, minerals and precious stones, and energy. He added that foreign investment in these sectors would not only boost domestic exports but also generate employment opportunities for millions of young people. The meeting was also informed about the progress of the projects under the second phase of the China-Pakistan Economic Corridor (CPEC). The prime minister directed to give key importance to the element of transparency in all projects and to ensure their implementation on a priority basis. The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Jam Kamal Khan, Ahad Khan Cheema, Ahsan Iqbal, Muhammad Aurangzeb, Attaullah Tarar, Sardar Awais Khan Leghari, Dr Musadik Malik, and Abdul Aleem Khan. Also present were Ministers of State Ali Pervaiz Malik and Shaza Fatima Khawaja, Deputy Chairman of the Planning Commission Jehanzeb Khan, Prime Minister’s Coordinator Rana Ihsaan Afzal Khan, and other relevant senior officials.