Karachi: Prime Minister Shehbaz Sharif has stated that Pakistan’s economy has regained stability and is now poised for economic growth. Addressing an event at the Pakistan Stock Exchange in Karachi, he emphasized that the goal is to transform economic stability into sustained growth.
Expressing his pleasure at visiting the stock market for the first time, the Prime Minister congratulated the market for its success, calling it a result of effective teamwork. “Successes are the result of teamwork. In the past, we have seen and heard many promises, but those who claim everything is fine are living in a fool’s paradise,” he remarked.
Shehbaz Sharif outlined that the country needs hard work and efficient teamwork to achieve economic growth. He noted that Karachi, which has long been the economic, financial, and export hub of Pakistan, is now once again seeing a resurgence of its vibrancy after a period of decline. “Karachi’s lights had faded for a while, but now they are back,” he said, stressing the need to lead Pakistan towards development and prosperity.
He highlighted that Pakistan possesses natural resources worth trillions of dollars. “We do not want to dwell on the painful past. We must learn and understand how to harness our talent, resources, and hard work,” the Prime Minister said, adding that investors play a key role in Pakistan’s development.
On Pakistan’s international standing, Shehbaz Sharif pointed out the contradiction of holding both a begging bowl and nuclear power. “It is our responsibility to honor our commitments to the IMF, but when the time comes, we will bid farewell to the IMF. Our goal is to restore Pakistan’s respect in the international community.”
The Prime Minister also drew comparisons to post-World War II Germany and Japan, which, despite facing destruction, managed to rebuild and prosper. “Germany and Japan were decimated during the war, but they emerged as strong economies. Similarly, Pakistan will survive and thrive,” he added.
Finance Minister Mohammad Aurangzeb, speaking at the event, lauded the development of the stock market as a reflection of investor confidence in the country’s economy. He mentioned that the IMF agreement had put Pakistan on a path of economic stability, and the stock market had reached key milestones in its recovery.
Aurangzeb also pointed out ongoing efforts to introduce structural reforms, including in loss-making state-owned enterprises. “We are reviewing economic performance on a quarterly basis and initiating the digitization of the Federal Board of Revenue (FBR). Reforms in the energy sector are crucial for driving the economy forward,” he said, emphasizing the role of the stock market in the country’s future progress.
