Prime Minister Shehbaz Sharif on Saturday reaffirmed his government’s commitment to achieving economic prosperity through long-overdue structural reforms, institutional changes, and a renewed focus on merit-based governance.
“The road is very challenging as there were long overdue reforms, and the structural changes had not taken place in the last many decades,” he said while addressing a group of Pakistani students, who are getting education in the world leading educational institutes and selected for government’s internship summer scholars programme of Uraan Pakistan.
The prime minister stressed that Pakistan had to undertake these overdue long structural changes, through untiring and long efforts.
At the outset, he pointed out that when the Pakistan Muslim League-Nawaz (PML-N) took charge of the government during 2023, Pakistan was facing a serious threat of default and their fate was hanging in balance.
“The majority viewed that Pakistan would go into default while the minority thought that we will escape this disaster,” he said, adding that he held marathon discussions with the International Monetary Fund (IMF) managing director and assured that Pakistan would not run into default and achieve the IMF programme.
The prime minister said that at that period, the economy was in bad shape, with galloping inflation touching 38% while policy rate was hovering at 22.5%. The business atmosphere in the country was very skeptical.
