Economic Growth Tied to Political Stability: PM Shehbaz Sharif

Prime Minister Shehbaz Sharif said that there is direct link between growth of economy and political stability while chairing a meeting on Special Investment Facilitation Council or SIFC. He pointed out that the macroeconomic performance has improved remarkably thanks to the hardworking of the economic team, and the country will reach prosperity and growth in 2025.

The head of the government listed priorities; thus, inflation was brought down from 10 to 4.1%; foreign remittances increased by 34%; and foreign exchange reserves soared from $4 billion to $12.5 billion. Growth in exports and tax revenues was also encouraging, rice export figure stood at $ 4 billion and sugar exports at $ 0.5 billion. Through MoUs amounting to billions of dollars with Saudi Arabia, Qatar and UAE, and promising foreign investors are expected.

PM Shehbaz also focused on the export led growth but at the same time admitted the fact that there were improvements in the area of smuggling and trade facilitation. He has appreciated the role of police force in fighting terrorism and offered sorrow over the latest losses in Kurram. But, he stressed, security is still important for sustaining development.