Prime Minister Shehbaz Sharif has stated that Pakistan will honor its commitments to the International Monetary Fund (IMF), but stressed that excessive taxes cannot sustain the country’s economy.
Speaking at the Pakistan Stock Exchange in Karachi on Wednesday, the prime minister reiterated plans for self-reliance.
Prime Minister Shehbaz stressed that while agreements with the IMF are currently necessary, Pakistan will separate from the institution “when the right time comes.”
Highlighting the importance of Karachi, he highlighted its resurgence as a financial and export hub and attributed the city’s improved prospects to the collective efforts of the government.
“Karachi’s lights had dimmed in the past, but today it shines once again,” Prime Minister Shehbaz said, adding that the city remains the center of Pakistan’s trade and finance. He stressed the importance of harnessing the momentum of the stock market for economic growth.
The prime minister expressed optimism about future initiatives, including the ‘Uraan Pakistan’ program aimed at boosting the country’s economy. He described recent successes as a result of teamwork, but stressed the need to continue growth-focused reforms.
Earlier, Prime Minister Shehbaz was received at Pakistan Air Force Base in Faisal by Sindh Governor Kamran Tessori and Chief Minister Murad Ali Shah. He was accompanied by Finance Minister Ishaq Dar, Information Minister Attaullah Tarar and other officials.
The Prime Minister will also visit KPT and Aga Khan University later in the day and hold meetings with business leaders.
Prime Minister Shehbaz in Karachi on a one-day visit
Prime Minister Shehbaz Sharif is in Karachi on a day-long visit where he will inaugurate the new faceless customs assessment system aimed at improving the efficiency and transparency of the customs clearance process.
Upon arrival at Faisal Air Base, Prime Minister Sharif was received by Sindh Governor Kamran Tessori and Sindh Chief Minister Murad Ali Shah. Radio Pakistan reported on Wednesday.
According to a statement from the Prime Minister House, Sharif will attend a ceremony at the Pakistan Stock Exchange (PSX), where he will also mark the milestone of the PSX crossing the 100,000 point mark.
In addition to his visit to the Stock Exchange, Prime Minister Sharif will tour the South Asia Port Terminal. You are due to receive a briefing on the new faceless assessment system being implemented at the port, which is expected to reduce clearance times and increase transparency in the customs process.
The new automated customs clearance system, known as Faceless Customs Assessment System, was a directive by Prime Minister Sharif during his previous visit to Karachi.
The system is expected to improve the efficiency of customs clearance and increase transparency.
During his trip, the Prime Minister will also meet Sindh Chief Minister Murad Ali Shah.
