ISLAMABAD:
Prime Minister Shehbaz Sharif on Wednesday directed relevant authorities to formulate a comprehensive strategy to reduce the economic effects on the public in the wake of the current regional situation.
He stressed that the strategy should not alter production or the balance between supply and demand in all economic sectors.
The prime minister further directed that external and internal macroeconomic factors be carefully evaluated while formulating the strategy.
Chairing a review meeting to formulate the strategy aimed at safeguarding the country from the financial and economic impacts arising from the tense regional situation, the prime minister said many countries across the world are facing difficulties in maintaining the balance of supply and demand of essential commodities due to the current situation. However, he noted with satisfaction that Pakistan was managing this challenge effectively and successfully.
He appreciated that all relevant institutions had adopted timely and effective measures to prevent any emergency situation in the supply and demand of essential goods.
The Prime Minister further highlighted that after meeting domestic needs for food and essential commodities, a comprehensive strategy to export surplus production was being successfully advanced.
He reaffirmed that the government remained committed to taking all necessary measures for economic stability, growth and public well-being.
In view of rising global market price trends, the Prime Minister directed that a comprehensive medium and long-term strategy be developed to address the financial and economic impacts on the country.
He specifically directed that the strategy be formulated through close coordination between relevant ministries and institutions, taking into account the stability and growth of all sectors of the economy.
The prime minister also ordered that effective measures be proposed to minimize the impact of rising production costs on exports and overall economic output due to the global situation.
He emphasized the need to fully utilize available resources and opportunities to prevent negative impacts on agricultural and industrial production amid current economic challenges.
During the briefing, it was reported that all relevant ministries and institutions were reviewing the economic impacts of the situation on a daily basis, in line with the Prime Minister’s directives.
The meeting reviewed medium and long-term planning to address financial and economic challenges arising from regional tensions. The prime minister appreciated the coordinated efforts of all ministries and institutions and called for further improvement of collaboration.
He also expressed gratitude for maintaining the balance between supply and demand of essential goods in Pakistan despite the difficult conditions.
The meeting was attended by Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Energy Division Minister Sardar Owais Ahmed Khan Leghari, Information and Broadcasting Minister Attaullah Tarar, Climate Change Minister Musadik Malik, National Food Security Minister Rana Tanveer Hussain, Petroleum Minister Ali Pervaiz Malik, Economic Affairs Minister Ahad Khan Cheema, Special Assistant from Prime Minister Haroon Akhtar, State Bank Governor Jameel Ahmad and other senior officials.
Digital investment
Prime Minister Shehbaz Sharif on Wednesday reaffirmed his government’s commitment to facilitating foreign investment in Pakistan’s digital economy, while VEON Group CEO Kaan Terzioglu expressed interest in expanding operations in the country.
According to the Prime Minister’s Office (PMO) statement on
Prime Minister Shehbaz said Pakistan was pursuing a comprehensive strategy to boost international investment in information technology while ensuring transparency through digitalization of the economy.
“The government is taking practical steps, in coordination with all institutions, to facilitate international investors,” the prime minister said, adding that promoting a cashless economy through effective use of information technology remains a key priority.
The statement said that during the meeting, the prime minister noted that following the auction of the 5G spectrum, relevant institutions were working in coordination to ensure the provision of high-quality Internet services.
“He also underlined the role of Pakistan’s youth, saying their growing interest in IT and digital platforms made the country an attractive destination for global investors,” he added.
Terzioglu appreciated the government’s efforts to increase transparency and improve the investment climate and said Pakistan had moved “rapidly” towards achieving a digital economy and deploying 5G services.
He also praised initiatives aimed at promoting a cashless economy and expressed VEON’s intention to further increase investment in Pakistan.
The meeting was attended by Finance Minister Aurangzeb, IT Minister Shaza Fatima Khawaja, Economic Affairs Minister Ahad Khan Cheema, Jazz CEO Aamir Ibrahim and other senior officials.
Youth in focus
Prime Minister Shehbaz Sharif said the government was taking multiple measures to equip the youth with vocational skills and integrate them into the workforce, asserting that youth are the future of our nation.
According to a statement issued by the Prime Minister’s Office (PMO), while chairing a review meeting on measures to increase job opportunities for youth, Prime Minister Shehbaz expressed satisfaction and stated that the government was accelerating efforts to provide technical and vocational training to youth in line with contemporary demands.
“Prime Minister Shehbaz observed that the recent reforms in the National Vocational and Technical Training Commission (NAVTTC) have significantly improved the provision of technical education,” the statement said.
According to the PMO, during the meeting, the Prime Minister stated that the comprehensive training programs launched through NAVTTC were already yielding positive results, harnessing the potential of the youth workforce.
The statement also noted that while emphasizing the importance of preparing youth for international competition, the prime minister stressed the need for them to focus on obtaining international certifications along with vocational training in high-demand skills for the global market.
The statement further added that during the meeting, the officials briefed the prime minister on efforts to create employment opportunities both domestically and internationally.
The report noted that the Prime Minister’s Youth Program and the Ministry of Foreign Affairs had already identified multiple international employment opportunities for Pakistani youth and are working to expand them further.
“The PM Youth Hub has taken a central role in providing information on employment opportunities both domestically and internationally. Employment opportunities are available in IT, healthcare, construction, tourism, logistics and other sectors abroad,” the report added.
The statement also mentioned that the Higher Education Commission was tracking the employment of graduates from 282 universities across the country through a digital application, a system intended to inform future education policy.
According to the PMO, during the meeting, Chief Minister Shehbaz also informed that 32 institutions under the Federal Ministry of Education have introduced Matric-Tech, a vocational program for secondary level students. An Inter-Tech program for higher level technical training was also planned.
The review meeting was attended by federal ministers including Dr Musadik Malik, Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Chaudhry Salik Hussain, Dr Ahsan Iqbal, Shaza Fatima Khawaja and Minister of State Bilal Azhar Kiani, along with Chairman Prime Minister’s Youth Programme, Chairman HEC and senior officials of relevant institutions.
