Prime Minister Shehbaz Sharif said Wednesday that concerns about the International Monetary Fund (IMF) that reject Pakistan’s proposal to reduce electricity prices now have put themselves to rest.
Speaking at a federal cabinet meeting, the prime minister said that the IMF managing director, Kristalina Georgieva, indicated that the global lender is open to review the Pakistan power rate reduction plan if it is formally presented.
Shehbaz Sharif said that during his visit to Dubai, he discussed the economic and investment issues with the president of the EAU, Sheikh Mohamed Bin Zayed al Nahyan, with the general of the Syed Army also Munir also attending.
In addition, the Prime Minister complied with the IMF managing director and raised concerns about high production costs that affect industrial growth. “We told the IMF that economic growth is only possible if production costs decrease,” said Shehbaz, added that the lender’s response was positive.
In addition, he declared that the IMF has appreciated the government’s performance by implementing economic reforms and, in recognition of these efforts, made the cabinet applaud the team’s achievements during the meeting.
By discussing foreign relations, Shehbaz reaffirmed Pakistan’s commitment to Saudi Arabia, calling the kingdom a “fraternal trusted nation.” He assured that Pakistan would always support Saudi sovereignty and security.
Touching the humanitarian crisis in Gaza, the prime minister reiterated Pakistan’s position at the Dubai summit, highlighting that more than 50,000 Palestinians have been killed. “This is the genocide at its worst,” he said, expressing hope of peace in the region.
Shehbaz also pointed out an increase in remittances, attributing it to the confidence of Pakistani abroad in the government. He averaged more measures to facilitate expatriates.
In the recent tragedy of Libya, where several Pakistani lost their lives while trying an illegal migration, the prime minister asked for a more strict action against human trafficking, urging the authorities to put an end to the “black market” that endangers lives .
