ISLAMABAD: Prime Minister Shehbaz Sharif has promised that Pakistan will no longer depend on the International Monetary Fund (IMF) after the current loan deal. He made this announcement while speaking to the nation about his government’s first 100 days in office.
PM Shehbaz said that this IMF programme will be the last one for Pakistan. The country is currently in talks to get a loan of $6 billion to $8 billion to avoid economic collapse. He pointed out that some countries only needed the IMF’s help once and never again. “We have gone to the IMF 24 to 25 times. I promise that if we follow our plans and goals, this will be the last time,” he assured.
The Prime Minister also mentioned plans to shut down unnecessary government departments to save money. He targeted the Public Works Department (PWD), which he called corrupt and costly, costing around Rs2 billion annually. He claimed that half of its development funds, worth hundreds of billions of rupees, are lost to corruption.
He announced that a leading global company will digitize the Federal Board of Revenue (FBR) to improve efficiency and eliminate ineffective staff.
Reflecting on the government’s efforts, he said they have prevented an economic default and stabilized the economy. He credited this success to the support from the Pakistan Democratic Movement (PDM) alliance and leaders from the Pakistan Peoples Party (PPP).
“We have set a clear plan and will follow it strictly. We will spend every saved penny on public welfare and cut down on bureaucratic red tape,” he said.
The PM highlighted that inflation has dropped from 38% to 12%, and loan interest rates have decreased from 22% to 20.5%, which will boost investment and business activities. He acknowledged that recent fuel price cuts are a relief for the public but admitted that more needs to be done to tackle inflation.
Shehbaz Sharif announced a partnership with China to train 300,000 Pakistanis in IT and improve IT infrastructure across the country. He also emphasized the importance of reducing the gap between the rich and the poor and improving the education system by declaring an emergency in the education sector.
He condemned those who harm national development and stability, including terrorists, robbers, electricity thieves, profiteers, tax evaders, and corrupt officials. He promised to continue investing in public welfare, reduce inflation, and promote higher education and private sector investment to boost trade.
