- Gives credit to PDM’s top leaders, including JUI-F chief for saving country from default
- Says interest rate slashed to 20.5% from previous 22%, POL prices cut as a ‘relief’ to inflation-hit masses
- Notes power tariff for industry reduced that will reduce burden of Rs200b on the sector
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday vowed to abolish all institutions, ministries and departments that have become a burden on the exchequer, saying that this move alone will save tax payers’ billions of rupees and put the country on the path of prosperity.
“The abolition of all ministries and department which, instead of serving [nation], have become a burden on the masses is indispensable,” the premier stated while addressing the nation on Saturday.
“When we came to power, the economic conditions at that time were evident to everyone, and we saved the country from default,” the premier said.
The PM gave credit to the last Pakistan Democratic Movement (PDM) alliance and the top leaders of Pakistan People’s Party (PPP) including President Asif Ali Zardari, Bilawal Bhutto Zardari, and JUI-F Chief Maulana Fazlur Rehman for pulling the country out of difficult economic situation.
Appreciating his government’s prudent economic policies, PM Shehbaz said the country was now moving on a path to progress after coming out of economic difficulties.
“However, this way is not only difficult and long but also requires sacrifice from higher-ups in the government and the elite. The entire nation’s eyes are set on the government to see how it steers Pakistan out of the economic crisis and brings about a revolution of prosperity in the country,” he added.
PM Shehbaz said that since he retook the reins of the country with the help of people’s support in form of votes and trust, inflation had dropped to 12% from 38% as a result of the government’s policies.
Similarly, he said, that the interest rate on loans had been slashed to 20.5% from previous 22%.
“This would promote investment and the country would walk down the path of prosperity at a greater pace,” PM Shehbaz said.
PM Shehbaz then referred to the latest petrol and diesel price cuts as a “relief” to the inflation-hit masses.
He, however, admitted that these steps were still not enough amid “storm of inflation” during the last four years that “broke the backbone” of poor class.
PM Shehbaz promised the nation to take further measures to keep providing relief to them and bringing down the inflation, expand investments and provide opportunities of higher education to the youngsters.
PM Shehbaz said that he promises that the dream of Quaid-e-Azam Mohammad Ali Jinnah and those who laid sacrifices in the making of this country will come true if the entire nation unites on this point that we have to end our personal hatred and ego and rise above the personal interest to serve the poor and destitute.
“We are not only serious about making Quaid’s dream true but also assure the nation that no difficulty would be an obstacle in our way if we work hard and keep the sentiment of sacrifice and selflessness alive,” he added.
The prime minister said: “Lamenting the past serves no purpose; instead, we must learn from it to reclaim Pakistan’s lost glory.” He emphasised the commitment to realising the vision of Quaid-e-Azam, saying that with a spirit of sacrifice and dedication, “no one can impede our progress.”
‘RECENT TRIPS TO MIDDLE EAST AND CHINA’
Mentioning his recent trips to the Middle East and China, he said commitments for investment were secured and the government had devised a road map to benefit from and implement the agreements.
The premier said the environment also needed to be made conducive for domestic investment before any foreign investment.
The prime minister vowed that once the nation strictly followed through on a likely upcoming programme with the International Monetary Fund and the government achieved its targets, then the upcoming programme would hopefully be the last one in the country’s history.
“We will then stand on our own feet and leave our neighbours behind in the race towards progress.”
PM Shehbaz said 300,000 Pakistani students would be trained by China in information technology every year and the sector would be further promoted in the country.
Explaining the decision to make the industrial and export sectors competitive, he said electricity prices were reduced for the sectors in a “historic step and quantum jump” that will reduce the burden of Rs200 billion on them.
He said another testament to the government’s recently unveiled federal budget was the rise in the Pakistan Stock Exchange to 77,000 points, an all-time high. “This means business and trader groups have endorsed the budget,” he added.
PM Shehbaz said the government had decided to further promote the agriculture sector and “establish new records” for IT exports.
The prime minister said it would not be an “easy path” and recounted the past, saying that whenever the country was progressing forward, setbacks occurred to derail the momentum.
He said the enemy of the country’s progress was “every terrorist who spreads chaos and is busy in running off investment from the country”, along with smugglers, power utility thieves, profiteers, hoarders, tax thieves, inefficient state departments, lazy state employees, those who abused martyrs and those who spread political instability.
