Information Minister Attaullah Tarar declared on Monday that Pakistan was on the path to progress under the leadership of Prime Minister Shehbaz Sharif. He highlighted the government’s achievements while sharply criticizing the opposition party, Pakistan Tehreek-e-Insaf (PTI), for what he described as "politics of chaos and economic sabotage."
Shehbaz Sharif’s One Year in Office: A Remarkable Turnaround?
Shehbaz Sharif took office on March 4, 2024, following the February 8 general elections, inheriting a fragile economy and a deeply polarized political landscape. However, Minister Tarar asserted that within a year, the government had successfully reversed the downward economic spiral and set Pakistan on a path to recovery.
“The challenges seemed insurmountable a year ago, but through sheer determination and visionary leadership, the government has achieved remarkable economic progress,” Tarar said during a press conference.
Key Economic Achievements Under PML-N Government
The minister emphasized that the economy had shown substantial improvement across multiple key indicators. He attributed the positive shift to strategic reforms and tough decisions made in the national interest.
Among the major achievements he cited:
Inflation Control: Inflation, which was at a staggering 23.1% last year, has now dropped to just 1.5%.
Interest Rate Reduction: The State Bank of Pakistan reduced the interest rate to 12% to facilitate investment and economic growth.
Stock Market Boom: The Pakistan Stock Exchange (PSX) consistently broke records, reflecting investor confidence.
Trade and IT Sector Growth: IT exports surged by 32%, contributing to foreign exchange reserves, while overall exports showed a steady increase.
Fiscal Improvements: The current account deficit transitioned into a surplus, signaling a strengthened economic position.
Government’s Commitment to Reforms and Stability
Tarar stressed that the government had prioritized long-term economic stability over short-term political gains. “We took bold, difficult decisions for the sake of national interest rather than political convenience,” he stated.
He further added that Prime Minister Shehbaz Sharif would present a detailed report on each ministry’s performance today, providing transparency on governance and policy execution.
PTI Accused of Undermining Economic Stability
While praising the government’s achievements, Tarar did not hold back in his criticism of the PTI. He accused the opposition of deliberately attempting to destabilize the country, even going as far as writing to the International Monetary Fund (IMF) to disrupt Pakistan’s bailout program.
“The PTI engaged in economic sabotage, aiming to push the country towards financial instability for political mileage,” he remarked.
He also blamed the previous PTI-led government for Pakistan’s economic troubles, citing mismanagement, unsustainable policies, and corruption as major factors that weakened financial institutions and investor confidence.
Future Outlook: What’s Next for Pakistan?
Minister Tarar assured that the government remains committed to economic growth, stability, and national development. He hinted at upcoming reforms aimed at further reducing inflation, increasing foreign direct investment (FDI), and strengthening the rupee against the dollar.
“The worst is behind us. With continued hard work, Pakistan will see sustained economic growth and prosperity in the coming years,” he stated confidently.
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