NEW YORK, Sep 27 (APP): Prime Minister Shehbaz Sharif on Friday said that Pakistan’s economy had shown significant signs of recovery, with inflation dropped to a single digit due to the government’s tough but necessary actions.
“We have taken difficult but necessary decisions that have rescued our economy from collapse; restored macroeconomic stability; controlled fiscal deficits; strengthened our reserves. As a result, inflation has come to a single digit,” the prime minister said in his address to the United Nations General Assembly (pm at).
He emphasized that since assuming his office in March this year, the progress and prosperity of the country’s 240 million people had been his singular focus.
Owing to the fact that Pakistan was situated at the crossroads of South and Central Asia, and the Middle East, it had prioritized geo-economics and regional connectivity to secure win-win outcomes for the people, he added.
As regards progress on the landmark China-Pakistan Economic Corridor (CPEC), PM Shehbaz said that its second phase had been successfully launched.
Through the Special Investment Facilitation Council (SIFC), “we are mobilizing investments in resilient infrastructure, renewable energy, minerals, sustainable agriculture and technology. This will herald a new era of development and modernization,” he added.