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ISLAMABAD, Mar 4 (APP):Prime Minister Muhammad Shehbaz Sharif on Tuesday lauded the performance of his cabinet members during the last one year and urged them to continue contributing towards economic stability with their untiring efforts as all the economic indicators were showing positive trajectory.
Addressing a special meeting of the cabinet members at the Jinnah Convention Center to review the one-year performance of the government, the prime minister said that during the last one year, it was a matter of satisfaction, that neither a single case of corruption had surfaced nor a false single allegation in this regard was leveled by the opposition.
The prime minister said that they should have to work hard to provide succour to hapless and financially weaker segments of society with all kind of assistance and compassion especially in the holy month of Ramazan, adding that the government had rolled out Rs20 billion Ramazan package to benefit four million deserving families through digital wallets system.
Each family would get Rs5,000 each, thus the new system would shut doors on all kind of allegations of financial mismanagement which had badly marred the functioning of entities like Utility Stores Corporation, he said, terming the relief initiative as ‘quantum jump which will succeed’.
He said that they took the challenge of saving the country from running into default. With hard work, the government succeeded in achieving the economic turnaround and steering the country out of the financial straits.
For the first time in country’s history, meeting of the federal cabinet was witnessed by people from different section of society and mediapersons present in the Convention Center besides, it was telecast live by the national Tv channels.
The prime minister said all the macroeconomic indicators were on the high scale and asked the members to work hard with dedication and commitment as these were prerequisite for making Pakistan one trillion economy till the year 2035.
He also thanked leadership of all the coalition partners in the government including PPP, MQM, BAP, IPP etc, for their support in the most difficult times.
“We are the bearers of May 28 achievement and not of May 9,” he said, questioning that a political party who was running a provincial government had written letters to IMF pressing against any agreement with the government.
The prime minister highlighting government’s efforts towards economic stability, expressed the confidence that Rs400 billion tax cases pending for adjudication in various courts would be decided expeditiously as the one by Sindh High Court which provided relief to the government with Rs23 billion.
He underlined the need of plugging 850 billion rupees losses incurred by the loss-making state owned enterprises terming them as’ bottomless pits’ which needed to be plugged, besides the need to end circular debt in the power sector.
He expressed the optimism that with collective efforts, Pakistan would emerge stronger and stressed upon development of a culture of forgiveness, affection and tolerance in the society.
In collaboration with China, Pakistan would launch its first joint astronaut mission soon, he added.
He said the journey was dotted with challenges and difficulties but they would traverse the path towards progress and prosperity.
The prime minister reiterated Pakistan’s strong condemnation of Israel for closure of Gaza corridor for humanitarian assistance in the month of Ramazan and said that more than 50,000 Palestinians had been martyred in the Israeli aggression.
While the Kashmiri people in the Indian Illegally Occupied Jammu and Kashmir (IIOJK) were also facing worst kind of brutalities, he added.
The prime minister called upon the international community to raise their full voice for the people of Palestine, Gaza and IIOJK.
On the occasion, Minister for Planning Ahsan Iqbal and Minister for Information and Broadcasting Attaullah Tarar also presented a book to the prime minister about the government’s one year performance.
Expressing his views, Deputy Prime Minister/Foreign Minister Mohammad Ishaq Dar said when they looked back, during the tenure of Muhammad Nawaz Sharif, Pakistan’s economy was ranked 24th.
When they took reigns of the government, it was a big challenge due to prevailing economic conditions of the country but through a solid direction and economic policy implementation, Pakistan achieved the economic stability, he added.
The diplomatic isolation was over, Pakistan now became a member of the UNSC for the year 2025-26, he said, adding after a gap of 27 years, multilateral international conferences like SCO and girls education were held in Pakistan
The DPM/FM regretted that the terrorism reversal policy by the government of an opposition party in the past had seen return of the hardcore terrorists and expressed the confidence that through Azm-e-Istehkam, they would eliminate terrorism from the country.
Dar further said that over $20 billion investment by the Kingdom of Saudi Arabia, UAE, Azerbaijan and other countries in
Pakistan would strengthen the country’s economy.
He also highlighted the risks posed by climate change to Pakistan.
Minister for Finance Muhammad Aurangzeb, presenting an overview of the economy, said that Pakistan Stock Exchange had witnessed an increase of 71 percent return while the current account surplus was the highest in the last 20 years.
He apprised that the plans for rightsizing of 43 ministries and their 400 attached departments were afoot, whereas pension reforms and agriculture tax were introduced for the first time.
FBR revenue had surged by 26 percent. The other major steps were the introduction of faceless assessment system which saw revenues up by 60 percent in shortest time, he added.
Aurangzeb said all the international monetary institutions had lauded economic achievements of the incumbent government in Pakistan.
Minister for Power Awais Ahmed Leghari briefed the meeting about the comprehensive reforms, saying that these efforts had resulted in reduction of Rs151 billion industrial cross subsidy. Till February 25, price of per unit had been reduced to Rs4.96 benefitting the consumers and industry alike.
Besides, performance of 104 IPPS was evaluated after which agreements with 14 were reviewed, 5 inefficient IPPs were terminated and agreements for eight bagasse plants had been reached, he added.
These steps resulted in 1,333 billion lifetime savings, he added.
The minister further said that from Bijli Sahulat Package, industries and the consumers were taking maximum benefits, besides a plan was devised to get rid from the circular debt.
He also highlighted the progress on solarization of tubewells in Balochistan province, adding that out of 27,000 tube wells, 4,000 had been converted to solar thus the project would save about Rs100 million losses to power sector in the province.
Minister of State for IT Shaza Fatima Khawaja also presented a report about the performance of her ministry saying that 15 million new broadband subscribers were added while telecom sector was contributing Rs341 billion to the national economy. Revenues had increased to Rs955 billion, she added.
Speaking on the occasion, Minister for Defence Khawaja Muhammad Asif said the last one year of the government was like a journey to rise from the ashes.
He said an opposition party who had enjoyed power in the past, had policies which did not synch with the national interests.
The same party was out to create chaos in the country and inviting foreigners to interfere into the internal matters of the country, he added.
Khawaja Asif said their government had provided a hope to the people and said that they would overcome all the challenges.
Minister for Planning Ahsan Iqbal expressed the confidence that with continuation of Uraan Pakistan, they would achieve the roadmap with five corridors of growth under the guidance of the prime minister.
Attorney General for Pakistan Mansoor Usman Awan also spoke on the occasion and lauded prime minister’s guidance over legislation issues.
Reports were also presented about performance of the interior ministry, curbing of smuggling, Green Pakistan Initiative and SIFC contributing towards agriculture and livestock sectors of the country.