Prime Minister Shehbaz Sharif reaffirmed his government’s commitment to delivering a comprehensive economic turnaround by undertaking long-overdue structural reforms, digitization, and a firm shift towards merit-based governance.
Speaking to a group of Pakistani students enrolled in top global universities under the Uraan Pakistan Summer Scholars Internship Programme, the prime minister recalled that when his government assumed office in 2023, Pakistan was teetering on the brink of default, with widespread fears of economic collapse.
“Most believed Pakistan would default — only a few hoped we’d survive. But I assured the IMF leadership we would honour our commitments and stabilize the economy,” he stated.
At that time, inflation had peaked at 38%, and the policy rate stood at 22.5%, casting a shadow over the business environment. The prime minister said that collective efforts and determination helped change this trajectory, with the policy rate now reduced to below 11%, a sign of growing macroeconomic stability.
Structural Reforms and Anti-Corruption Drive
Calling the path forward “challenging but necessary,” PM Sharif emphasized the need for deep-rooted structural changes that have been delayed for decades. He cited the Federal Board of Revenue (FBR) as a key example, where the government launched a digital transformation and removed corrupt officials without yielding to political pressure or favoritism.
“Corruption will not be tolerated. We took bold steps and made appointments on merit, including in the FBR,” he asserted.
The prime minister said that digitization within FBR — once limited to paperwork — is now being operationalized through artificial intelligence, automation, and faceless systems, resulting in better transparency and efficiency.
As evidence of this success, he pointed out that in one revenue sector alone, collections rose from Rs12 billion to over Rs50 billion in a year, revealing the scale of previous tax evasion.
“Performance is the Name of the Game”
Reiterating his belief in teamwork and accountability, the prime minister said he doesn’t seek personal credit for achievements but instead rewards those who deliver and replaces those who don’t.
“This journey is not easy; obstacles remain. But we will not back away from our responsibility to the nation,” he vowed.
He acknowledged the tough nature of economic reform but stressed that the government must meet its targets or be held accountable. “We have to face the consequences if we fail,” he added.
Youth as the Key to National Success
Underscoring the importance of the country’s young population, the premier said the future of Pakistan rests with its youth, and any investment made in them is an investment in the nation’s prosperity.
In response to student questions, he reflected on past initiatives during his tenure as Punjab chief minister, including scholarships for underprivileged students in remote areas, and reaffirmed his belief in education as a tool for empowerment.
On Climate and Regional Security
Responding to a question on climate change, PM Sharif recalled the devastation caused by the 2022 floods, which inflicted $30 billion in economic damage, despite Pakistan’s negligible contribution to global emissions.
He also addressed recent tensions with India, referring to the May conflict triggered by the Pahalgam incident. He said he had proposed an international investigation, but India did not respond.
“Following India’s unprovoked aggression, 55 Pakistanis were martyred. In self-defence, we shot down six Indian aircraft on May 9 and 10,” he noted, praising the armed forces for their professionalism and courage.
He reiterated that Pakistan’s nuclear programme is defensive and peaceful in nature.
Looking Ahead
The prime minister expressed hope that the students benefiting from Uraan Pakistan would return with new ideas and contribute to the country’s progress. He extended his best wishes to them, stating,
“You are the future — and our best investment is in you.”
