Prime Minister Shehbaz Sharif on Wednesday mentioned that the one clear approach ahead for Pakistan’s economic system is to make sure export-led progress.
Talking on a panel in Davos, Switzerland, the PM mentioned Pakistan “is transferring ahead with a way of feat and a way of function”, noting a drop within the inflation charge and a discount within the coverage charge from 22.5 p.c to 10.5 p.c.
Nonetheless, he famous that exports had been going through challenges and that social indicators “have to be improved via steady joint efforts”.
“Our exports, collectively, do face totally different sorts of challenges,” the PM famous. “However the best way ahead may be very clear: Pakistan has to have export-led progress.”
The PM mentioned that the federal government introduced in “basic structural adjustments” to the system, equivalent to digitalising income assortment. He said that the tax collection-to-GDP ratio stands at 10.5pc, in comparison with 9pc two years in the past, hailing it as a “important achievement”.
“We at the moment are within the mines and minerals enterprise in a giant approach,” PM Shehbaz added, citing agreements and memoranda of understanding with American and Chinese language corporations.
“Pakistan has been blessed by Allah Almighty with infinite pure sources nonetheless buried within the heap of mountains within the north of Pakistan, in Gilgit-Baltistan, Azad Jammu and Kashmir, the province of KP (Khyber Pakhtunkhwa) and Balochistan,” he mentioned.
“We now have now determined to go ahead at lightning pace.”
He added that Pakistan is “transferring shortly” within the fields of cryptocurrency, synthetic intelligence and knowledge know-how.
“Our IT exports have proven exceptional progress in the previous few years, in that we introduced numerous devices which have facilitated IT exports, which stand at $3bn yearly, formally,” the PM outlined.
When it comes to the youth, PM Shehbaz mentioned that the federal and provincial governments enacted many applications to empower the youth via vocational coaching, including that they’re vetted by third-party audits and internationally licensed.
“Because of this, our youth [are] preparing, productive employment in Gulf states and different components of the world, as a result of they’re extremely certified and extremely skilled,” he emphasised.
PM Shehbaz then touched on bettering relations with america, expressing hope that Islamabad and Washington would “cooperate with one another in a giant approach” within the fields of mines and minerals, counter-terrorism, IT and AI.
“I believe Pakistan is at a cut-off date the place we’re going to take off quickly in agriculture, trade, the mining trade, AI and IT,” the prime minister mentioned. “I believe that future may be very promising, I’ve little doubt about it.”
IMF’s Georgieva acknowledges Pakistan’s financial reform efforts
PM Shehbaz additionally met Worldwide Financial Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the World Financial Discussion board (WEF) in Davos.
In response to the Prime Minister’s Workplace (PMO), PM Shehbaz briefed Georgieva on the development in Pakistan’s macroeconomic indicators, stabilization efforts and progress on institutional reforms.
He careworn Pakistan’s dedication to fiscal self-discipline, income mobilization and sustainable improvement, the assertion mentioned.
The IMF official acknowledged and appreciated Pakistan’s reform efforts, the assertion mentioned. She careworn the significance of sustaining the momentum of reforms to make sure long-term financial resilience, she added.
The 2 sides mentioned the worldwide financial outlook, challenges confronted by rising economies and the significance of multilateral cooperation in safeguarding financial stability, he added.
Earlier, PM Shehbaz had additionally met Palestinian Prime Minister Mohammad Mustafa on the sidelines of the World Financial Discussion board in Davos.
In response to the PMO, Mustafa expressed his heartfelt gratitude to PM Shehbaz for “Pakistan’s constant, principled and unwavering help for the Palestinian individuals”.
“Mustafa personally walked as much as PM Shehbaz and launched himself,” the assertion mentioned.
“The Palestinian prime minister thanked Pakistan for supporting the Palestinian stance at worldwide boards and for its position relating to the Palestinian trigger,” it added.
The premier is on a three-day go to to the Swiss city (from January 20-22), primarily to steer a high-level delegation from Pakistan, together with Deputy Prime Minister and International Minister Ishaq Dar.
The premier arrived in Davos on Tuesday. In a publish on X, PM Shehbaz wrote that he was visiting Davos to advance Pakistan’s engagement on the WEF with world commerce and funding companions.
“Pakistan’s ongoing financial reform journey is unlocking profound alternatives, pushed by a resilient and entrepreneurial workforce and important potential throughout power, agriculture, minerals, and rising applied sciences,” PM Shehbaz mentioned.
He added that Pakistan was “able to harness this potential into mutually useful financial cooperation and long-term funding”.
Dar’s engagements
In the meantime, Deputy Prime Minister and International Minister Ishaq Dar inaugurated the Pathfinder Group’s Pakistan Pavilion on the sidelines of the WEF Annual Assembly in Davos, in accordance with a publish by the International Workplace on X.
The international minister praised the initiative to showcase Pakistan’s huge financial potential and rising alternatives on a worldwide platform, whereas highlighting the dynamism and innovation of the nation’s start-ups.
He underlined the crucial position of start-ups in advancing socio-economic improvement and driving innovation throughout various sectors.
FM Dar reaffirmed the federal government’s dedication to facilitating and selling entrepreneurs and start-ups, notably these led by youth, to completely notice the financial potential.
In one other publish on X by the FO, the international minister met his Canadian counterpart Anita Anand on the sidelines of the WEF 2026 assembly.
The 2 international ministers “agreed to discover methods to boost Pakistan-Canada ties” and “mentioned to upscale and strengthen financial and commerce relations”, the social media publish mentioned.
