ISLAMABAD: Prime Minister Shehbaz Sharif stated on Wednesday that inflation has fallen sharply from 29.2% to 4.5% over the previous two years, crediting his authorities’s financial measures.
Addressing a ceremony in Islamabad concerning financial reforms, PM Shehbaz, whereas highlighting his authorities’s achievements, stated that Pakistan made actual, measurable progress in the course of the previous two years.
“Multiple million new taxpayers have been introduced into the tax web. Tax revenues rose by 26% in 2025,” the premier added.
Tax-to-GDP ratio has elevated from round 8% to over 10%, the PM stated, including that the long-delayed privatisation of the Pakistan Worldwide Airways (PIA) and the First Ladies Financial institution has been efficiently accomplished.
The premier additional stated that the present account has changed into a surplus of $1.9 billion from a deficit of $3.3 billion.
Overseas trade reserves have greater than doubled from 9.2 billion to $21.2 billion in the course of the previous two years, he added.
“Overseas establishments have additionally acknowledged our achievements,” the PM stated, including that the nation’s economic system, by the grace of Allah Almighty, is transferring in direction of progress.
Whereas addressing the ceremony, the premier recalled that when this authorities assumed workplace two years again, the economic system they had been inherited was confronting immense challenges.
He stated that internationally, Pakistan was sidelined and was not a part of the principle body of worldwide financial engagement.
“Economically, we had been struggling, inflation was round 30%, reserves had been dwindling, confidence had evaporated,” stated PM Shehbaz.
PM stated: “I knew that the challenges had been immense and the duty was troublesome, however not unattainable”
This was not the primary time that the PML-N authorities had been entrusted with pulling Pakistan again from the brink, he added.
The PM stated: “In 1997, we confronted financial sanctions and isolation. But we stabilised the economic system. And once we inherited crippling power shortages, terrorism and financial stagnation, however we introduced the nation again on observe.”
The premier stated that after they assumed workplace in 2024, they knew precisely the challenges mendacity forward for them.
“There was little question that restoring Pakistan’s economic system would demand laborious decisions, decisions that might not spare our personal political constituency and there could possibly be no shortcuts, no populism, no denial,” he added.
It was time for an financial campaign, he stated, including that they took very troublesome selections to drag Pakistan out of financial disaster and put it again on the trail of stability and gradual progress.
“We withdrew subsidies. We initiated long-delayed privatisation reforms and restored bodily self-discipline,” he added.
The PM stated: “At the moment the outcomes communicate for themselves.”
Addressing the occasion, Finance Minister Muhammad Aurangzeb stated that the federal government took a number of steps to stablise the economic system, scale back inflation and enhance funding within the nation.
“Inflation is at its lowest stage within the nation’s historical past,” the ministry stated, including that key financial indicators had been displaying enchancment.
Regardless of devastating floods in 2025, the federal government determined to not search help from worldwide monetary establishments.
The finance minister stated the federal government saved Rs600 billion to Rs700 billion by means of higher fiscal planning and mortgage administration.
He stated traders’ confidence had improved following financial reforms, including that 16 new IPOs are anticipated within the coming 12 months.
