Prime Minister Shehbaz Sharif digitally launches PSDP data portal in Islamabad. Photo: APP
ISLAMABAD:
Prime Minister Shehbaz Sharif, stressing the importance of whole of government approach to tackle pending economic challenges, on Wednesday urged all stakeholders to move forward on the path of economic growth with collective efforts.
Addressing the inaugural session of ‘Pakistan Governance Forum 2026’, the Prime Minister lamented that the country was enduring power theft of Rs.200 billion and only a whole-of-government approach could solve this problem.
Emphasizing the need for collective efforts in the economic sector, the prime minister said, “Though the journey may be long, arduous and difficult, but we have accepted the challenge. Pakistan will soon take its rightful place.”
The Prime Minister further reiterated that it was not the government’s job to run business, but to facilitate the private sector, exporters and investors and support their efforts for productivity and growth.
The government was encouraging exporters, investors and businessmen with various incentives, he added.
He said that the country was blessed with immense resources and expressed confidence that with joint efforts and strong will, Pakistan would leave behind various countries in terms of economic strength within few years.
The prime minister also emphasized the need to increase tax net, saying currently due to various initiatives, the country’s tax to GDP had reached 10.5 percent.
He highlighted the importance of growth and production, exports and investments, foreign direct investment and overall reduction of indirect taxes in the upcoming fiscal budget.
The Prime Minister lamented that indirect taxes from consumers and end users were not deposited with the government, which was a great injustice to the nation.
He said the increase in taxes was also achieved in the sugar, cement and tobacco sectors.
The IT sector had seen a growth of 34 percent but it had more potential and emphasized using youth bulge and said they should be given technical and professional expertise and training because the IT, AI led initiatives would transform all other sectors in the country.
He also appreciated the minister for planning for Uraan Pakistan and the entire system of government which would prove to be successful.
Minister for Planning, Development and Special Initiatives Ahsan Iqbal in his speech said the forum was designed to arrive at actionable solutions after holding debates and exchanging perspectives for the future economic progress.
He said that a system of good governance was shaped by setting goals and the efforts to achieve these, adding that good governance should be merit-based, transparent and citizen-focused.
The minister said that Uraan Pakistan was launched with the same objective which would serve as a transitional role for the country’s economy.
He said for the past two years, the incumbent government had brought the country back from the brink of bankruptcy.
Ahsan Iqbal said the transformative path if adopted with full capacity and given positive synergy would be $1 trillion economy by 2035.
