Prime Minister Shehbaz Sharif said on Monday that the reforms in maritime and energy sectors would increase trade, reduce costs and unlock Pakistan’s financial potential.

The Prime Minister made these comments while chaired a high -level meeting to review progress with the government’s extensive reforms in the maritime sector. He emphasized that extensive efforts were underway to transform the country’s port infrastructure, streamline customs operations and strengthen the country’s maritime economy for long -term national benefit.

He paid tribute to the Task Force on maritime reforms for its diligent work and praised their efforts to prepare a comprehensive set of recommendations aimed at ending decades long stagnation in the sector.

“Pakistan has been blessed with a long coastline and huge maritime resources. With the right reforms, we can unlock the huge economic potential and bring our ports to global competitive standards,” Prime Minister Shehbaz said.

He noted that reduction in electricity stariff of almost RS7.5 per year. Unit was a direct result of the focused work in a dedicated task force on reforms in the energy sector.

The Prime Minister emphasized that the same result -driven model was now used for the maritime sector.

“This reduction of electricity stariff is a great relief not only for households, but also for all sectors such as agriculture, trade, trade and industry. It will reduce production costs, improve local manufacture, create employment and improve exports,” he said.

The Prime Minister noted that structural reforms remained central to the government’s economic strategy, which had already stabilized Pakistan’s macroeconomic indicators.

He also highlighted the possibility of the recent decline in global oil prices and assured that the government was working to exploit its long -term benefits for Pakistan’s economy.

The meeting reviewed a detailed presentation on the roadmap for reforms of the sector’s sector.

The participants at the meeting were informed of the introduction of Pakistan Maritime Port Act, unifying rules in all ports, the establishment of a national excavation plan, including the formation of a national excavation company to serve ports across the country.

The forum also discussed modernization of Pakistan National Shipping Corporation (PNSC) with a 25-year rehabilitation plan and the inclusion of the private sector through public-private partnerships. It was informed that the disposal of the disposal of hazardous waste in Gadani was created to handle chemical and industrial waste.