Prime Minister Shehbaz Sharif acknowledged the high tax burden on the companies and expressed his willingness to reduce the tax by 15% immediately if it was given the opportunity. However, he emphasized that the right time for such a measure is coming.

When he spoke at the federal government’s event, which marked the “Construction and Development Day” in Islamabad, Prime Minister Pakistan’s journey highlighted in the past year and said the country has moved from dark to light. “This progress is not the achievement of an individual, but the result of collective efforts,” he said.

He remembered a critical moment in June 2023 and mentioned a conference in Paris, where Pakistan’s IMF program faced uncertainty due to strict conditions. “Inflation was on a constant time, and ordinary citizens carried the head of financial difficulty. I greet them for their resilience because without their victims we would not be where we are today,” he noted.

He shared further details of his meeting with the IMF Managing Director, who originally stated that it was unlikely that it was unlikely to secure further financial assistance. However, after discussing the issue with the Islamic Development Bank, Pakistan was able to secure an obligation of $ 1 billion through rapid budget changes.

The Prime Minister assured business that future policies would be formulated in consultation with them. “We have made tough decisions to stabilize the country, and within a year Pakistan has begun to move on to economic recovery,” he claimed.

With reference to the September agreement with the IMF for a $ 7 billion loan, he credited teamwork to prevent Pakistan from defaulting. While abandoning direct criticism of the previous government, he recognized the serious economic downturn and said inflation had risen to 40%and investors had a little significant.

When he highlighted the effect of inflation on the ordinary people, he noted that the employees contributed with Rs. 300 billion in taxes. He also mentioned successful measures to slow down smuggling from Afghanistan and exports of $ 211 million sugar this year.

With regard to national certainty, he regretted the resurgence of terrorism and said, “In 2018, terrorism had been eradicated, but unfortunately it has returned. We have to ask why this has happened.”

Prime Minister Shehbaz Sharif’s address emphasized the government’s obligation to economic recovery, financial discipline and national security and promised a brighter future for Pakistan.j