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Sunday 2nd October 2022 / 6 Rabiulawal 1444

PM Shehbaz seeks proposals from economic experts on financial stability

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday held a meeting with economic experts and issued directives for formulating financial proposals on an emergency basis to address the current economic situation in the country.

The proposals will be devised in line with the consultation with stakeholders in areas including agriculture, trade, investment, and banking. A summit will be held in the next few days to discuss the suggestions of the economic experts. The prime minister also decided to form National Economic Advisory Council to be comprised of independent financial experts.

In view of the challenging economic situation, he directed formulating medium and long-term fiscal policies and also stressed the presentation of comprehensive policy options to overcome inflation.

Shehbaz Sharif emphasized a reduction in prices of daily-use commodities and essential items, particularly during the month of Ramazan. He stressed the need for maintaining a balance between the national and public interests.

The Finance Secretary gave a briefing to the prime minister on the economic situation, revenues, budget deficit, and loans besides the overall national balance sheet.

Schedule changed

Earlier in the day, the prime minister arrived at the Prime Minister’s House where he was presented with a guard of honour. The contingents of the armed forces presented a salute to him and he was introduced to PM House officials and staff.

Shehbaz assumed his responsibilities at the Prime Minister’s Office at 8 AM and said he did not want to waste time without serving the masses,. He termed diligence, honesty, and transparency as his guiding principles and said serving the people of Pakistan was his topmost priority.

During an interaction with his staff, the prime minister directed the officials to get into action for robust performance. He ordered a single weekly off for public departments instead of the earlier two days. Also, public offices would from now onwards open at 8 AM.

PM Shehbaz issued directives to ensure relief for the masses, including the provision of low-cost edible items at Sasta bazaars. He said he would not tolerate any irresponsibility in ensuring the provision of inexpensive commodities to the general public.

The premier also ordered the officials concerned to ensure early implementation of his decisions announced in the National Assembly regarding the 10 per cent increase in pensions and fixing the minimum wages at Rs 25,000.

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