Prime Minister Shehbaz Sharif expressed satisfaction as the inflation rate fell to 4.1%, the lowest in 81 months, according to national media.
According to a report by ARY News on Thursday, in a statement from the Prime Minister’s Office, he emphasized that while achieving macroeconomic stability was an important milestone, it was just the beginning.
He noted the significant decline in inflation to 4.1% in December 2024 as a positive sign, also highlighting the launch of the “Uraan Pakistan—Pakistan’s Takeoff” project, aimed at positioning the country among the world’s leading nations.
“The government is implementing economic reforms. The current account has achieved a surplus for the first time in 24 years. Inflation has dropped from 38% to 4.1%, and the stock market is now the second-best in the world,” stated PM Shehbaz Sharif.
He added that the policy rate had decreased from 22% to 13%, reflecting the government’s dedication to stabilizing the economy.
“We recognize the difficulties faced by the people, and we have worked tirelessly to address their issues. InshAllah, the lives of the people will continue to improve,” he said.
Earlier, the Prime Minister launched the URAAN Pakistan Program, calling it a pivotal step toward the country’s progress and economic stability.
URAAN Pakistan is a transformative initiative aimed at advancing key projects and reforms outlined in the 5Es National Economic Transformation Plan, focusing on revitalizing Pakistan’s economy and fostering inclusive growth.
During his address, PM Shehbaz Sharif acknowledged the government’s success in achieving economic stability despite unprecedented challenges. He stressed the importance of unity and solidarity to move Pakistan forward.
He further mentioned that in 2023, efforts to secure an IMF program were intense, and Pakistan was on the brink of default. The coalition government made the joint decision to prioritize national interest over political concerns. He emphasized that the government was committed to protecting the state and its interests at any cost.
The Prime Minister described the IMF deal as both a blessing and the result of the public’s prayers and sacrifices, highlighting the government’s proactive efforts to negotiate with the IMF despite the challenges ahead.
