PM Shehbaz Sharif digitally launches the PSDP Data Portal in Islamabad. Photo: APP
ISLAMABAD:
Prime Minister Shehbaz Sharif, underlining the significance of the whole of the government’s approach to tackling pending economic challenges, on Wednesday urged all stakeholders to move ahead on the path of economic growth with collective endeavours.
Addressing the inaugural session of ‘Pakistan Governance Forum 2026’, the prime minister regretted that the country was enduring Rs200 billion power theft and only the whole of the government approach could tackle this issue.
Emphasising the need of collective efforts in the economic sector, the prime minister said “Though the journey can be a long, arduous and thorny one, but we have accepted the challenge. Pakistan will carve its due place soon.”
The prime minister further reiterated that it was not the job of the government to do businesses rather it had to facilitate the private sectors, exporters and investors and support their efforts in the productivity and growth.
The government was encouraging the exporters, investors and businessmen with diverse incentives, he added.
He said the country was blessed with immense resources and expressed the confidence that with joint efforts and strong will within few years, Pakistan would leave behind different countries in terms of economic strength.
The prime minister also underlined the need to enhance tax net and said currently due to different initiatives, the country’s tax to GDP had reached to 10.5 percent.
He highlighted the importance of growth and production, exports and investment, FDI and across the board reduction in indirect taxes in the upcoming fiscal budget.
The prime minister regretted that indirect taxes taken from the consumers and end users were not being deposited with the government which was a huge injustice with the nation.
He said the surge in taxes was also achieved in sugar, cement, and tobacco sector.
The IT sector had witnessed 34 percent growth but it had more potential and stressed upon utilizing youth bulge, saying they should be imparted technical and vocational expertise and training because the IT, AI led initiatives would transform all other sectors of the country.
He also appreciated the minister for planning for the Uraan Pakistan and the whole of the government system which would prove successful.
Minister for Planning, Development and Special Initiatives Ahsan Iqbal, in his address, said that the forum was designed to reach to actionable solutions after holding debates and sharing perspectives for the future economic progress.
He said a good governance system was shaped by setting targets and the efforts for their achievement, adding the good governance should be merit based, transparent and citizens focused.
The minister said Uraan Pakistan was launched with the same objective which would serve as a transitional role for the country’s economy.
He said in the last two years, the incumbent government had brought back the country from the brink of bankruptcy.
Ahsan Iqbal said the transformational path, if adopted with full capacity and given a positive synergy, Pakistan would be $1 trillion economy by 2035.
