Prime Minister Shehbaz Sharif announced that discussions with the International Monetary Fund (IMF) regarding the upcoming federal budget had been productive, setting the stage for a new phase of economic development in Pakistan.
In a meeting with journalists, Sharif confirmed that the government had successfully stabilized the economy and was now shifting its focus toward long-term growth.Â
“We have achieved economic stability; now we must embark on the journey of economic development,” he remarked, while also emphasising that no corruption cases had surfaced during his administration’s tenure under the Pakistan Muslim League-Nawaz (PML-N).
Sharif’s comments come amidst ongoing debates between the government and the IMF over key fiscal policies. While the IMF has raised concerns over certain budget targets and subsidies, the prime minister expressed optimism that the final budget would balance economic stabilization with targeted relief measures.Â
The upcoming budget, which will be presented by Finance Minister Muhammad Aurangzeb on June 10, had originally been scheduled for June 2 but was delayed due to extended negotiations with the IMF over tax relief and other fiscal issues.
Regarding internal reforms, Sharif emphasized the government’s commitment to instituting long-term reforms within national institutions, with the goal of transforming Pakistan into a competitive and stable economy. The Prime Minister concluded by underscoring the importance of sustainable reforms for the country’s future.
The revised federal budget, heavily influenced by IMF guidelines, will also feature significant cuts in the Public Sector Development Programme (PSDP), with development spending now pegged at Rs1.096 trillion, down from an initial Rs1.4 trillion.
Turning to foreign policy, Sharif also signaled his willingness to engage in dialogue with India, proposing talks on critical issues such as Kashmir, water disputes, trade, and counterterrorism efforts. He asserted that Pakistan was ready to hold talks anywhere in the world, responding to recent comments by Indian Prime Minister Narendra Modi, which Sharif attributed to domestic political pressures.
Sharif also made a bold claim about Pakistan’s military capabilities, stating, “We have taken our revenge for 1971 from India,” referencing the downing of six Indian aircraft, including four Rafale fighter jets.
