ISLAMABAD: After completing 100 days of rule, Prime Minister Shehbaz Sharif on Saturday vowed to eliminate all loss-making institutions, ministries and departments to save taxpayers' money to bring the cash-strapped country on the path of economic prosperity. Announced.
“We have made a five-year plan and decided to close ministries that have been ruining the economy for years. The money saved will be used to repay our debts,” Sharif said in a televised address to the nation, his first address since assuming power following the controversial February 8 elections.
Sharif was sworn in on March 4 after forming an alliance with five other parties and dashing jailed former Prime Minister Imran Khan's chances of a political comeback.
He also said that it is his duty to eliminate these corrupt institutions and a committee has been set up for this purpose.Announcing that the government would save on expenses wherever possible and would not set up more industries or get involved in running them, Sharif said, "Instead, we will work with the private sector."
He warned that the road ahead is not only "long and difficult" and "demands sacrifices" from both government employees and the salaried class, but said his "government is committed to bringing about change."
Sharif claimed that after his government was sworn in, inflation dropped from 38 percent to 12 percent and interest rates on loans dropped to 20.5 percent from the previous 22 percent.
“In a few months, it will bear fruit, and I will present the results to you. This step alone will save lakhs of rupees. God willing, within a month and a half there will be positive results to share with all of you,” Sharif said.The Prime Minister also recalled his recent visit to China where "deals worth millions of dollars were made" and to the UAE "where millions of dollars were pledged."
He listed the achievements of the government over three months of governance, including 100 per cent digitization of the Federal Board of Revenue (FBR) to improve its efficiency.
Earlier in the day, the government had cut electricity prices and petrol rates. He said that to make industrial production competitive in the international market, electricity prices of industries have been reduced by more than Rs 10 per unit, resulting in a cumulative impact of Rs 200 billion on industries.
Sharif also expressed hope that Pakistan's current involvement with the International Monetary Fund would be its last and said, "Inshallah, we will stand on our feet and overtake our neighboring countries in economic activities.,
In his address, Sharif raised the issue of Kashmir as well as the situation in Gaza.
“We have made a five-year plan and decided to close ministries that have been ruining the economy for years. The money saved will be used to repay our debts,” Sharif said in a televised address to the nation, his first address since assuming power following the controversial February 8 elections.
Sharif was sworn in on March 4 after forming an alliance with five other parties and dashing jailed former Prime Minister Imran Khan's chances of a political comeback.
He also said that it is his duty to eliminate these corrupt institutions and a committee has been set up for this purpose.Announcing that the government would save on expenses wherever possible and would not set up more industries or get involved in running them, Sharif said, "Instead, we will work with the private sector."
He warned that the road ahead is not only "long and difficult" and "demands sacrifices" from both government employees and the salaried class, but said his "government is committed to bringing about change."
Sharif claimed that after his government was sworn in, inflation dropped from 38 percent to 12 percent and interest rates on loans dropped to 20.5 percent from the previous 22 percent.
“In a few months, it will bear fruit, and I will present the results to you. This step alone will save lakhs of rupees. God willing, within a month and a half there will be positive results to share with all of you,” Sharif said.The Prime Minister also recalled his recent visit to China where "deals worth millions of dollars were made" and to the UAE "where millions of dollars were pledged."
He listed the achievements of the government over three months of governance, including 100 per cent digitization of the Federal Board of Revenue (FBR) to improve its efficiency.
Earlier in the day, the government had cut electricity prices and petrol rates. He said that to make industrial production competitive in the international market, electricity prices of industries have been reduced by more than Rs 10 per unit, resulting in a cumulative impact of Rs 200 billion on industries.
Sharif also expressed hope that Pakistan's current involvement with the International Monetary Fund would be its last and said, "Inshallah, we will stand on our feet and overtake our neighboring countries in economic activities.,
In his address, Sharif raised the issue of Kashmir as well as the situation in Gaza.
