PM Shahbaz’s Economic Reforms Attract Global Attention

Delegates of global financial firm Rothschild and Co called on PM Shahbaz in Islamabad. Shehbaz Sharif is taking immediate steps and putting efforts into the economy to bring it on track. When the PM took charge the current account deficit dropped to %0.2 billion in January 2023, down 90% from last year as the rupee reducing its value slowed down imports according to the central bank. PM says “since the previous government rule over the county and did a blunder recent government taking strict measures for the economy”.

Shehbaz Sharif explained to his government to not import unnecessary items and to increase exports simultaneously. Delegates said, “the economic condition of Pakistan was balanced and call the skilled manpower of the country a real strength”. Delegate explained Pakistan stock exchange was one of the most effective exchanges in the region”. The PM said, “despite facing natural disasters like floods and inheriting mismanagement of the previous government the recent government had taken strict measures to improve the economy”.

 Pakistan made efforts in running the campaign on climate change were appreciate by the delegate. PM shelves determined for the economy because the value of the rupee has fallen down very much in the last months against US dollars. As government has controlled the dollar price temporarily and fuel price has also risen. The government applies tax, which requires unlocking funds from an IMF bailout. To get a loan government has passed mini-budget to fulfill the terms and conditions of the IMF. During the first seven months of the current fiscal year the country’s current account shortfall by 67% to $3.8 billion, compared to a shortfall of $11.6 billion during the same period last year.

The economy of Pakistan lies in crisis and the government is taking serious actions to settle down this issue. The government is facing difficulties in importing items due to the current deficit account. It has created inflation for which the common man feels difficulty in surviving. The policies of government should not affect anyone, rather elite can bare it more than poor people. A mini-budget has passed by Ishaq Dar which has created difficulties for the common man.

Syeda Qandeel Zehra
Syeda Qandeel Zehra
Syeda Qandeel Zehra is a senior content writer with writing expertise in different niches. She is an MBA graduate by qualification and loves to write about diverse topics. Zehra has 3 years of writing experience and currently employed at as a content writer.


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