In a speech at the inauguration of the Sabzazar Sports Complex, Prime Minister Shehbaz Sharif expressed his optimism about reaching a bailout package agreement with the IMF before its expiration on June 30. However, in case the deal fails to materialize, he pledged to approach the people of Pakistan for their support, without providing further details.
People are worried that the current IMF program of $6.5 billion will not be extended. It is supposed to end on June 30 and there is still $2.6 billion left.
Shehbaz blamed the previous government for the economic crisis. He said that they broke the IMF agreement and were more interested in attacking the opposition than in development projects. He further added that they canceled some Chinese initiatives and made no progress in their four-year term.
The prime minister highlighted the impact of the Russia-Ukraine war on the inflation rate and expressed concern for the financial burden faced by the common man. He emphasized the government’s efforts to provide relief to salaried individuals by increasing government employees’ salaries and raising the minimum wage.
Shehbaz also condemned the violence that occurred on May 9, considering it an attack on the army installations. He pledged that those involved in the incidents would face exemplary punishments to prevent such incidents from recurring.
Stressing the importance of political stability for economic stability, Shehbaz stated that the Pakistan Muslim League-Nawaz (PML-N), under the leadership of Nawaz Sharif, would bring both to the country. He assured the nation of his continued dedication to serving the people and expressed his commitment to economic development.
The prime minister concluded his speech after inspecting various sections of the sports complex and interacting with young athletes and school children. Caretaker Punjab Chief Minister Mohsin Naqavi also attended the event.
