ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said that security has become a big challenge.
Chairing a meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC), the prime minister said that many people were freed after the interim government took over in Afghanistan.
The meeting was attended by Chief of the Army Staff, federal cabinet, provincial chief ministers, prime minister of Azad Jammu and Kashmir, Gilgit-Baltistan chief minister and high-level government officials.
“The discussion in parliament in this regard is before everyone. Now this challenge [terrorism] has again surfaced, and we cannot move forward without crushing its head,” Shehbaz said.
“We will have to crush the head of a monster like terrorism which surfaced due to a wrong decision taken by then government in 2021,” he said.
He said joint efforts of the federal and provincial governments are needed to eliminate the scourge of terrorism. The prime minister declared that law enforcing agencies (LEAs) were fully committed to halting the nefarious designs of enemies.
He underlined that the economic development was directly linked with political stability as the strength of a country’s economy was deeply rooted in its political framework.
Shehbaz said the country’s macroeconomic indicators had significantly improved due to the untiring efforts of the economic team, expressing his confidence that the year 2025 would bring prosperity and growth in the country.
“For the first time after 2018, the inflation rate has been eased down to 4.1 percent, foreign remittances have posted an increase of 34 percent, exports have also jumped, and foreign exchange reserves have jumped from $4 billion to $12.5 billion,” he said, adding that the policy rate which was now at 13 percent, had space of further 8 percent reduction keeping in view the inflation rate.
He said the government was working on a substantial decrease in the prices of electricity.
As regards, foreign investment, he emphasized that MoUs worth billions of dollars had already been signed with Saudi Arabia, Qatar and the UAE. He said having achieved economic stability, the country had now entered the growth stage.
“If we want to achieve the economic development, then we will have to focus on export-led growth... and we have no other option,” he said.
Describing the economic achievements as the result of teamwork, the prime minister said that the federation and provinces were working together, adding that “everyone has to do their part. If we work hard day and night, Pakistan will be able to raise its head in the world,” he added.
The prime minister also appreciated the efforts of Federal Board of Revenue and the economic team for collecting an additional Rs72 billion under ADR (advance-to-tax ratio) due to which the government’s target of tax revenue for December 2024 had almost been achieved.
The prime minister also appreciated the role of SIFC, ministries, departments and affiliated stakeholders in setting the tone for future activities during 2025. He also emphasized upon the importance of collective efforts at all tiers in the larger interest of the country.
He noted that due to the faceless interaction facility, 39 percent time duration of container inspection had been reduced while businessmen got relief of 89 percent.
Additionally, he said, smuggling of sugar through Afghanistan had been reduced to zero which was a positive sign for the country’s economy.
He informed the meeting that the national exchequer received $0.5 billion in term of sugar export while the rice exports posted $4 billion.
Paying tributes to the sacrifices of Pakistani forces, law enforcement agencies and police against terrorism, he said that there could be no greater sacrifice than the way they were sacrificing their lives.
The prime minister welcomed the agreement in Parachinar and paid tributes to those who played a role in it. He said that hundreds of people were killed on both sides. “Such an incident should never happen again, for this it is necessary that we take decisions above personal likes and dislikes.”
The meeting of the SIFC Apex Committee showed profound satisfaction in improving the macro-economic conditions of the country while emphasizing the importance of collective efforts for ensuring unhindered economic growth and passing on the dividends to the masses.
During the session, the committee approved the action plan for optimization of SEZs to rejuvenate industrial landscape of Pakistan. The committee also reviewed the proposal of National Minerals Harmonisation Framework with due consent of all stakeholders.
The forum was briefed on various initiatives in the domain of HRD, enabling improvement of skills and global standard accreditation.
The 11th Apex Committee reviewed various initiatives being steered through the SIFC forum. The committee secretary briefed the forum about strategic focus, initiatives and contributions of the SIFC to support the National Economic Transformation Plan 2024-2029 ‘Uraan Pakistan’.
The chief ministers also shared ongoing initiatives in each province to spur the economic growth.
The COAS assured Pakistan Army’s support to government’s initiatives for economic stability, peace and security.
Meanwhile, the prime minister extended appreciation to Pakistan Navy for conducting successful anti-narcotics operation in the Northern Arabian Sea.
During the operation, the Pakistan Navy Ship (PNS) Moawin confiscated a drug shipment worth around US$1 million.
“This is a very significant milestone in the anti-narcotics campaign,” the prime minister said in a press statement issued by the PM’s Office. He said the Pakistan Navy played a central role in preventing drug smuggling on the country’s maritime defence and sea routes. “The nation is proud of the personnel of the Pakistan Navy,” the prime minister added.