Islamabad: Prime Minister (PM) Shehbaz Sharif while announcing to reduce power tariff Rs 4.04 per unit for industries and expressed his desire to further reduce tariffs by Rs 10 if possible.
" But my hands are tied, he said this while addressing a ceremony in the federal capital in honor of the country's leading exporters and business figures Friday,.
You people enhanced exports in difficult situation. You earned billion of rupees for Pakistan by taking risks. The whole nation is indebted to you all exporters.
It was being said that Pakistan is on the brink of default in 2025. Some people had written on tweets that Pakistan had technically defaulted.
I met MD IMF in Paris in 2023 he said adding MD IMF said to me it was very difficult to offer new structure at that time.
He said Sri Lanka is our friend. Sri Lanka had defaulted at that time. Demonstrations were being held on roads in Sri Lanka after it had gone default. Sri Lankan president said you should come with me to MD IMF.
MD IMF said I talked again to MD IMF. MD IMF said you leave the program incomplete in the mid. I assured we will implement IMF accord at every cost.
Upon it MD IMF said we are giving short term program for you. Traders and industrialists suffered losses.
He held Pakistan was on the brink of default. We saved the country from going default by taking difficult decisions. The entire nation gave sacrifice. The poor people faced difficulties . Policy rate was 22 percent. Pakistani industrialist too faced difficulties.
National economy has now achieved stability. The inflation is single digit today. Policy rate is 10.5 percent The industrialists should act upon the advice of finance minister and take strong decisions.
He said direct taxes should be reduced. it is no bigger crime than putting the tax into pocket after collecting it I salute them who are paying taxes.
He said best efforts are underway in digital field.
The credit for PIA privatization goes to Khawaja Asif. He lent too much support in privatization process.
Had there been no support of Field Marshal syed Asim Munir I could not have solved many problems.
Hanif Abbasi has changed the map of Pakistan Railways.