ISLAMABAD: Prime Minister Shehbaz Sharif emphasized the pressing challenge of national security and the need to eradicate terrorism while chairing the Apex Committee meeting of the Special Investment Facilitation Council (SIFC) on Thursday.
Highlighting the resurgence of terrorist threats, the prime minister stressed collective federal and provincial efforts to eliminate terrorism, which he attributed to a 2021 policy decision. “We must crush the head of the monster that terrorism has become,” he declared, reaffirming the government’s commitment to ensuring peace and stability.
The meeting, attended by Chief of the Army Staff (COAS), cabinet members, provincial leaders, and other high-level officials, reviewed key initiatives under the National Economic Transformation Plan 2024-2029 and progress on economic reforms.
Economic Achievements and Reforms
PM Shehbaz noted that the country had transitioned from economic stability to a growth phase, citing several indicators:
- Inflation has dropped to 4.1%, the lowest since 2018.
- Foreign exchange reserves have increased from $4 billion to $12.5 billion.
- Exports have risen, and remittances have posted a 34% increase.
- The policy interest rate of 13% has room for further reduction given the declining inflation.
- Revenue collection reached an additional Rs72 billion under the ADR mechanism, nearly meeting December’s tax targets.
The prime minister highlighted the government’s focus on export-led growth, the reduction of electricity costs, and fostering foreign investment through agreements with Saudi Arabia, Qatar, and the UAE, which collectively aim to inject billions into the economy.
Military and Law Enforcement Support
COAS General Asim Munir pledged the Pakistan Army’s continued support for the government’s economic and security initiatives. He reiterated the army’s commitment to maintaining peace and security to create a conducive environment for growth.
PM Shehbaz praised the sacrifices of law enforcement agencies and armed forces in combating terrorism, reaffirming their central role in protecting the nation.
Apex Committee Resolutions
The SIFC Apex Committee expressed satisfaction with macroeconomic improvements and approved several strategic initiatives, including:
- Optimization of Special Economic Zones (SEZs) to revitalize industrial growth.
- Implementation of the National Minerals Harmonisation Framework with stakeholder consensus.
- Human resource development initiatives to improve skills and align with global standards.
The committee also reviewed progress under the “Uraan Pakistan” plan, which targets 6% GDP growth by 2028, creation of 1 million jobs annually, and sustainable economic transformation.
Success in Anti-Narcotics Campaign
PM Shehbaz lauded the Pakistan Navy for a successful anti-narcotics operation in the Arabian Sea, where PNS Moawin intercepted a drug shipment worth $1 million. He called the operation a milestone in the country’s campaign against narcotics and praised the Navy’s pivotal role in securing maritime borders.
In closing, the prime minister emphasized the importance of unity, teamwork, and dedication to realizing Pakistan’s economic and security goals, urging all stakeholders to contribute to national progress.
