Prime Minister Shehbaz Sharif announced on Thursday that a comprehensive five-year economic revival plan will be unveiled in the coming weeks. Speaking at the Buna-Raast connectivity project, the Prime Minister outlined that the plan, which has been developed through extensive consultations with stakeholders, will focus on revitalizing key sectors including agriculture and information technology.
“The ‘Home-Grown Economic Program’ is designed to enhance our economy by targeting agriculture, IT, and other underdeveloped sectors,” said Sharif. He emphasized that the final details of the plan are nearly complete and will be presented to the public shortly.
Addressing ongoing challenges, Sharif noted that he is personally overseeing reforms in the Federal Board of Revenue (FBR) and the power sector. He expressed confidence in positive outcomes from these reforms, stressing the importance of hard work and commitment from the nation. “There are no shortcuts—only hard work and dedication. Let’s focus on effective implementation rather than past debates,” he added.
Buna-Raast Connectivity Project
The Buna-Raast connectivity project aims to integrate Pakistan’s Raast payment system with the Arab Monetary Fund’s Buna system. This initiative will streamline remittance processes for overseas Pakistanis in Arab countries, enhancing the efficiency and affordability of sending money home. The project is expected to bolster Pakistan’s foreign exchange reserves and strengthen ties with the Arab world.
The Prime Minister expressed gratitude to the Arab Monetary Fund, State Bank of Pakistan, Finance Ministry, Bill and Melinda Gates Foundation, and Karandaaz for their support. He highlighted that the project would modernize Pakistan’s digital payment infrastructure and improve the country’s standing with the FATF.
Dr. Anita Zaidi, President of the Bill and Melinda Gates Foundation, praised the project for its potential to digitally connect Pakistan and the Arab economies, thereby boosting productivity and system efficiency.
