Prime Minister Shehbaz Sharif has once again extended an invitation to all political parties in Pakistan to sign a “Charter of Economy,”.
During a press conference in London, PM Shehbaz discussed Pakistan’s stance on various issues, including Palestine and Kashmir, which he highlighted in his address to the 79th United Nations General Assembly (UNGA). He also held productive meetings with world leaders, including the British Prime Minister, Bangladesh’s Chief Executive, the President of Turkiye, Iraq’s Prime Minister, and the Crown Prince of Kuwait.
In his UNGA speech, the prime minister strongly advocated for Palestine’s immediate full membership in the United Nations and condemned the ongoing Israeli aggression in Gaza, calling for an immediate cessation of the violence. He also condemned human rights violations in Indian-occupied Jammu and Kashmir, urging the international community to support the Kashmiris’ right to self-determination, as promised by the UN Security Council resolutions.
On Pakistan’s economic front, PM Shehbaz stated that the country is moving toward stability, with the economy on a positive trajectory. The government, he noted, had averted a default and realigned the economy by signing a standby agreement with the International Monetary Fund (IMF). Recently, the IMF approved a $7 billion Extended Fund Facility for Pakistan.
PM Shehbaz acknowledged the support of Saudi Arabia, the UAE, and China in securing the IMF deal and thanked Finance Minister Muhammad Aurangzeb, Deputy Prime Minister Ishaq Dar, their economic teams, and the diplomatic efforts of Pakistan’s Ambassador to China.
He also commended Army Chief General Syed Asim Munir for his role in reaching the IMF agreement, stating that Pakistan has emerged from its economic slump and is on the path to recovery. Inflation, which peaked at 32% last year, has dropped to 9.4%, and the State Bank of Pakistan has reduced the policy rate to 17%. The prices of essential commodities have stabilized, reflecting the improvement in economic conditions.
The prime minister stressed the importance of collective national efforts, particularly from the elite class, to ensure continued economic progress.
