Seeds of Pakistan’s economic development taking roots: Shehbaz Sharif

Islamabad: Prime Minister Shehbaz Sharif on Monday felicitated the business community and the nation on the unprecedented surge of Pakistan Stock Exchange (PSX).

He said as a result of staff level agreement and a $3 billion standby arrangement with the International Monetary Fund (IMF), the trust of investors and business community was rapidly reviving.

After Pakistan’s agreement with the IMF, the Pakistan Stock Exchange (PSX) opened with a surge of 5.38%, or 2,231 points on Monday. The PSX benchmark rose to 43,684 points in the opening session.

In a statement issued by the PM Office, Shehbaz Sharif said the government’s continued struggle and prudent policies had started bearing fruits as signs of the country’s economic revival were rising.

We are resuming the journey of the economic development and decline in inflation rate from the point where Quaid Muhammad Nawaz Sharif had left.

Thanks God, the country has been put on the path of development again, he said adding that after severe disappointments, a new sun of hope is rising again.

Praying to Allah Almighty for further successes on economic front, the prime minister said the seeds of Pakistan’s development had started taking roots as a result of the government’s sincere efforts, honesty and truth.

He said the government once again had embarked upon Qauid Muhammad Nawaz Sharif’s vision of construction, development and people’s welfare.

He said just as between 2013 and 2018 the PML-N government succeeded to free Pakistan from energy crisis, terrorism and other problems, brought economic development, it would bring Pakistan on the path of development and prosperity with same spirit.

Shehbaz Sharif vowed to continue the journey of economic stability and national development with the same direction, spirit and struggle.

“Under the leadership of Muhammad Nawaz Sharif, just as China Pakistan Economic Corridor (CPEC) was launched, economy revived, inflation rate kept at around 4%, growth rate brought to 6.1% and policy rate was kept at 6%, we are coming back again to same journey of development,” he added.

He said now the development process in all sectors including agriculture, Information Technology and industry would be expedited. Then, he said the inflation would subside and youth would be empowered by providing them the employment and business opportunities.