Prime Minister Shehbaz Sharif acknowledged the ongoing consultations with provincial governments regarding the federal budget, emphasizing that this collaborative approach aims to guide the nation’s economy in the best interest of all citizens. These discussions have been taking place over several weeks, reflecting a unified effort to address economic challenges.
Following the National Economic Council (NEC) meeting, the prime minister expressed his gratitude to all chief ministers for their active participation and support throughout the budget formulation process. He noted that further talks were held to explore options for expanding fiscal space to meet the country’s financial needs.
He stressed that all decisions were made collectively, aligning with Pakistan’s broader economic objectives. “Our shared responsibilities include creating employment opportunities, enhancing exports, improving economic conditions, and boosting productivity,” he remarked.
In a significant development, PM Shehbaz highlighted the impact of regional instability on global oil prices, which have surged sharply, exerting additional pressure on economies worldwide. Despite these external challenges, he pointed out that Pakistan’s macroeconomic indicators have shown signs of stabilization, with ongoing reforms aimed at reinforcing economic resilience.
The prime minister reiterated the government’s commitment to strengthening vital sectors such as industry and agriculture, while prioritizing export growth as a key driver for sustainable economic stability. He underscored that long-term progress depends on continuous investment in productive capacity and the implementation of structural reforms.
Notably, he drew attention to the global energy crisis, mentioning that in several countries, citizens are already experiencing fuel shortages and long queues at petrol stations due to supply constraints and rising prices.
Paying tribute to the sacrifices made by security forces in combating terrorism, PM Shehbaz expressed confidence that national unity and consensus will ultimately eradicate this threat. He emphasized the importance of allocating sufficient resources and maintaining focus on national defense, especially given the complex regional security environment.
The NEC meeting convened federal and provincial leaders to finalize critical economic decisions for the upcoming fiscal year. Discussions centered on budget allocations, development priorities, and setting macroeconomic targets to ensure balanced growth and stability.
