ISLAMABAD: Prime Minister Shehbaz Sharif vowed to put Pakistan on the path to progress as the nation celebrated its 78th Independence Day on Wednesday, announcing the planned unveiling of a five-year economic plan and his vision to transform the country.
Pakistan has faced a prolonged economic crisis that has seen its external debt mount, its currency weaken against the US dollar, and its foreign exchange reserves drop to dangerous levels.
The South Asian country, desperate to stave off a balance of payments crisis, has turned to regional allies and global financial institutions such as the International Monetary Fund for debt rollovers and loan programs to sustain its fragile economy.
Speaking at a ceremony in Islamabad to celebrate Pakistan’s 78th Independence Day, Sharif acknowledged people were suffering from high inflation and unemployment.
“I have focused my speech today on Independence Day but in a few days, I will address the nation and present a five-year economic plan,” Sharif told his audience.
The Pakistani prime minister has vowed to work hard during his time in office to put his country on the path to progress and prosperity.
“Till the last drop of blood in my body, I will work day and night with my colleagues in the government to bring down inflation (and) electricity prices, and uplift Pakistan’s economy and ensure it progresses,” he vowed.
Sharif acknowledged that Pakistan’s industries — its agricultural sector in particular — could not progress until electricity prices were slashed. He said it was also impossible to increase revenue from exports without cutting power prices and granting relief to the business community.
“I want to tell you today that the entire government is working together on this,” he said. “God willing in the next few days, you will get good news about the decrease in electricity prices across Pakistan.”
Meanwhile, President Asif Ali Zardari has urged the country to forge unity and bring about stability.
“Zardari stressed the need to set aside differences and work with dedication for the unity, integrity, and economic stability of the country to cope with current challenges,” reported the state-run Associated Press of Pakistan.
Calling for a collective commitment to uplift the nation and work toward making Pakistan a prosperous country, he said: “We should wholly and solely concentrate on the well-being of the people, especially of the masses and the poor.
“It is time to invest in our youth and women, improve service delivery, and create a business-friendly environment to make Pakistan a great nation.”
