Prime Minister Shehbaz Sharif has expressed concern over the performance of Pakistan’s export industry, saying decades of government support, subsidies and incentives have failed to produce the expected growth.
Addressing a ceremony at the Pakistan Stock Exchange (PSX) via video link, the prime minister said industrial product prices had increased while the sector’s overall performance remained unsatisfactory.
Shehbaz said the government had provided substantial support and subsidies to the export industry over the years. He said that despite receiving extensive incentives and being treated with exceptional generosity, the industry had failed to deliver a corresponding increase in exports.
The prime minister stressed that he was not singling out any particular individual or group, but said the situation was an undeniable reality. He noted that decades had passed, yet the industry had still not fulfilled its promise of sustained growth. At the same time, prices of industrial products had risen, while the sector’s performance remained below expectations.
‘New Pakistan’ discussion with IMF chief
The prime minister also spoke about his conversation with the IMF managing director, saying he had been told that the organisation was witnessing a “New Pakistan”.
Shehbaz said he responded that the change was not about a “New Pakistan” in a political sense, but rather the result of a dedicated team working to improve the country’s economic situation.
He told the IMF managing director that his team was working tirelessly for economic recovery and improving economic conditions.
Prime Minister Shehbaz also praised Field Marshal Asim Munir, saying he had worked with a level of commitment that was unparalleled. He expressed hope that the partnership would continue, saying he prayed that Allah Almighty would sustain it forever.
NAB chairman’s role also highlighted
The prime minister also referred to the presence of the National Accountability Bureau (NAB) chairman at the event.
Shehbaz Sharif said the NAB chairman had recovered land that had previously been lost through encroachment or fraud, highlighting the recovery as part of the government’s broader efforts.
The prime minister’s remarks at the Pakistan Stock Exchange focused on economic recovery, export performance and the need for Pakistan’s industries to deliver stronger results after years of government support.
