Pakistan’s Economy on Path to Growth and Transformation, Says PM Shehbaz Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has said Pakistan’s economy is moving towards growth and transformation with renewed determination, confidence and stability, expressing optimism that the country will become the world’s sixth-largest economy well before 2050.

Addressing the Pakistan Minerals Investment Forum 2026, the prime minister said Field Marshal Syed Asim Munir and his team had played a key role in making the minerals vision an integral part of the country’s broader economic vision.

Referring to an assessment by international financial institution Goldman Sachs, which projected that Pakistan could become the world’s sixth-largest economy by 2075, Shehbaz Sharif thanked the institution’s chairman, John Thornton, and Barak for maintaining their confidence in Pakistan.

However, he said he would revise that timeline, expressing confidence that the target would be achieved before 2050.

The prime minister reaffirmed that the Pakistani nation and its leadership had never surrendered despite difficult and challenging circumstances, adding that perseverance would continue to drive the country towards progress.

He acknowledged that the journey was extremely difficult and that the country was passing through a challenging period. At times, he said, circumstances could make people sigh when they wanted to smile, while even health-related difficulties could test their resolve.

“However, at such critical moments, one should take some rest if necessary, but never give up or stop working,” he said, describing this as the country’s fundamental philosophy and the spirit that would help Pakistan emerge as a great nation among the comity of nations.

Welcoming international participants at the forum, Shehbaz Sharif praised Mr Freeland, saying he had devoted his entire life to exploring valuable resources in areas where others saw only barren land.

He also referred to the enduring friendship between Pakistan and China, saying Pakistan wanted to develop long-term and sustainable economic partnerships with all its international partners.

Outlining the government’s minerals policy, the prime minister made it clear that Pakistan did not want its mineral resources to be extracted merely as raw materials and then smuggled or exported abroad.

Instead, he said, every project linked to Reko Diq and the Tethyan Belt should include modern refineries, smelters, cable and conductor factories, along with other industries capable of directly connecting Pakistan with global markets.

Shehbaz Sharif urged investors to adopt a comprehensive approach by carrying out mining, processing and manufacturing activities within Pakistan before exporting finished products to international markets.

He said this policy would not only generate employment opportunities locally but also help the country earn billions of dollars in foreign exchange through value addition.