Prime Minister Shehbaz Sharif Highlights Economic Improvements in Pakistan During UAE Visit

Prime Minister Shehbaz Sharif stated that Pakistan’s economy has gradually improved over the past year, with remittances reaching a record high of $3 billion in January, the highest in recent years. While addressing Pakistani business personalities and investors in Dubai, the Prime Minister also mentioned that the monthly inflation rate in January was 2.4%, and the current policy rate stands at 12%.

He emphasized that Pakistan’s IT exports are increasing, and similarly, exports in other sectors are also on the rise. These are positive indicators of economic stability following the IMF program. However, he acknowledged that Pakistan still has a long journey ahead, and economic stability remains the country’s primary goal.

The Prime Minister further highlighted that Pakistan is endowed with vast mineral resources worth trillions of dollars, though significant progress in this sector has been lacking. Nonetheless, he mentioned that advancements are now being made in the mining industry.

Prime Minister Shehbaz Sharif also spoke about the potential of the IT sector in Pakistan, noting that the country’s youth, who represent 60% of the population aged between 15 to 30 years, are a significant asset. He emphasized that providing proper training in IT and Artificial Intelligence (AI) could transform Pakistan’s economy, making it more dependent on technology.

Agriculture is another area the Prime Minister focused on, mentioning that Pakistan is blessed with abundant resources but has failed to enhance its agricultural productivity. He attributed this to the lack of modernization and technology use in the sector. Prime Minister Shehbaz Sharif stressed the importance of key agricultural crops like rice, wheat, sugar, and cotton, and acknowledged that Pakistan has fallen behind other countries in production. To address this, he mentioned that agricultural graduates have been sent to China for training, and the government is funding the program. He hopes that these trained students will return with new knowledge and contribute to increasing agricultural productivity in Pakistan.

Prime Minister Shehbaz Sharif is currently on a two-day visit to the United Arab Emirates (UAE), accompanied by key officials including Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, Sardar Owais Khan Laghari, Ataullah Tarar, and Tariq Fatemi.