Prime Minister Shahbaz Sharif: Pakistan compelled to approach IMF, warns of dire consequences if tough decisions not made

In a significant address during a ceremony marking the signing of a farmer package in Quetta, Prime Minister of Pakistan Shahbaz Sharif stated that the country was forced to seek assistance from the International Monetary Fund (IMF). He emphasized that failure to make tough decisions now would lead to a similar situation three years later, necessitating another visit to global financial authorities.
Highlighting ongoing development initiatives, he noted the transfer of 28,000 tube wells in Balochistan to solar energy, a project costing Rs. 55 billion, with the federal government bearing 70% of the expenditure and the provincial government 30%. Shahbaz Sharif underscored challenges hindering Balochistan’s progress and advocated for greater subsidies to spur development and prosperity.
He also pledged to provide solar panels to farmers and confirmed plans to install 28,000 connections within three months. The Prime Minister outlined broader national efforts, including transitioning 1 million tube wells nationwide to solar energy, despite existing financial constraints. Collaborative efforts with provinces were stressed for successful implementation of solar projects.
Federal allocations for science schools in Balochistan and sending 1,000 graduates to China for agricultural training were also announced. Shahbaz Sharif expressed concern over debt burdens impacting future generations and urged collective efforts to enhance national initiatives and eliminate terrorism. Promising development, he affirmed readiness to transform Gwadar into a world-class port, projecting substantial benefits surpassing those of oil reserves.