Prime Minister Shehbaz Sharif has affirmed Pakistan’s commitment to fulfilling its obligations to the International Monetary Fund (IMF), while stressing that excessive taxation is not a sustainable solution for the country’s economy.
During a speech at the Pakistan Stock Exchange in Karachi on Wednesday, the prime minister reiterated the country’s plans for self-reliance.
He acknowledged the necessity of IMF agreements in the current context but mentioned that Pakistan would part ways with the institution “when the time is right.”
Emphasizing Karachi’s importance, PM Shehbaz praised the city’s resurgence as a financial and export hub, attributing the improvement to collaborative government efforts.
“Karachi’s lights had dimmed in the past, but today, it is shining once again,” he said, highlighting that the city remains central to Pakistan’s trade and finance. He also stressed the need to leverage the momentum of the stock market for economic growth.
Looking ahead, the prime minister expressed confidence in future initiatives, such as the “Uraan Pakistan” program, which is aimed at driving the nation’s economic progress. He emphasized that recent successes were due to teamwork and highlighted the importance of ongoing growth-oriented reforms.
Earlier, PM Shehbaz was welcomed at the Pakistan Air Force Base Faisal by Sindh Governor Kamran Tessori and Chief Minister Murad Ali Shah. He was accompanied by Finance Minister Ishaq Dar, Information Minister Attaullah Tarar, and other officials.
The prime minister is scheduled to visit the Karachi Port Trust (KPT) and Aga Khan University later in the day, where he will meet with business leaders.
PM Shehbaz is in Karachi for a day-long visit, during which he will inaugurate the new faceless customs assessment system designed to enhance the efficiency and transparency of the customs clearance process.
