ISLAMABAD: Prime Minister Shehbaz Sharif vowed to put Pakistan on the path to progress as the nation celebrated its 78th Independence Day on Wednesday, announcing that he would unveil a five-year economic plan in the next couple of days, and present his vision to transform the country into a prosperous one.
Pakistan has faced a prolonged economic crisis that has seen its external debt mount, its currency weaken against the US dollar and its foreign exchange reserves drop to dangerous levels in the past two years.
The South Asian country, desperate to stave off a balance of payments crisis, has turned to regional allies and global financial institutions such as the International Monetary Fund (IMF) for debt rollovers and loan programs to sustain its fragile economy.
Speaking at a ceremony in Islamabad to celebrate Pakistan’s 78th Independence Day, Sharif acknowledged that people were suffering from high inflation and unemployment in the country.
“I have focused my speech today on Independence Day but In a few days, I will address the nation and present a five-year economic plan in front of you,” Sharif told participants of the event.
The Pakistani prime minister vowed to work hard whilst he was prime minister to put the South Asian country on the path to progress and prosperity.
“Till the last drop of blood in my body, I will work day and night with my colleagues in the government to bring down inflation, electricity prices and uplift Pakistan’s economy and ensure it progresses,” Sharif vowed.
Sharif noted that Pakistan’s industries and particularly its agriculture sector cannot progress until electricity prices are slashed. He said it is also not possible to increase revenue from exports without slashing power prices and granting relief to the business community.
“I want to tell you today that the entire government is working together on this,” he said. “God willing in the next few days, you will get a good news about the decrease in electricity prices across Pakistan.”
PRESIDENT STRESSES UNITY, STABILITY
Pakistan’s President Asif Ali Zardari, meanwhile, urged the country to forge unity and bring about stability as it marked its 78th Independence Day.
“Zardari stressed the need to set aside differences and work with dedication for the unity, integrity, and economic stability of the country to cope with current challenges,” the state-run Associated Press of Pakistan (APP) reported.
He called for a collective commitment to uplift the nation and work toward making Pakistan a prosperous country.
“We should wholly and solely concentrate on the well-being of the people, especially of the masses and the poor,” Zardari said.
“It is time to invest in our youth and women, improve service delivery, and create a business-friendly environment to make Pakistan a great nation.”
