Privatisation of SOEs Central to Reforms, PM Tells Cabinet

Prime Minister Shehbaz Sharif has said that the government’s economic reforms are focused on privatising loss-making government institutions to provide long-term stability to the economy. He said this while addressing a meeting of the federal cabinet.

According to the prime minister, tough but inevitable decisions were taken to overcome the financial challenges Pakistan was facing, as a result of which the country returned from the brink of default and is now moving towards economic stability.

Talking about diplomatic ties in the region, he termed the meetings with the President of the United Arab Emirates as a positive development, while in a telephonic conversation with Saudi Crown Prince Mohammed bin Salman, satisfaction was expressed over the pace of economic and strategic relations between the two countries.

Economic analysts say that strong relations with the Gulf countries can create important opportunities for Pakistan not only in the fields of investment but also in the energy and trade sectors. According to them, the continuation of reforms will further strengthen the confidence of the country’s economy.