Prime Minister Shehbaz Sharif, while addressing the Economic Governance Reforms ceremony, said that today is not just the start of a reform program but a day of reflection and renewal of new resolve at the national level.
The Prime Minister said that when the current government assumed power, Pakistan was facing severe economic challenges. Inflation had reached almost 30 percent and foreign exchange reserves were rapidly decreasing, however, in the last two years, the economy was brought back on the right track.
According to him, inflation has come down from 29.2 percent to 4.5 percent, while foreign exchange reserves have increased from $9.2 billion to more than $21.2 billion. The Prime Minister said that the current account deficit has changed from $3.3 billion to a surplus of $1.9 billion.
The Prime Minister said that the tax-to-GDP ratio has also improved and has increased from about 8 percent to more than 10 percent. According to him, more than 1 million new taxpayers have been added to the system and tax collections have increased by 26 percent in 2025.
According to economic experts, the improvement in inflation and current account reflects the effects of government policies. However, they say that for sustainable development, it will be necessary to further accelerate industrial production, exports and investment.
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