All-out efforts under way to lower inflation: PM

LAHORE: Prime Minister Shehbaz Sharif Saturday called upon traders to boycott the black sheep in their ranks and pay due taxes for economic health of the country.

Addressing the LCCI Executive Committee members at the Governor’s House here, he said the economy was taking a positive turnaround due to untiring efforts of the government, and the role of the business community was of utmost importance in that process.

He said the businesspeople were facing a difficult situation currently, but the government was utilising all its energies to make things better.

The premier said the coalition government was making all-out efforts to lower inflation, and the business community should also contribute to these efforts. He said it was a collective responsibility of the government, the business community and affluent people to think about the poverty-stricken and impoverished strata of society and take effective measures to improve their living standards.

The premier said the government had to increase the electricity rates. It was required due to gigantic circular debt, as well as due to the demand of the International Monetary Fund (IMF). “We have line losses and transmission losses. The billing system is in a shambles,” Shehbaz said adding that it was also true that taxes had been increased, but if the levied taxes were not paid, then additional taxes would have to be imposed.

Shehbaz said Pakistan’s relationship with the US experienced a blow due to unfortunate narrow-mindedness of the previous government. He said the incumbent coalition government worked day and night to smoothen relations with the USA. “During the last 15 months, we have repaired our relations with the US and efforts of the foreign minister in this regard were also laudable,” the PM said and added that all that was made possible through collective efforts. “It is our aim that personal interests should be placed under the national interests,” he added.

“Pakistan did not follow conditions of the IMF in the past, so it asked for a guarantee from us,” Shehbaz said adding that now the country had got a nine-month breathing space with $2 billion from Saudi Arabia, $1 billion from the UAE and $1.2 billion from the IMF. He said, currently, Pakistan’s reserves had reached $14 billion. China must be mentioned in all these cases. China rolled over $5 billion of Pakistan’s commercial debt in four months. If China had not done that, the country would have defaulted.

The prime minister said all institutions would have to work within their ambit and coordinate with each other for taking the country forward, and politicians, judiciary, businesspeople, industrialists and other stakeholders would have to run the state affairs with collective wisdom.

He said the Special Investment Facilitation Council was a recovery plan. The secret of Pakistan’s development and prosperity lies in it. The revival of agriculture is the easiest task, he added.

Separately, former president and Co-Chairman PPP Asif Ali Zardari and Prime Minister Shehbaz Sharif agreed to end the federal and provincial governments in the second week of August 2023.

The decision was taken in a meeting held between the two leaders at the Model Town residence of the prime minister on Saturday. Both also discussed political strategy for the upcoming general election.

According to the announcement of Prime Minister’s Office, Asif Ali Zardari reached the prime minister’s residence in Lahore for a meeting. The two leaders held detailed consultations on the country’s political situation and other issues during the meeting.

According to sources, Asif Zardari would stay in Lahore for a few days. Sources said in his meeting with the PM, Zardari discussed formation of the caretaker setup. Sources claimed that seat adjustment in the upcoming general election and political alliance between the PPP and PMLN were also discussed.

Sources said besides the politics of Punjab and Sindh, the two leaders also discussed in detail the caretaker setup in Khyber-Pakhtunkhwa, Balochistan, AJ&K and Gilgit-Baltistan. They also discussed introducing a technocrat caretaker government in the country instead of preferring bureaucrats.

Sources claimed that both leaders also discussed the return of Nawaz Sharif to Pakistan. They also discussed further law-making, if needed, to clear the way of Nawaz Sharif. Asif Zardari also congratulated Shehbaz Sharif for successfully dealing with the IMF.

The PM also met various PMLN leaders and discussed the political scenario with them. Mian Hamza Shehbaz was also present, along with other PMLN leaders.

The PM, who’s also the PMLN president, directed the party leaders, ticket-holders and workers to launch their door-to-door campaigns, especially in Lahore, Faisalabad, Gujranwala, Multan, Sialkot, Narowal, Rawalpindi, Islamabad and other major cities. He told the PMLN leadership to tell people about the relief given to them by the present government as well as the difficult situation the country was facing currently.

Prime Minister Shehbaz Sharif also visited the residence of leader of Istehkam-e-Pakistan Party (IPP), Jahangir Khan Tareen, and offered condolences on the demise of his brother.

Meanwhile, the newly-elected office-bearers of Old Ravian Union called on PM Shehbaz Sharif on Saturday and discussed matters of mutual interest. They said it was a matter of pride for them that the prime minister himself was educated at the Government College.

The PM cheerfully remembered the teachers and students of his student life days. He expressed the resolve to provide all possible support to the Old Ravian Union in its projects for spread of education and welfare of people. The delegation presented a commemorative shield and photograph to the prime minister.

Also, PM Shehbaz Sharif said Pakistan joined the brotherly people and the government of Turkiye in commemorating the seventh anniversary of Democracy and National Unity Day, observed on Saturday.

On his Twitter handle, the prime minister said that while recalling the supreme sacrifices of the brave Turkish people, they paid rich tribute and respects to the martyrs who valiantly resisted the heinous attempt to deprive them of democracy and basic rights.

The prime minister further observed that the takeaway of the Day was that the nations could overcome any challenge with the power of unity, fraternity and deep bonds.