Prime Minister Shehbaz Sharif stated on Wednesday that concerns over the International Monetary Fund (IMF) rejecting Pakistan’s appeal to lower electricity prices have now been resolved.
Speaking at a federal cabinet meeting, the prime minister said IMF Managing Director Kristalina Georgieva indicated that the global lender is open to reviewing Pakistan’s power for a tariffs reduction plan if presented formally.
The prime minister also spoke about his recent visit to Dubai, where he discussed economic and investment matters with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Army Chief General Syed Asim Munir was also present at the discussions.
During the visit, Shehbaz met with the IMF chief and raised concerns about high production costs hindering industrial growth.
“We told the IMF that economic growth is only possible if production costs decrease,” he stated, adding that the lender responded positively.
He mentioned that the IMF acknowledged the government’s economic reforms, and in recognition of these efforts, he had the cabinet approve the team’s achievements during the meeting.
On foreign relations, Shehbaz reaffirmed Pakistan’s strong ties with Saudi Arabia, describing the kingdom as a “trusted brotherly nation.”He assured that Pakistan remains committed to supporting Saudi sovereignty and security.
Discussing the humanitarian crisis in Gaza, the prime minister reiterated Pakistan’s stance at the Dubai summit, emphasizing that over 50,000 Palestinians have lost their lives.
“This is genocide at its worst,” he stated, expressing hope for a peaceful resolution in the region.
Shehbaz also noted an increase in remittances, attributing it to the trust overseas Pakistanis have in the government. He pledged to introduce further initiatives to support expatriates.
In the recent Libya tragedy, where several Pakistanis lost their lives while attempting illegal migration, the prime minister called for a stricter crackdown on human trafficking.
He urged authorities to undo the “black market” that puts innocent lives at risk.
