Saturday, 20 July 2024

PM Sharif Vows to Make Upcoming IMF Bailout Pakistan’s Last

  • PM Sharif commits to ending IMF dependency with the next bailout.
  • Inflation reduced from 38% to 12% in 100 days.
  • Plans for 300,000 IT trainees in China annually to boost skills.

Prime Minister Shehbaz Sharif has pledged that Pakistan‘s forthcoming IMF program will be its final one. In a televised address marking his administration’s 100 days, he outlined measures aimed at achieving economic stability and ending the cycle of debt reliance.

Sharif announced a major initiative to send 300,000 young Pakistanis to China annually for IT training, aiming to enhance the country’s technological workforce and boost economic growth. He also highlighted a significant reduction in inflation from 38% to 12%.

Sharif’s Bold Economic Plan: Last IMF Bailout and IT Revolution

Prime Minister Shehbaz Sharif has vowed to make the next IMF bailout the last one for Pakistan, aiming to break the country’s cycle of debt dependency. He emphasized the government’s commitment to economic reforms and reducing reliance on international loans.

One of the key initiatives announced is the plan to send 300,000 young Pakistanis to China every year for IT training. This move is expected to enhance Pakistan’s technological capabilities and create new job opportunities in the tech sector.

Sharif highlighted the reduction of inflation from 38% to 12% as a significant achievement of his administration’s first 100 days. This improvement in economic stability is a cornerstone of his broader strategy to revive the economy.

To foster a business-friendly environment, the government has reduced power tariffs for industries by Rs10.50 per unit. This measure aims to lower production costs and increase the competitiveness of Pakistani exports on the global market.

Prime Minister Shehbaz Sharif’s bold initiatives and commitment to economic reform demonstrate a clear vision for Pakistan’s future, aiming for sustainable growth and independence from international financial assistance.

“Today, I promise you that, God willing, if we strictly follow our program and fully commit to the goals we have set, then this program we are taking might be the last IMF program in the history of Pakistan.”

– PM Shehbaz Sharif

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