Prime Minister Shehbaz Sharif announced plans for “massive economic reforms” aimed at lifting Pakistan out of its current economic woes.
Addressing the closing session of the World Economic Forum’s Special Meeting on Global Cooperation, Development and Energy in Riyadh, the prime minister stressed the need for Pakistan to become independent and said, “We must stand on our own feet.” I know it’s hard, but it’s not impossible.
Acknowledging the support of the Saudi government, Prime Minister Shehbaz thanked Pakistan for the assistance. He emphasized the urgency of addressing issues such as inflation and debt, calling them critical obstacles, which together pose a major challenge for the nation.
Referring to electricity theft, the Prime Minister bemoaned the existence of an “elite culture” in which unworthy people are handed over. “We have to stand on our own two feet,” he said, adding that austerity measures are needed.
Focusing on climate change, the Prime Minister spoke about the damage caused by the flood disaster in 2022, which will cause huge human and economic losses. He noted Pakistan’s vulnerability to climate change and called for international cooperation to mitigate its impact.
In addition, Prime Minister Shehbaz commented on the impact of the war in Ukraine on global prices, contributing to rising inflation. He also emphasized the importance of peace in Gaza and pointed out that world peace is linked to conflict resolution in conflict areas.
