Mohsin Siddiqui (Chief Reporter)

Prime Minister Shahbaz Sharif, in his inaugural meeting, prioritizes talks with the International Monetary Fund (IMF) concerning the Extended Fund Facility (EFF) for economic reform. Emphasizing the urgency, he underscores the mandate received from the public for economic improvement and vows to prioritize the economy’s enhancement.

During the session, the Prime Minister receives a comprehensive briefing on the nation’s economic landscape from the finance secretary. He directs the immediate crafting of an action plan to address economic challenges, affirming the government’s commitment to facilitating investment and fostering a conducive environment for businesses.

Acknowledging the role of taxpayers in bolstering the economy through domestic exports and value addition, Shahbaz Sharif pledges government support for such endeavors. He advocates for the automation of the Federal Board of Revenue (FBR) to enhance transparency and efficiency.

Furthermore, Shahbaz Sharif announces plans for the privatization of loss-making state-owned entities to alleviate pressure on the national treasury. He calls for the formulation of strategies to curtail government board members’ privileges and expedite the transition of power and gas sectors to smart metering.

In a bid to spur employment opportunities, especially for the youth, the Prime Minister urges banks and financial institutions to devise strategies to promote small and medium businesses. Additionally, he emphasizes streamlining government institutions, advocating for mergers or closures where necessary.

Shahbaz Sharif underscores the significance of the Special Investment Facilitation Council (SIFC) in ensuring economic stability and announces plans for its reinforcement. Assuring swift action to address public needs, he reaffirms the government’s commitment to facilitating businesses, investors, and the youth alike.