Pakistan moving from economic stabilisation towards recovery: PM

Prime Minister Shehbaz Sharif said on Wednesday that Pakistan was successfully transitioning from macroeconomic stabilisation towards a path of recovery, supported by prudent fiscal and monetary policies, despite regional conflict and external inflationary pressures. The prime minister made these remarks during a meeting with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on the sidelines of the 81st session of the United Nations General Assembly here. Prime Minister Shehbaz reaffirmed the government’s strong ownership of the economic reform agenda and reiterated Pakistan’s resolve to maintain the momentum of reforms and advance structural measures aimed at strengthening the economy and laying the foundations for sustainable and inclusive growth. He appreciated the IMF’s continued support for Pakistan’s economy and the managing director’s role in strengthening Pakistan’s partnership with the fund, while reaffirming his government’s commitment to the successful implementation of the IMF-supported reform programme. Highlighting improvements in fiscal discipline, external buffers and investor confidence, the prime minister cited the National Tariff Regime, enhanced domestic revenue mobilisation and progress on privatisation as examples of the government’s reform efforts. He also underscored his government’s commitment to protecting vulnerable segments of society alongside maintaining economic reforms. The IMF Managing Director appreciated Pakistan’s performance under the fund programme and the government’s stabilisation efforts, which she said were yielding tangible results. The two sides also discussed Pakistan’s forthcoming IMF programme review and continued cooperation in advancing reforms, strengthening economic resilience and supporting sustainable growth. Following the meeting, Kristalina Georgieva, in a post on X, said she had the opportunity to meet with the prime minister on the margins of the UN General Assembly to discuss Pakistan’s reforms. “Strong implementation has helped preserve stability, restore confidence & regain market access, ” she wrote, adding that continued reforms would help lift growth and improve people’s lives. Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Adviser on Privatisation Muhammad Ali, Special Assistant to the Prime Minister Tariq Fatemi and other senior officials were also present during the meeting.

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