Govt eliminated corrupt institutions to save economy, says PM Shehbaz

ISLAMABAD (Dunya News) - Prime Minister Shehbaz Sharif said that the ‘Pakistan Governance Forum’ would prove to be an excellent platform for steering the country toward sustainable development, adding that tax evasion in indirect taxes would be curbed and direct taxes would be reduced in the upcoming federal budget.

Addressing a ceremony of the Pakistan Governance Forum, the prime minister said that the forum would serve as an effective venue for shaping policies aimed at economic progress.

He noted that the “Uraan Pakistan” initiative was being steered in an effective manner by Planning Minister Ahsan Iqbal.

Recalling the economic crisis of June 2023, the prime minister said Pakistan had been on the verge of default at the time. “We took decisive steps to keep the country running and eliminated corruption-ridden institutions,” he stated.

He said that the Utility Stores Corporation had become a hub of corruption and was therefore shut down during Ramazan. “Billions of rupees were ending up in people’s pockets through this institution,” he remarked.

He added that electricity theft amounting to Rs200 billion had been brought under control, calling it a significant achievement.

Also Read: PM Shehbaz says Pakistan has emerged from economic crisis

The government also reduced electricity prices by Rs7 per unit, he said.

Shehbaz Sharif further stated that the Pakistan Public Works Department (PWD) had been dissolved despite immense pressure and recommendations for its continuation.

“We received countless requests not to shut it down, but the institution was ultimately abolished,” he said.

He added that the government had listened to legitimate concerns regarding solar energy policies.

The prime minister said that Pakistan’s overall economic situation had improved considerably. “The policy rate, which stood at 22 percent, has now fallen to single digits,” he noted, adding that more hard work was required to firmly place the country on the path of growth.

He emphasized that the government would take strict measures to prevent evasion in indirect taxes and that the next budget would aim to provide relief by reducing direct taxes.