Prime Minister Shehbaz Sharif has stated that Pakistan will honour its commitments to the International Monetary Fund (IMF) but emphasised that excessive taxation cannot sustain the country’s economy.
Speaking at the Pakistan Stock Exchange in Karachi on Wednesday, the prime minister reiterated plans for self-reliance.
PM Shehbaz remarked that while IMF agreements are currently necessary, Pakistan will part ways with the institution “when the time is right.”
Highlighting Karachi’s significance, he noted its resurgence as a financial and export hub, crediting collective government efforts for the city’s brighter outlook.
“Karachi’s lights had dimmed in the past, but today, it is shining once again,” PM Shehbaz said, adding that the city remains the centre of Pakistan’s trade and finance. He underscored the importance of harnessing stock market momentum for economic growth.
The premier expressed optimism about future initiatives, including the “Uraan Pakistan” programme aimed at propelling the nation’s economy upward. He described recent successes as a result of teamwork but stressed the need for continued growth-focused reforms.
Earlier, PM Shehbaz was welcomed at the Pakistan Air Force Base Faisal by Sindh Governor Kamran Tessori and Chief Minister Murad Ali Shah. He was accompanied by Finance Minister Ishaq Dar, Information Minister Attaullah Tarar, and other officials.
The prime minister is also set to visit KPT and Aga Khan University later in the day and hold meetings with business leaders.
PM Shehbaz in Karachi on day-long visit
Prime Minister Shehbaz Sharif is in Karachi on a day-long visit where he will inaugurate the new faceless customs assessment system aimed at improving the efficiency and transparency of the customs clearance process.
Upon arrival at Faisal Air Base, Prime Minister Sharif was welcomed by Sindh Governor Kamran Tessori and Sindh Chief Minister Murad Ali Shah, Radio Pakistan reported on Wednesday.
According to a statement from the Prime Minister’s House, Sharif will attend a ceremony at the Pakistan Stock Exchange (PSX), where he will also mark the milestone of the PSX surpassing the 100,000-point mark.
In addition to his visit to the stock exchange, Prime Minister Sharif will tour the South Asian Port Terminal. He is scheduled to receive a briefing on the new faceless assessment system being implemented at the port, which is expected to reduce clearance times and increase transparency in the customs process.
The new automated customs clearance system, known as the Faceless Customs Assessment System, was a directive from Prime Minister Sharif during his previous visit to Karachi.
The system is expected to improve customs clearance efficiency and enhance transparency.
During his trip, the Prime Minister will also meet with Sindh Chief Minister Murad Ali Shah.
