Shehbaz Sharif Rejects “Witchcraft” for Economic Solutions

ISLAMABAD, May 25, 2024 – Prime Minister Shehbaz Sharif emphasized the importance of hard work and austerity in navigating Pakistan out of its economic crisis, dismissing any notion that “witchcraft” could help the nation. His remarks came during the 10th meeting of the apex committee of the Special Investment and Facilitation Council (SIFC) at the Prime Minister’s Office.

Addressing the civil-military forum established to attract foreign investment, PM Shehbaz highlighted the joint efforts being made to resolve the country’s pressing issues. He briefed the participants about his recent visits to Saudi Arabia and the UAE, noting that leaders and delegations from these countries expressed satisfaction with SIFC’s performance.

The premier acknowledged the initial criticism over the formation of SIFC, stating, “Concerns were expressed when the SIFC took legal form.” However, he asserted that the forum had silenced its critics through its achievements. “SIFC is playing a key role in the development of Pakistan,” PM Shehbaz remarked, adding that all provincial governments have shown trust in the council, which aims to achieve significant goals for the nation.

Highlighting ongoing economic reforms, PM Shehbaz revealed that a foreign firm has been hired to digitize the Federal Board of Revenue (FBR). He also announced that the UAE has pledged to invest $10 billion in Pakistan, a significant boost to the country’s economy.

The meeting was attended by key provincial leaders, including Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, Punjab’s Maryam Nawaz, Sindh’s Murad Ali Shah, and Balochistan’s Sarfraz Bugti. Their presence underscored the collective commitment to overcoming economic challenges through the SIFC platform.

Prime Minister Shehbaz Sharif’s remarks underscore a strong call to action for Pakistan to embrace hard work and austerity measures as essential strategies for economic recovery. The continued efforts of SIFC, supported by provincial governments and international investments, are pivotal in steering the country towards stability and growth.