Prime Minister Shehbaz Sharif has pledged to end Pakistan’s dependency on foreign aid and IMF bailouts and surpass neighbouring nations in economic activity, as he outlined a series of bold reforms to reduce the cash-strapped government’s expenses and revive the economy.
Sharif addressed the nation on Saturday and expressed hope that the next deal with the International Monetary Fund (IMF) for a bailout package would be the last in Pakistan’s history.
The Pakistan government is currently in talks with the IMF for a loan estimated to be between USD 6 billion to USD 8 billion, as it strives to avert a default in a slow-paced economy.
Sharif emphasised that every penny would be spent on the progress of the nation and its people.
He expressed commitment to reduce expenses and, within five years, provide education and skills to the youth.
“Inshallah, this will be the last IMF programme in Pakistan’s history. We will stand on our feet and surpass our neighbouring countries in economic activity,” he said in the televised address.
Sharif was addressing the nation after his government completed 100 days of rule.