Pakistan PM defends tough structural reforms, says country can't afford ‘business as usual'
Speaking at an orientation session for participants of the Uraan Pakistan youth program, Sharif recalled the fragile economic conditions he inherited after assuming power following last year's general elections.
He noted that Pakistan had narrowly avoided a sovereign default in mid-2023, when inflation surged to nearly 38 percent, before securing a critical bailout package from the International Monetary Fund (IMF).
The prime minister said his administration took on the 'onerous task' of stabilizing the economy under immense pressure, choosing to pursue long-delayed reforms rather than temporary fixes.
'Pakistan had to undertake these long-overdue, deep structural changes if we had to find our lost place in the comity of nations through hard and untiring efforts,' he said.
Sharif pointed to a set of key reforms aligned with IMF recommendations, including the digitization of the Federal Board of Revenue (FBR).
He noted the transition from paper-based tax systems to digital and AI-led processes was already bearing fruit.
'Faceless interactions — these terminologies were unknown in FBR,' he said, adding that one previously underperforming sector saw its tax contribution rise from Rs12 billion to over Rs50 billion within a year due to improved enforcement.
The prime minister said his administration had prioritized accountability, removing senior FBR officials accused of corruption and resisting political pressure in doing so.
'It's a long and thorny journey,' he continued. 'We are facing bumps on the way and mountain-like impediments. But I can assure you, we will not shy away from discharging our responsibility.'
Sharif maintained that merit would remain the cornerstone of his governance model.
'Delivery is the name of the game,' he said. 'Performance is the name of the game.'
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