ISLAMABAD, Mar 4 2024 :Muhammad Shehbaz Sharif, the newly-elected prime minister, on Sunday spelled out a number of initiatives to net the runaway inflation, high cost of living, price hike, circular debt in the energy sector and foreign debts, and expressed the optimism that though the mounds of challenges existed, but were not insurmountable.
In his maiden speech in the National Assembly, the prime minister-elect also offered an olive branch to the protesting opposition members with a ‘charter of reconciliation’, besides reiterating his insistence on pursuing a ‘charter of economy’.
Shehbaz Sharif was, earlier, elected as the prime minister for the second time in a 201-vote count by the newly formed National Assembly about three weeks after the conclusion of general elections, leading to formation of a coalition government.
He said that after the general elections, they had two options ahead of them; either to protect their politics or to save the country, but the allied parties’ leadership preferred interests of the country and resolved to play their role for the bright future of the countrymen.
Shehbaz said that Pakistan was blessed with immense natural resources and talented young people who could steer it out of the difficulties.
All the segments of society and political leadership should play their part in those endeavours, he stressed.
He said the economic and social challenges were myriad but at the same time, there was an opportunity, if they decided collectively to face them.
The PM-elect said that as per estimates, the budget revenues stood at Rs12,300 billion and after the NFC (national finance Commission) Award distribution, the Federal Government was left with only Rs 7,300 billion, out of which Rs 8,000 billion had been paid in interest and services charges, showing a deficit of Rs 700 billion.
He wondered that from where they would have to get resources for the development, education, health, salaries of the Federal Government employees and the armed forces!
He termed it an unending chain of seeking loans after loans and ‘a grave situation’ for about 250 million people of the country.
Referring to the protest of the opposition members, he regretted that there should be ‘a reign of realization rather than making noises in the House’, adding the history would decide over such tactics.
The newly elected prime minister further said that the country had sought about Rs 80,000 billion external, internal and private debts in the past.
The issues at hand required a deep surgery and introduction of reforms in the system and various sectors, he said, expressing the confidence that his senior party leadership along with allied parties would get rid of the crippling loans trap.
Shehbaz Sharif said other issues included in energy sector as the power sector alone was burdened with Rs2300 billion circular debt while recovery stood around 2800 billion rupees with Rs1000 billion gap.
About Rs500 to Rs600 billion rupees accounted for power theft whereas, circular debt in gas sector reached to Rs2900 billion, he added.
Shehbaz Sharif further said that it was an irony of the fate that the state owned enterprises (SOEs) were incurring Rs600 deficit annually and cited PIA which had been suffering from losses to the tune of 800 billion rupees in debt.
He maintained that tax evasion and theft in power and gas were matters of gravity for the country, equating them to ‘a bottomless pit’.
“These challenges are difficult though but not impossible to resolve. It is a thorny journey; full of obstacles but the developed nations had overcome all these obstacles,” he observed expressing resolve to lead the country on path of progress and prosperity.
The newly elected prime minister said that they would strive for a network of health and educational facilities, green revolution, and construction of infrastructure and factories.
To resolve these issues, they would utilize the latest technology and innovations, empowerment of women and loans facilities to the youth bulge, adding that he was hopeful to ensure positive effects of these steps trickling down within one year.
Shehbaz further said that about 500,000 students would be imparted the latest training, besides boosting the artificial intelligence and IT exports.
Farmers’ prosperity was linked with the country’s progress, he said, and announced that fertilizers subsidy would be directly provided to the farmers.
Solar tube wells programme would be launched for the smaller farmers, while seeds mafia would be effaced as the government would import quality seeds, he said, adding that the upcoming government would also work to provide these quality seeds to the farmers for one time free of cost initiative.
He also emphasized to work collectively with the support of all provinces to bring revolution in the agriculture sector under the guidelines of SIFC.
The upcoming prime minister also announced laying of an efficient public transport network through the length and breadth of the country which he viewed as a key of progress achieved by the developed countries.
He said that high achievers and performing children would be provided with the scholarships and their expenditures would be borne by the federal government for their education in the world’s renowned educational institutions.
He also underlined the need for quick and speedy justice system with required reforms in consultations with all the stakeholders.
Shehbaz Sharif announced that those jailed women and children who were not involved in heinous cases and completing their prison terms of less than two years, would be released and trained with skills to become useful citizens of the society.
He lamented that on May 9, unthinkable incidents happened in the country’s history and said that the law would take its course and the responsible involved in those incidents who had hatched conspiracy against the country and its security institutions would have to face it, however, he hastened to add that innocents would be spared.
The upcoming prime minister also announced to completely implement the National Action Plan to end the scourge of terrorism forever.
In a veiled reference to the previous PTI’s government, he regretted that for the personal interests, hardened terrorists were brought back and released from jails; which was the reason for a surge in recent terrorist incidents.
To ensure minorities’ rights, it was their joint responsibility under the principles as laid down by the Holy Prophet (Peace Be Upon Him) and guaranteed by the constitution of Pakistan, he added.
He also reiterated ensuring equal rights to the women who comprised about 50 percent of country’s population, adding the nation stood indebted to contributions and sacrifices of Mohtarma Fatima Jinnah and Benazir Bhutto, as well as other prominent female figures in different sectors as the national progress would not be possible without their involvement.
The newly elected prime minister said that his government would ensure a business friendly environment and would address issues impacting direct foreign investment and tax collection.
He said that mafias indulged in tax evasion should be made to pay taxes, adding that export zones facilities would also be introduced. Shehbaz observed that tax refund delay was a hurdle for the exporters and he would direct FBR to expedite the process, ensuring its payment in ten days.
He opined that promotion of small and medium enterprises (SMEs) was critical for providing jobs opportunities to the rural population and controlling a wave of urbanization.
All the banks would be made to provide loans to the youth to run their small businesses under a similar parameter, he added.
The upcoming prime minister said that investors from the brotherly countries might be provided with visa free entry to encourage investment opportunities, besides work on CPEC projects would be accelerated.
About Pakistan’s foreign policy, he said that they would not become a part of any ‘grey game’, adding that country’s foreign policy would be focused on increasing the number of friendly nations and exploring the prospects for exports.
He said nothing was impossible and with strenuous efforts, Pakistan could become a member of G20 by 2030.
Alluding to the bilateral ties with the US, he said both countries enjoyed historic ties and they would further strengthen them, similarly, efforts would be made to cement ties with the EU, Gulf and neighbouring countries.
He particularly mentioned the Kingdom of Saudi Arabia for the deep affection and fraternal ties the both countries enjoyed and said that they were indebted to their generous assistance.
Shehbaz also appreciated the leadership of UAE, Turkiye and Qatar who always supported Pakistan.
Bilateral relations with Kuwait, Bahrain and Iran would also be further cemented, he added.
About Gaza, he said that gruesome, cruel and gory incidents were heart wrenching which had never been witnessed by the world.
Israeli worst aerial attacks led to unprecedented deaths and carnage and no global institute was able to stop it as the international community was viewing the grave situation as mere spectators, he regretted.
In IOJK, Kashmiris blood was spilled and the international community was silent and everyone knew the reasons, he said and cited precedents of East Timor and Sudan where the world intervened due to obvious reasons.
He asked the opposition to join them in adopting a resolution condemning cruelties and gross human rights violations in Gaza and IIOJK.
Shehbaz Sharif said that climate change was another serious issue faced by Pakistan that was among the worst affected country in the world.
He recounted that during 2023, their government had distributed Rs100 billion rupees among the affectees and commended efforts of former foreign minister Bilawal Bhutto Zardari, Sherry Rehman, Shazia Mari and other relevant former federal ministers.
He also warned the oil mafia to immediately convert their businesses into solar power generation and renewable energy network.
About issue of PTI’s leadership letter to IMF, he said that constitutional remedies were available over the election disputes. But writing a letter to a foreign institution was nothing less than showing enmity with the country, he said, adding that it also manifested that PTI’s leadership had no trust in the national institutions and parliament.
Shehbaz invited the opposition to sit together for the polls system reforms, adding that during 2018 massive rigging was made.
He said after a split mandate and under democratic norms, they had invited the Sunni Ittehad Council to form the government.
In the past, they had supported the former PTI’s government on FATF, Covid 10 and Kashmir issue by setting aside all political differences but they were not reciprocated with the same gestures.
He also appealed to the opposition to ponder over his contentions with cooler mind.
Shehbaz maintained that his upcoming government would address all the issues of Balochistan including missing persons’ issue.
The progress and development of Balochistan province was linked with the rest of the country, he added.
The problems were huge and resources were scant but the people had given the mandate to resolve them, he said, emphasizing upon Quaid’s message of hard work.
He also congratulated the newly elected speaker and deputy speaker and thanked his elder brother Muhammad Nawaz Sharif, former prime minister, who had nominated him for the slot and all the leaders of allied parties for supporting him.
Shehbaz Sharif said that under the leadership of three times prime minister Nawaz Sharif, Pakistan had witnessed vital revolutions as he was a builder of the country.
He also lauded Shaheed Zulfikar Ali Bhutto for laying foundation for the nuclear capable country, saying that the former prime minister was as victim of judicial murder while his daughter Shaheed Benazir Bhutto had laid down her life for the democracy and law and order.
Shehbaz further said that Nawaz’s government was toppled thrice and sent to jail under fabricated cases.
Neither Nawaz nor he, Zardari and other relatives, who were sent to jails, ever talked against the interests of the country.
After Benazir Bhutto’s death, former president Zardari raised the slogan of ‘Pakistan Khappay’ which was the difference the national leadership played for rebuilding of the country, he added.
But on the other side, he said, during the PTI’s government, the entire opposition was sent behind bars. The PTI’s leadership used foul language and spit venom against the country and its institutions and tried to scuttle IMF’s programme.
Shehbaz Sharif said other issues included in energy sector, which itself was burdened with Rs 2,300 billion circular debt while recovery stood at around Rs 2,800 billion with Rs 1,000 billion gap.
About Rs 500 to Rs 600 billion accounted for power theft, whereas the circular debt in the gas sector reached Rs 2,900 billion, he added.
Shehbaz Sharif further said that it was an irony of the fate that the state-owned enterprises (SOEs) were incurring Rs 600 billion deficit annually and cited the Pakistan International Airlines (PIA) which had been suffering from losses to the tune of Rs 800 billion.
He maintained that tax evasion and theft in power and gas were matters of gravity for the country, equating them to ‘a bottomless pit’.
“These challenges are difficult though but not impossible to resolve. It is a thorny journey; full of obstacles but the developed nations had overcome all these obstacles,” he observed, expressing the resolve to lead the country on path of progress and prosperity.
The newly-elected prime minister said that they would strive for a network of health and educational facilities, green revolution, and construction of infrastructure and factories.
To resolve these issues, they would utilize the latest technology and innovations, empowerment of women and loan facilities to the youth bulge, he said, adding that he was hopeful to ensure positive effects of the steps trickling down within one year.
Shehbaz further said that about 500,000 students would be imparted the latest training, besides boosting the artificial intelligence and IT exports.
Farmers’ prosperity was linked with the country’s progress, he said, and announced that fertilizers’ subsidy would be directly provided to the farmers.
A solar tube-wells programme would be launched for the smaller farmers, he said, addding the seeds mafia would be effaced as the upcoming government would import quality seeds, which would also work on an initiative to provide the same to the farmers for one time free of cost.
He also emphasized to work collectively with the support of all provinces to bring revolution in the agriculture sector under the guidelines of Special Investment Facilitation Council (SIFC).
The upcoming prime minister also announced laying of an efficient public transport network through the length and breadth of Pakistan, which he viewed as a key of progress achieved by the developed countries.
He said that high achievers and performing children would be provided with the scholarships and their expenditures would be borne by the Federal Government for their education in the world’s renowned educational institutions.
He also underlined the need for quick and speedy justice system with required reforms in consultations with all the stakeholders.
Shehbaz Sharif announced that those jailed women and children who were not involved in heinous cases and completing their prison terms of less than two years, would be released and trained with skills to become useful citizens of the society.
He lamented that on May 9, unthinkable incidents happened in the country’s history and said that the law would take its course and the responsible involved in those incidents who had hatched the conspiracy against the country and its security institutions would have to face it, however, he hastened to add that innocents would be spared.
The upcoming prime minister also announced to completely implement the National Action Plan to end the scourge of terrorism forever.
In a veiled reference to the previous PTI’s government, he regretted that for the personal interests, hardened terrorists were brought back and released from jails; which was the reason for a surge in recent terrorist incidents.
To ensure minorities’ rights, it was their joint responsibility under the principles as laid down by the Holy Prophet (Peace Be Upon Him) and guaranteed by the Constitution of Pakistan, he added.
He also reiterated ensuring equal rights to the women who comprised about 50 percent of the country’s population, adding the nation stood indebted to the contributions and sacrifices of Mohtarma Fatima Jinnah and Benazir Bhutto, as well as other prominent female figures in different sectors as the national progress would not be possible without their involvement.
The newly-elected prime minister said that his government would ensure a business friendly environment, and address issues impacting direct foreign investment and tax collection.
He said that mafias indulged in tax evasion should be made to pay taxes, adding that export zones facilities would also be introduced.
Shehbaz observed that tax refund delay was a hurdle for the exporters and he would direct the FBR (Federal Board of Revenue) to expedite the process, ensuring its payment in ten days.
He opined that promotion of small and medium enterprises (SMEs) was critical for providing jobs opportunities to the rural population and controlling a wave of urbanization.
All the banks would be made to provide loans to the youth to run their small businesses under a similar parameter, he added.
The upcoming prime minister said that investors from the brotherly countries might be provided with visa free entry to encourage investment opportunities, besides work on the CPEC projects would be accelerated.
About Pakistan’s foreign policy, he said that they would not become a part of any ‘grey game’, adding that the country’s foreign policy would be focused on increasing the number of friendly nations and exploring the prospects for exports.
He said nothing was impossible and with strenuous efforts, Pakistan could become a member of G20 by 2030.
Alluding to the bilateral ties with the United States, he said both countries enjoyed historic relations and they would further strengthen them, similarly, efforts would be made to cement ties with the European Union, Gulf and neighbouring countries.
He particularly mentioned the Kingdom of Saudi Arabia for the deep affection and fraternal ties the both countries enjoyed and said that they were indebted to their generous assistance.
Shehbaz also appreciated the leadership of Unite Arab Emirates, Turkiye and Qatar who always supported Pakistan.
Bilateral relations with Kuwait, Bahrain and Iran would also be further cemented, he added.
About Gaza, he said that gruesome, cruel and gory incidents were heart wrenching which had never been witnessed by the world.
The worst Israeli aerial attacks led to unprecedented deaths and carnage, and no global institution was able to stop it as the international community was viewing the grave situation as mere spectators, he regretted.
In the Indian Illegally Occupied Jammu & Kashmir (IIOJK), Kashmiris’ blood was spilled and the international community was silent, and everyone knew the reasons, he said and cited precedents of East Timor and Sudan where the world intervened due to obvious reasons.
He asked the opposition to join them in adopting a resolution condemning cruelties and gross human rights violations in Gaza and IIOJK.
Shehbaz Sharif said that climate change was another serious issue faced by Pakistan that was among the worst affected countries in the world.
He recounted that during 2023, their government had distributed Rs100 billion among the affectees and commended efforts of former foreign minister Bilawal Bhutto Zardari, Sherry Rehman, Shazia Mari and other relevant former federal ministers.
He also warned the oil mafia to immediately convert their businesses into solar power generation and renewable energy network.
About the issue of PTI leadership’s letter to the International Monetary Fund (IMF), he said that constitutional remedies were available over the election disputes. But writing a letter to a foreign institution was nothing less than showing enmity with the country, he said, adding that it also manifested that the Pakistan Tehreek-e-Insaf ( PTI) leadership had no trust in the national institutions and Parliament.
Shehbaz invited the opposition to sit together for the polls system reforms, adding that during 2018 elections, massive rigging was made.
He said after a split mandate and under democratic norms, they had invited the Sunni Ittehad Council to form the government.
In the past, they had supported the former PTI government on FATF (Financial Action Task Force), Covid-19 and Kashmir issues by setting aside all political differences but they were not reciprocated with the same gestures.
He also appealed to the opposition to ponder over his contentions with cooler mind.
Shehbaz maintained that his upcoming government would address all the issues of Balochistan, including the missing persons’ matter.
The progress and development of Balochistan province was linked with the rest of the country, he added.
The problems were huge and resources were scant but the people had given them the mandate to resolve the same, he said, emphasizing upon the Quaid Azam’s message of hard work.
He also congratulated the newly-elected speaker and deputy speaker and thanked his elder brother Muhammad Nawaz Sharif, former prime minister, who had nominated him for the slot and all the leaders of allied parties for supporting him.
Shehbaz Sharif said that under the leadership of three times prime minister Nawaz Sharif, Pakistan had witnessed vital revolutions as he was a builder of the country.
He also lauded Shaheed Zulfikar Ali Bhutto for laying the foundation for a nuclear capable country, saying that the former prime minister was as victim of judicial murder while his daughter Shaheed Benazir Bhutto had laid down her life for the democracy and law and order.
Shehbaz further said that Nawaz’s government was toppled thrice and he was sent to jail under fabricated cases.
Neither Nawaz nor he, Zardari and other relatives, who were sent to jails, ever talked against the interests of the country, he added.
After Benazir Bhutto’s death, former president Zardari had raised the slogan of ‘Pakistan Khappay’ which was the difference the national leadership played for rebuilding of the country, Shehbaz recalled.
But on the other side, he said, during the PTI government, the entire opposition was sent behind bars. The PTI leadership used foul language and spit venom against the country and its institutions, and tried to scuttle IMF’s programme.
