PM-elect spells out economic priorities; assures nation to achieve prosperity thru untiring efforts

  ISLAMABAD:Prime Minister-elect Mian Muhammad Shehbaz Sharif Monday announced immediate remedial measures to ensure economic turnaround by stemming the rising tide of inflation and price hike in the country. Narrating the specific contours of his government’s economic priorities in the National Assembly soon after his election to the prime minister’s office, he referred to the poor performance of the Pakistan Tehreek-e-Insaf’s (PTI) government during the last about four years, and said with mere words, changes could not take place and attempts were made to infuse venom into different strata of society, leaving the economy in a shambles. He said the country’s economic situation was in the dismal situation but now after a change in the government, the stock market was surging. Narrating the priorities of his government, he said through untiring struggle and unity they would strive to achieve the desired results of economic turnaround, and affordability of commodities of life to the lower segments of the society by saving the stranded boat and steering it to the bank.Shehbaz Sharif in a sarcastic manner referred to the PTI’s tall claims and said practical steps were prerequisite for achieving the ideals. He regretted that if his idea for the ‘pact of economy’ was heeded to by the previous ruler, the economy would not have been in such a sorry state of affairs. But the PTI rulers had rejected it out of their haughtiness and arrogance. The prime minister-elect further said the country was facing a huge fiscal budget deficit, besides the current account deficit. Due to the poor policies of previous government, about 6 million people had been rendered unemployed while millions of others had been pushed below the poverty line, and the commodity prices had reached the unaffordable level. He said not a brick was laid by the former rulers as they only rejoiced in unveiling the plaques. The debt during the previous government had ballooned to Rs 20,000 billion while the foreign reserves had shrunk. Urea was sold at a high price and the country became an importer of wheat and sugar. The prices of sugar and flour reached all-time high, he added. Declaring himself as ‘Khadim-e-Pakistan”, he said through joint efforts and unity they would turn the tides of inflation and poverty through immediate measures. He said during 1974, late Zulfikar Ali Bhutto had laid the foundation of nuclear deterrence, and Mian Nawaz Sharif had refused 5-billion-dollar aid and conducted the nuclear tests, thus making the country’s defence impregnable. Through 18th Constitutional Amendment, powers were devolved to the provinces, he added. Such historic feats were achieved through sheer struggle and solidarity among the ranks of the nation, he said and assured the nation that through the joint efforts by all the allied parties, they would reset the tune of the economy left in shatters by the PTI’s government. The prime minister-elect further said that for the first time in the country’s history, a vote of no-confidence motion was succeeded, which was triumph of the virtue and defeat of the vice. “It was a memorable day for the whole nation, as a selected prime minister was shown the door,” he said. Shehbaz Sharif said the news of rupee gaining ground in a single day against US dollar as it was being traded at Rs 182 and the bullish trend in the Pakistan Stock Market were the good omens for the country’s economy, he added. Linking change in the government, he said it was a great blessing of Allah Almighty and the confidence of 220 million people in this House of Parliament. Expressing gratitude to the Supreme Court, he said it had declared the abrogation of Constitution as illegal and buried the ‘doctrine of necessity’ forever. With the unanimous decision of the apex court, he said the supremacy of the Constitution was upheld. Shehbaz strongly denounced the PTI’s campaign against the political adversaries and said none in the House was a traitor. He said they did not believe in a deadlock but in the process of dialogue and assured to pacify and alleviate the grievances of the backward areas.