ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday assured that concerns over the International Monetary Fund (IMF) rejecting Pakistan’s proposal to lower electricity prices have been addressed.
Speaking at a federal cabinet meeting, he revealed that IMF Managing Director Kristalina Georgieva expressed willingness to consider Pakistan’s power tariff reduction plan if formally presented.
During his recent visit to Dubai, the prime minister discussed economic and investment opportunities with UAE President Sheikh Mohamed bin Zayed Al Nahyan, accompanied by Army Chief General Syed Asim Munir. He also met the IMF chief, highlighting the impact of high production costs on industrial growth. “We conveyed to the IMF that economic expansion depends on reducing production costs,” Shehbaz said, adding that the lender responded positively.
He further noted that the IMF acknowledged the government’s economic reforms, prompting the cabinet to applaud its achievements.
Commitment to Saudi Arabia and Gaza Crisis
On foreign relations, Shehbaz reaffirmed Pakistan’s unwavering support for Saudi Arabia, calling it a “trusted brotherly nation” and assuring backing for its sovereignty and security.
Addressing the humanitarian crisis in Gaza, he condemned the killing of over 50,000 Palestinians, describing it as “genocide at its worst” and expressing hope for peace.
