Prime Minister Shahbaz Sharif called on all stakeholders to come together on a long-term strategy to rebuild the ailing economy on Tuesday, pledging that no future administration will compromise on key national issues.
“Let us sign a ‘Charter of Economy’ for economic stability and progress, and seal it so that whoever will come to power cannot change basic goals,” Prime Minister Shahbaz Sharif said at a day-long pre-budget business conference, emphasizing that the country’s economy could not be streamlined without political stability.
“There will be no economic stability if there is no political stability,” he said at a conference attended by leading businessmen, agriculturists, and economists who offered advice on how to get the country out of its unparalleled economic crisis.
The PM vowed that the ideas presented during the conference would be taken into consideration and that distinct strategies for agricultural, industrial, and financial growth would be developed.
He believes it is past time for the wealthy to make sacrifices and for non-productive assets such as real estate to be taxed.
“Until now, the hard time has been faced by the poor but today it’s the turn of well-off people to take the burden,” he added.
The prime minister also proposed taxing the real estate industry and encouraging vertical housing to save as much land as possible.
He stated that bold decisions were required for the country’s bright future and that one such decision was the construction of huge dams.
The prime minister advised businesses to invest in renewable energy rather than relying on the country’s vast coal reserves for power generation.
He claimed that, unlike the previous administration, the current administration sought to maintain positive relations with all friendly countries.
The prime minister also emphasized the importance of reducing imports while increasing exports, assuring attendees of the government’s full support in expanding local business and eradicating any barriers and red tape.
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