PM says 'charter of economy' only way forward to achieve prosperity

ISLAMABAD:  After the government presented FY2023-24 budget, Prime Minister Shehbaz Sharif said on Saturday that a “charter of economy” was the only way forward for the political leadership to achieve prosperity for the Pakistani people, ARY News reported.

“The economy direly needs reforms, which, in turn, can be undertaken in a stable political environment, for economic development is intrinsically linked to political stability,” PM Sharif said on Twitter.

“It is here that the Charter of Economy appears to be the only way forward for our political parties to achieve prosperity for our people.”

The prime minister said the making of budget (FY2023-24) was particularly a difficult task in view of the persistent challenges arising out of the floods-related relief and rehabilitation, global supply chain disruptions and geostrategic upheavals.

“Never-ending headwinds of political instability created by Imran Niazi damaged the economy and created uncertainty, as the country remained on the boil for well over a year,” he regretted.

The making of Budget (FY2023-24) was particularly a difficult task in view of the persistent challenges arising out of the floods-related relief & rehabilitation, global supply chain disruptions & geostrategic upheavals. Never-ending headwinds of political instability created by…

— Shehbaz Sharif (@CMShehbaz) June 10, 2023

The premier said he is mindful of inflation’s impact. He highlighted that the government had provided relief to public sector employees and pensioners with a pay raise of up to 35% and 17.5%, respectively, and increased the minimum wage to Rs32,000.

“A more balanced budget that levies no new tax could not have been possible within the existing constraints. I commend all those who remained part of this exercise and played their role in this budget-making exercise,” the prime minister said.