Never-ending headwinds of political instability created by Imran Niazi damaged the economy & created uncertainty: PM Shehbaz

ISLAMABAD, June 10 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif has said that the making of Budget (Financial Year 2023-24) 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.

In a statement issued on twitter on Saturday, PM Shehbaz Sharif said that 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.

PM Shehbaz Sharif said that the budget (FY23-24) represents the beginning of the process to fix the economy’s long-term ailments. The coalition government has prioritized the right areas that have the potential to spur economic growth, attract investment and make the economy self-sufficient, he said.

PM Shehbaz Sharif said that mindful of the impact of inflation, the government has provided relief to public sector employees and pensioners in the form of pay raise of up to 35% and 17.5% respectively, and increased minimum wage to Rs. 32000.

PM Shehbaz Sharif said that 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” he said.

PM Shehbaz Sharif said that 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. 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, he said.