PM Shehbaz Sharif Says Budget Preparation Faced Challenges, Provinces Assured Full Cooperation

Prime Minister Shehbaz Sharif has stated that the government faced significant challenges while preparing the federal budget, but provinces have assured their full cooperation.

Addressing a meeting of the federal cabinet, the prime minister welcomed all cabinet members and said he had attended the funeral prayers for soldiers martyred in a helicopter crash the previous day. Among the martyrs were Pakistan Army officers, soldiers, and two Christian brothers. He described the helicopter crash as a heartbreaking incident that brought tears to everyone’s eyes, adding that the sacrifices of the martyrs would not go in vain.

He noted that this marks the third budget presented by his government. He explained that taxes had to be imposed in the previous two budgets due to IMF requirements, but over the past two years, inflation has dropped from 38 percent to single digits, although prices rose again due to the crisis in Gulf countries.

Shehbaz Sharif said the State Bank’s policy rate has also decreased from 22.5 percent to 11 percent, adding that despite economic challenges, the economy remains stable today. He mentioned that over the past month and a half, there had been extensive communication with the provinces.

The prime minister said the federal government held meaningful negotiations with the provinces. He acknowledged that “budget preparation faced challenges, but provinces assured their cooperation,” calling it the best evidence of national unity. He added that the government’s team also held talks with the IMF.