Prime Minister Shehbaz Sharif has stressed for joint efforts to ensure export-led growth to put the country on the path of development, progress, and prosperity.

Chairing the 11th meeting of the Special Investment Facilitation Council in Islamabad today, he said economic and political stability are interlinked for export-led growth.

The Prime Minister further said the government is working on a substantial decrease in the prices of electricity to achieve this objective. He said the enforcement of laws is vital to enhance revenue collection and prevent massive leakages in the taxation system.

Shehbaz Sharif said economic development is not possible without ensuring peace and security. He said, unfortunately, terrorism is surging again in the country and joint efforts of the federal and the provincial governments are needed to eliminate the scourge of terrorism. He commended the sacrifices of the armed forces and other law enforcement agencies in fighting the menace of terrorism.

Highlighting the government’s efforts to attain macroeconomic stability, the Prime Minister said inflation reduced to 4.1 percent after 2018, while remittances grew by 34 percent in the last five months. He said exports are on the rise and foreign exchange reserves surged to 12.5 billion dollars from four billion dollars. Similarly, the Pakistan Stock Exchange shows the most bullish trend in its history.

Shehbaz Sharif said rice exports reached four billion dollars, while around half a billion dollars are expected from sugar exports. He said the export of sugar became possible due to the crackdown on smuggling to Afghanistan and the surplus sugar was exported.

The Prime Minister also congratulated all the people who played their role in forging a peace agreement in Parachinar.

Earlier, Shehbaz Sharif welcomed the participants and extended his best wishes on the occasion of the New Year.