He was virtually addressing a ceremony in Islamabad today regarding economic reforms.
The Prime Minister said these economic governance reforms represent the next phase of Pakistan’s reform journey, marking a shift from crisis management to institutional building.
He said it is an implementation-ready framework that translates economic priorities into time-bound and measurable actions.
Shehbaz Sharif said that over the past two years, Pakistan has made real and measurable progress. He said inflation has fallen sharply from 29.2 percent to 4.5 percent, while foreign exchange reserves have more than doubled from 9.2 billion dollars to 21.2 billion dollars. He said the current account has moved from a 3.3 billion dollars deficit to a 1.9 billion dollars surplus.
The Prime Minister said the economy has shifted from a primary deficit to a primary surplus, while the fiscal deficit has also narrowed. He said the tax-to-GDP ratio has increased from around eight percent to over ten percent.
He added that more than one million new taxpayers have entered the formal system, while tax collection recorded a growth of 26 percent in 2025. He further said government systems have been digitized.
Referring to the successful privatization of Pakistan International Airlines and First Women Bank, the Prime Minister said the privatization process of other important state-owned enterprises is underway and the progress is satisfactory.
He said these achievements have also been recognized by leading global credit rating agencies.