The PML-N government has completed its first year, during which the country’s biggest challenge was improving the national economy. The question arises: how has the government performed in this regard?
During the program Sawal Yeh Hai, host Maria Memon played statements from Prime Minister Shehbaz Sharif and Punjab Chief Minister Maryam Nawaz, in which they expressed satisfaction over the country’s economic progress.
On the other hand, former PML-N leaders Shahid Khaqan Abbasi and Miftah Ismail had contrasting views, attributing the reduction in inflation to the decline in petroleum prices rather than government efforts. Senior journalist and well-known analyst Shehbaz Rana provided an in-depth discussion on the current economic situation of the country during the program.
He stated that while both sides presented some truth, it was not the complete picture. Last year, when there were concerns about Pakistan defaulting, the current government managed to curb that risk to some extent by securing a new IMF program.
Rejecting CM Punjab Maryam Nawaz’s statement, he said that the national economy is nowhere near a “take-off” position. Instead, Pakistan is still in the early phase of economic stabilization, and instead of making claims, the focus should solely be on work.
Regarding the economic challenges faced by the government, he pointed out that the first major challenge would be to boost the economy and achieve a growth rate of at least 5 to 6 percent.
The second challenge is facilitating the real estate sector. While the IMF agreement allows for providing incentives to the construction sector, it does not permit any concessions in the buying and selling of plots.
Shehbaz Rana highlighted that the third and most crucial challenge for the government is to focus extensively on increasing exports, as this would provide significant financial benefits to Pakistan.
