Nawaz Sharif, a three-time prime minister of Pakistan, addressed the Lahore Chamber of Commerce and Industry, expressing that Pakistan could have progressed further if the policies from the 1990s had been consistently implemented. He noted India’s economic growth by emulating similar policies introduced during his tenure.
Sharif highlighted his government’s efforts to liberalize trade and remove bureaucratic obstacles, contributing to the national economy. He acknowledged the global transition from a controlled economy to a free market system, emphasizing the need for economic relief amidst inflation and poverty.
Discussing past events, he mentioned how the PML-N prioritized Pakistan’s stability in 2022 despite their initial reluctance to form a government. He expressed frustration over facing exile and imprisonment despite contributing to the country’s development.
Read More: Islamabad’s Multibillion-Rupee Projects Are Finally Ready for Heavy Traffic
Sharif highlighted the economic downturn since his government, citing a significant increase in prices, particularly in electricity bills. He also recalled a time when Pakistan ranked 24th globally in the economy, maintaining a stable exchange rate of the dollar.
Regarding decisions like the 1998 nuclear tests, he noted initial trust from Muslim nations but expressed regret over subsequent economic struggles and borrowing. He criticized the current high policy interest rates, questioning their feasibility for business.
Overall, Sharif emphasized the need for revisiting policies to revive Pakistan’s economic stability, attributing the nation’s current challenges to interruptions and poor decisions made after his government’s tenure.
