The Prime Minister attributed this success to a combination of targeted measures, including a focus on fiscal discipline, prudent financial policies, and strategic reforms aimed at reducing external deficits
By our correspondent
ISLAMABAD: Prime Minister Shehbaz Sharif has expressed immense satisfaction over Pakistan achieving a landmark economic milestone, with the country recording a current account surplus for the first time in a decade. In a statement issued from Islamabad, the Prime Minister commended the economic team, including Finance Minister Senator Muhammad Aurangzeb and Minister of State Ali Pervaiz Malik, for their diligent efforts in steering the country towards economic stability.
The surplus, which amounted to $729 million in November 2024, reflects a significant turning point for Pakistan’s economy. Shehbaz Sharif hailed this achievement as a beacon of hope, marking a departure from years of fiscal challenges and signaling a brighter outlook for the nation’s financial health. He described it as a testament to the government’s commitment to sound economic management and reform.
The Prime Minister attributed this success to a combination of targeted measures, including a focus on fiscal discipline, prudent financial policies, and strategic reforms aimed at reducing external deficits. He highlighted that the reduction in policy rates, coupled with a steady decline in inflation, had fostered an environment conducive to economic growth. This, he noted, has not only stabilized markets but also renewed confidence among both local and international investors.
Shehbaz Sharif emphasized the broader implications of this surplus, noting that it positions Pakistan favorably in the global economic arena. With increased economic credibility and resilience, the country is poised to attract greater foreign investment and strengthen its standing in international markets. He underscored that this achievement is not just a numerical milestone but a critical step towards long-term economic sustainability and growth. The surplus comes amidst a series of economic reforms implemented under the current government, which has prioritized addressing structural inefficiencies and stabilizing the macroeconomic framework.
While challenges remain, this development is viewed as a significant victory in the broader narrative of Pakistan’s economic recovery. The Prime Minister’s statement also carried a message of cautious optimism, urging continued efforts to sustain this momentum. He stressed the importance of maintaining fiscal discipline and ensuring that the benefits of economic recovery reach all segments of society. For Shehbaz Sharif, the achievement of a current account surplus is more than just an economic metric; it symbolizes the potential for Pakistan to overcome its financial hurdles and chart a path toward sustainable prosperity.
