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Wednesday, November 13, 2024  
10 Jumada Al-Awwal 1446  

Now it’s time for elites to contribute to economy, says PM Shehbaz

At London press conference, he said haves now have duty to support economy
PM Shehbaz Sharif news conference - IMF Agreement - Aaj News

Prime Minister Shehbaz Sharif has said that it was time for elites to contribute to the economy and overcome the burden on the middle and lower classes of the country.

“Haves have to support the economy,” he said while addressing a press conference in London on Saturday where he spoke about his engagements on the sidelines of the United Nations General Assembly session.

The premier has made such statements in the past as well while directing the country’s tax collection authority to bring non-taxpayers into the tax net.

The Federal Board of Revenue sent messages and emails to those who have not filed their returns for their income tax as the September 30 deadline got near. Many experts were sceptical of such a strategy, saying that the authority is issuing warnings to those whose tax has already been deducted from their salaries.

Reports said on Saturday that the FBR’s IRIS system crashed and impacted citizens’ ability to file their income tax returns. Many filers have called for an extension to the deadline, citing the challenges posed by the system’s failure.

On September 25, the International Monetary Fund approved a $7 billion bailout package for Pakistan. The State Bank of Pakistan received a $1 billion IMF tranche on Friday.

At the press conference, the premier said that the IMF programme would not have been possible without the support of Saudi Arabia, the United Arab Emirates, and China.

“I fully thank them for again contributing efforts to bring Pakistan out of the economic crisis,” he said and also praised the country’s economic team, ambassadors, and Deputy Prime Minister Ishaq Dar.

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He further thanked Chief of Army Staff General Syed Asim Munir, saying that it would not have been possible without the army chief’s support and visits to the friendly countries.

“I call it team Pakistan and joint work,” the premier said and expressed hope that it would be Pakistan’s last IMF loan. “Hopefully we will be able to achieve this target.”

While appreciating the Fund, PM Shehbaz said: “We will have to save each penny, cut expenses and provide resources to the people at their doorsteps. This is the time that we have to hard work and promote meritocracy.”

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Shehbaz Sharif

PM Shehbaz Sharif