Prime Minister Muhammad Shehbaz Sharif reaffirmed the government’s commitment to economic recovery through comprehensive reforms and a merit-based system during his address at the “Uraan Pakistan Summer Scholars Program” on Saturday.

Congratulating the students, whom he called a “galaxy of stars,” he praised Ahsan Iqbal for launching the initiative, expressing confidence that participants would gain insights into governance challenges.

Reflecting on the economic crisis in 2023, the prime minister stated that when his government took office, Pakistan was at a near-default status, with 38% inflation and a 22.5% policy rate. Through persistent efforts, including extensive talks with the IMF, the government averted default, reducing the policy rate to 11% and fostering a better business environment. Sharif credited unified efforts for these gains, noting further potential for economic growth.

The Prime Minister highlighted the “Uraan Pakistan” program’s swift implementation and ongoing Federal Board of Revenue (FBR) reforms, which eliminated corrupt elements and boosted revenue from 12 billion to over 50 billion rupees in one sector.

Addressing broader challenges, PM Sharif noted Pakistan’s population growth—6.1 million annual births—strains infrastructure and education, with 22 million children out of school. He also highlighted the Pakistan Education Endowment Fund’s merit-based scholarships, enabling underprivileged students to excel globally.

On climate change, Sharif lamented Pakistan’s disproportionate suffering despite minimal emissions, referencing the $30 billion loss from the 2022 floods.

He also condemned India’s aggression in the May “Pahalgam incident,” detailing Pakistan’s successful defense, including downing six Indian aircraft, as a testament to national unity and military prowess. Sharif clarified that Pakistan’s nuclear program is solely for self-defense.

Concluding, the Prime Minister urged students to shape Pakistan’s future, emphasizing that investments in youth are vital for national progress. “Pakistan Zindabad,” he declared, wishing the scholars success.