Prime Minister Shehbaz Sharif stated on Friday that the government is focused on implementing economic reforms in the country.

He emphasized that those involved in corruption and negligence will be held accountable. The Prime Minister made these remarks during a meeting of the federal cabinet at the PM House.

He criticized the track and trace system agreement from 2019, calling it a sham that did not bring any improvements in sectors like tobacco, cement, sugar, and fertilizer. He mentioned that the agreement lacked a penalty clause and ordered an inquiry committee to investigate the matter.

Sharif highlighted the government’s efforts in economic reforms, citing positive reports from international financial institutions and journals about Pakistan’s economy.

He mentioned the record-high IT exports, increased foreign remittances, and overall surge in exports, attributing these achievements to the government.

The Prime Minister expressed satisfaction with the country’s macroeconomic indicators and emphasized the need for further work.

He mentioned plans for a ‘major surgical operation’ to address deep-rooted flaws in the economy, including reforms in the power sector and the divestment of distribution companies.

Sharif also discussed the need for modernizing the Federal Board of Revenue’s systems to increase the tax-to-GDP ratio and generate additional revenue.

He stressed the importance of making tough decisions for the country’s benefit and ensuring transparent privatization of state-owned entities.