As a result of the Special Investment Facilitation Council’s initiatives, Pakistan’s exports rose by 14% at the beginning of the fiscal year.

In August 2024, exports increased by 620 million dollars to 5.1 billion dollars, according to the Pakistan Bureau of Statistics. As of the start of the fiscal year 2024–2025, the trade deficit has dropped by 4.2% to 3.6 billion dollars from 3.751 billion dollars.

August saw a 1.3% year-over-year decline in imports of high-duty products, such as automobiles, appliances, and consumer goods.

The government is attempting to stabilize the economy and increase exports with the help of SIFC. Through increasing exports and innovation, a new trade liberalization plan seeks to foster economic growth.

In appreciation for their collaboration on government matters, Prime Minister Muhammad Shehbaz Sharif hosted a luncheon on Monday for lawmakers from different political parties.

He emphasized that the government’s successful economic policies were demonstrated by the inflation slowing down to 9.6% in August 2024.

“It is good news for the country that the economic experts are predicting further decline in the inflation rate this month,” he stated, bringing up the fact that in 2018 they had left the government with a single-digit inflation rate.

The prime minister credited the country’s economic growth to the measures taken by his previous administration in April 2022 to prevent the nation from going into default. Through their efforts, the economic team was able to stabilize the economy and set it on a path of growth.

Members of the government’s affiliated parties from the National Assembly and Senate were present at the event.

Assuming the role of Khadim-e-Pakistan, the prime minister stated that he had pledged to the people that he would do everything within his power to alleviate their concerns.

He said that the country could not flourish to its full potential if the average person’s life was not made easier, even as the benefits of economic changes were beginning to trickle down to the populace.

The prime minister stated that the administration was taking action to give the lowest-income groups in society the most assistance possible with relation to the power tariffs.

According to him, the government offices had begun the process of right-sizing and downsizing in order to cut costs.

In order to lead the nation out of its economic predicament, the prime minister stated that cooperation across all parties is necessary, even as she emphasized the importance of political stability and policy continuity.

He also denounced the unsuitable language that last night’s political party leaders employed.

He stated that although terrorism had been virtually eradicated in the nation under the direction of former prime minister Nawaz Sharif, it was regrettably making a comeback in some regions of the nation. Still, he swore to remove the threat once more.

Restoring global peace and addressing new global concerns have prompted Pakistan to demand more efficient United Nations peacekeeping.

During the security council’s open discussion on UN peacekeeping operations, Pakistan’s Permanent Representative to the UN, Ambassador Munir Akram, made the request.

According to him, a number of intricate and novel difficulties that stem from various sources have raised the profile of UN Peacekeeping.

The African Union is among the organizations ready to take on more forceful operations to ensure peace, and Ambassador Munir Akram has called on the international community, particularly the United Nations and the Security Council, to offer their full support to them.

Along with this, he reiterated Pakistan’s commitment to bolstering and improving UN peacekeeping efforts, especially in areas like South Sudan, the Democratic Republic of the Congo, and the Central African Republic.

As part of a larger endeavor to tackle the changing difficulties of peacekeeping and peacebuilding, he said.

Increased focus on supporting community-based peace efforts at the grassroots level is necessary to curb violence, according to Ambassador Munir Akram.

Localized peace agreements can have a major good impact, as demonstrated by the efficacious endeavors of Pakistani Peacekeepers in Abyei, he claimed.

Pakistan is dedicated to tackling the present peacekeeping issues, he said, and has a long history of participating in UN peacekeeping missions.

During its two-year term on the UN Security Council and Peace Building Commission, Pakistan will also actively participate, according to Ambassador Munir Akram, at the next ministerial preparatory meeting in Islamabad.