Pakistan Set to Take Off in Agriculture, Industry, Mining, AI and IT: PM Shehbaz Sharif

Davos,
Prime Minister Muhammad Shehbaz Sharif has said that Pakistan is poised for rapid growth in agriculture, industry, mining, artificial intelligence (AI) and information technology (IT), as the government moves forward with complete transparency, institutional reforms and strong civil–military coordination.
Addressing the Pakistan Breakfast at the Pakistan Pavilion on the sidelines of the 56th Annual Meeting of the World Economic Forum (WEF), the Prime Minister said Pakistan’s key economic indicators have shown significant improvement. Inflation has declined from 30 percent to 5.5 percent, while the policy rate has been reduced from a peak of 22.5 percent to 10.5 percent. Tax collection as a percentage of GDP has increased to 10.5 percent, compared to 9 percent a few years ago.
The Prime Minister emphasized the need for export-led growth, noting encouraging performance in agriculture, IT and mining sectors. He said Pakistan’s IT exports have reached $3 billion annually, while agreements and memorandums of understanding have been signed with Chinese and American companies to develop the mining and minerals sector.
Highlighting Pakistan’s international economic engagement, PM Shehbaz Sharif said China remains a strong economic partner, while relations with the United States are being strengthened, particularly in mining, technology, AI and counterterrorism cooperation.
The Prime Minister described Pakistan’s large youth population as both a challenge and a major opportunity. He said the federal and provincial governments are jointly implementing skill development and vocational training programs to empower young people. Training provided under NAVTTC meets international standards, enabling Pakistani youth to secure quality employment in Gulf countries and other regions.
Referring to structural reforms, the Prime Minister said the government has undertaken difficult but necessary decisions, including the transparent privatization of Pakistan International Airlines (PIA), which was broadcast live to ensure public confidence. He said further reforms are under way, including airport outsourcing, power sector privatization, distribution companies and transmission lines.
He added that Pakistan’s strict and sincere implementation of the IMF program has stabilized the economy, and the IMF is now presenting Pakistan’s recovery as a positive example for other countries.
The Prime Minister said loss-making and inefficient institutions such as Utility Stores Corporation, PASSCO and the Pakistan Works Department (PWD) have been closed to prevent the waste of billions of rupees of public funds, despite political and administrative challenges.
Concluding his address, Prime Minister Shehbaz Sharif said Pakistan stands at a critical turning point and is ready for economic takeoff. He stressed that sustained progress depends on unity, institutional harmony and collective effort.
“If we remain committed to selfless sacrifice, tireless hard work and unity of thought and action, there is no doubt that Pakistan will soon achieve its destination of prosperity and development,” he said.