00:00Ladies and gentlemen, Asalaamu Alaikum and a very good afternoon.
00:05Today is not just about launching a reform program, it is about reflection and it is about resolve.
00:15Two years ago, when this government assumed office, the economy we inherited was confronting immense challenges.
00:25Internationally, Pakistan had been sidelined and not part of the main frame of global economic engagement.
00:36Economically, we were struggling.
00:40Inflation was around 30 percent.
00:44Reserves were dwindling and confidence had evaporated.
00:50Institutionally, the state missionary was confused.
00:53And in this array, ladies and gentlemen, I knew, as did my honorable colleagues, that the challenges were immense.
01:05But we also knew, without any ray of doubt, that the task at hand was difficult but not impossible.
01:15This was not the first time a PMLN government had been entrusted with pulling Pakistan back from the brink.
01:24In 1997, we faced economic sanctions and isolation.
01:31Yet, we stabilized the economy.
01:34In 2013, we inherited crippling energy shortages, terrorism and economic stagnation.
01:45But we brought the country back on the track.
01:50And when we assumed office in 2024, we knew exactly what lay ahead of us.
01:57And there was no doubt that restoring Pakistan's economy would demand hard choices.
02:06Choices that would not spare our own political constituency.
02:10And there could be no shortcuts, no populism, no denial.
02:17It was time for an economic crusade.
02:19We took very difficult decisions, guided by our clear purpose to pull Pakistan out of economic crisis
02:31and put it back on a path of stability and gradual growth.
02:38We withdrew unsustainable subsidies.
02:41We initiated long-delayed privatization reforms.
02:47We restored physical discipline.
02:50We strengthened public financial management.
02:55These were long-overdue structural reforms, not cosmetic fixes.
03:03They demanded difficult economic choices, which were totally unavoidable.
03:10Today, the results speak for themselves.
03:14Ladies and gentlemen, over the past two years, Pakistan has made real, measurable progress.
03:22Inflation has fallen dramatically from 29.2% to 4.5%.
03:31Foreign exchange reserves have more than doubled from 9.2 billion dollars to 21.2 billion dollars.
03:44The current account has shifted from a 3.3 billion dollar deficit to 1.9 billion dollar surplus.
03:53When we moved from a primary deficit to a primary surplus, the fiscal deficit has also narrowed.
04:03The tax-to-GDP ratio has risen from around 8% to over 10%, yet still way behind tax-to-GDP ratio in the region.
04:18More than 1 million new taxpayers have entered the formal system.
04:25Tax collection grew by 26% in 2025.
04:30We have digitized government systems at scale.
04:34The e-procurement system, e-pads, now covers over 1,000 federal agencies and more than half a million contracts,
04:45integrated in real-time with FPR, NADRA and SECP.
04:51Recently, we successfully executed the privatization of Pakistan, International Airlines and First Women Bank.
05:01Steps long discussed but never delivered.
05:05And the process of privatization of other important state-owned enterprises are on the way
05:14and the progress is satisfactory and we shall achieve our targets with unwavering commitment in this behalf, God willing.
05:25Ladies and gentlemen, these achievements have been recognized internationally.
05:32Leading credit rating agencies, as we have just observed,
05:36Pakistan's improving outlook and reform momentum is, mashallah, progressing very well.
05:46With macroeconomic indicators now stabilized, our focus shifts to accelerating growth,
05:54expanding exports and making Pakistan a far easier place to do business,
06:00for which we'll have to continue marching in unison with the unwavering commitment and dedication and never looking back.
06:11These economic governance reforms represent the next phase of Pakistan's reform journey,
06:19a shift from crisis management to institution building.
06:23It is an implementation-ready framework that translates our economic priorities into time-bound measurable action.
06:34142 reform actions, 59 priority reforms, 83 complementary actions and 58 implementing institutions.
06:45Ladies and gentlemen, these reforms represent a continuum of progress, embedding stability into institutions,
06:55strengthening credibility and enabling sustainable private sector-led growth.
07:02Alhamdulillah, we have traveled some distance on this long and arduous journey.
07:09The people of Pakistan have paid a very heavy price.
07:13We simply cannot return to business as usual and we shall never look back, inshallah.
07:23We are going to rein in the excess and abuse that nearly brought down our economy and our financial system.
07:32That is our commitment to the people of Pakistan and to Pakistan's future.
07:38That is our commitment to the people of Pakistan.
08:08That is our commitment to the people of Pakistan.
08:23That is our commitment to the people of Pakistan.
08:29Alhamdulillah, first of all, I can say that we have these reforms, deep-rooted structures,
08:43changes, which we have brought to be our homegrown agenda.
08:49We have done our best practices in Pakistan.
08:56International partners have been our best practices and recommendations.
09:01But this is our own agenda which is our own agenda which is not to work without Pakistan,
09:11the economic and economic development of Pakistan, the economic and economic development of the government.
09:16For example, if I say that in the past, the first time of our FBR Digitalization program is
09:26go through enforcement and through legal course
09:53ڈالتوں میں جو دہائیوں سے کیسز لنگر آن ہو رہے تھے اور کلوجن کے
09:59ساتھ دہائیوں سے کیسز چل رہے تھے عربوں کھربوں روپے کے اس ڈیٹ
10:04سال میں چاند سو ارب روپے وصول کیا گئے انفورسمنٹ کے ذریعے چاند
10:09سو ارب روپے وصول کیا گئے جو کہ شاید تاریخ میں پہلی مرتبہ ہے
10:14لیکن میں اس کو کوئی کریڈٹ نہیں سمجھتا یہ ایک ذمہ داری ہے میری
10:19آپ کی ہم سب کی ہم نے قوم کے سامنے جواب دے ہیں ہم اللہ تعالی کے
10:25سامنے جواب دے ہیں کہ اگر یہ ذمہ داری ہمارے کاندوں پر ہے تو اس
10:29کو اسی طرح نبھانا یہ ہم سب کی مشترکہ ذمہ داری ہے میں خطاماً
10:36یہاں پر جرس کروں گا آپ سب نے برچڑ کر اس کے لیے کام کیا ہے چاہے
10:41وہ ڈیپٹی پرائم منسٹر ہیں چاہے وہ فنانس منسٹر ہیں چاہے وہ
10:45پلاننگ منسٹر ہیں یا اکرامیک فیس ڈیویزن کے منسٹر ہیں
10:49چاہے وہ ہماری دوسرے اکنامیک منسٹریز ہیں چاہے وہ ہمارے
10:54ایس ای ایف سی ہے اور ایف بی آر ہے لاو منسٹر ہیں اٹونی جنرل
10:59ہیں اور دوسرے ادارے اور آفیسر اور وزراء میں آپ سب کا میں دل
11:05کی عطا گرائیوں سے شکر گزار ہوں کہ یہ ٹیم ورک کے بغیر یہ کام
11:10ممکن نہیں تھا لیکن اس میں کسی کو کوئی شک نہیں رہنے چاہیے کہ یہ
11:17ایک بہت لمبا اور سخت سفر ہے راستے میں سمندر نماغ چیلنجز کا
11:25سامنا ہوگا اب تک ہم نے جس دل جمعی کے ساتھ جس آن ویورنگ کمٹمنٹ
11:31کے ساتھ ہم نے ان چیلنجز کا مقابلہ کیا ہے اور اللہ تعالیٰ نے ہمیں
11:36کامیابیاں اپنی کمال مہربانی سے اور آپ کی محنت کی بدولت عطا فرمائی
11:43ہیں اگر ہم اس راستے پر اسی مشن اسی کمٹمنٹ اور اسی شوق اور ذوق کے
11:50ساتھ ہم بڑھتے رہیں گے اور خون پسینہ بہائیں گے تو مجھے اللہ تعالیٰ کے
11:57ہم پورا یقین کامل ہے کہ انشاءاللہ کامیابی آپ کے اس قوم کے قدم چومے
12:03گی شرط یہ ہے کہ ہم شبانہ روز محنت کریں اور اگر تھک جائیں تو اور
12:09محنت کریں آپ کا سب کا بہت بہت شکریہ اور یہ ریفارم ایجنڈا اس کو ہمیں
12:16ہوم گرون ایجنڈا کہنا چاہیے جو کہ ہماری ہماری اپنی کاوشوں سے بصیرت
12:23سے اور ہمارے انٹرنیشنل پارٹنرز ان کی مشاورت سے ہم نے بنایا ہے
12:29اس کو انشاءاللہ ہم تیزی سے آگے بڑھائیں گے اللہ تعالیٰ ہم سب کا
12:34حامی ناصر ہو پاکستان پائند آباد
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