China would preserve Pakistan from default even if there is no IMF agreement, according to PM Shehbaz

Prime Minister Shehbaz Sharif stated that Pakistan has successfully complied with all of the strict requirements imposed by the International Monetary Fund (IMF) during his address to industrialists and businessmen in Karachi on Friday. He also emphasized the government’s commitment to completing the IMF programme. He also voiced his displeasure with the FBR chairman and emphasized the need of political stability for the development of a nation.

According to Shehbaz Sharif, China has shown assistance by refinancing its commercial debt, demonstrating the friendly nations’ commitment to Pakistan’s development. He said that friendly countries have favorable feelings about Pakistan, which reflects their shared desire to see the country flourish.

The premier emphasized how the previous administration had broken the terms of the IMF deal. When we took government, there was already inflation in place and it was continuing to rise. Political unrest has persisted in the nation for the last twelve months. The problem of inflation has been made worse by the current instability, which has further led to price increases.

Sharif emphasized the importance of investors who voluntarily take on risk and invest in Pakistan, seeing them as representatives of the nation. While voicing his displeasure with the FBR Chairman, he emphasized the critical importance of political stability to the development of any country.

He praised the businessmen who, despite obstacles and challenges, had made significant contributions to advancing Pakistan’s textile and leather industries.

The textile industry, which accounts for 60% of all exports and employs 40% of the labor force, would get full assistance, said PM Shehbaz, in order to grow this industry.

The Prime Minister said, “Pakistan is committed to following and implementing all requirements of international organizations like the International Labour Organization.”