Latest news with #Sharif
Business Recorder
15 hours ago
- Business
- Business Recorder
Counterfeit medicines: PM launches drive to eradicate black market
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday launched a bold drive to eradicate the lucrative and deadly black market for counterfeit medicines in the country, calling for urgent adoption of cutting-edge technology to tackle the growing menace. Chairing a high-level meeting focusing on the Ministry of National Health, Sharif made it clear there will be no tolerance for substandard drugs putting lives at risk. He urged pharmaceutical companies to seek accreditation from the World Health Organization (WHO). He said such recognition would raise the quality standards of Pakistani medicines and expand export opportunities. Sharif also directed officials to develop a roadmap for collaboration between welfare organisations and the private sector to improve medical services in Islamabad. He described providing top-quality healthcare to the public as a government priority. The prime minister stressed the importance of third-party validation for medical colleges to ensure high standards of education, warning that no compromises would be tolerated. He reiterated that political interference in health sector reforms would not be accepted. The Health Ministry officials briefed the prime minister on challenges facing the health sector and proposed sustainable solutions. They revealed plans to fully digitalise the registration process for medicines and medical equipment by the end of next month. Additionally, efforts are underway to integrate newly established basic health units, regional blood centres, and the Isolation Hospital and Infection Treatment Centre in Islamabad into the mainstream healthcare system with support from the country's affluent class. In a separate meeting, Sharif reviewed progress on the Jinnah Medical Complex and Research Center project in Islamabad, stressing the need for transparency throughout all stages. He described the complex as a future state-of-the-art hospital that will provide advanced medical services and research facilities to the region. The meeting was told that promotional roadshows had been held in China, Turkey, South Korea, and Singapore, attracting interest from globally renowned companies. Two major conferences related to the project also saw participation from 33 companies across 10 countries. The process to acquire 600 acres of land for the complex is reportedly progressing rapidly, with international advertisements placed to recruit experts and consultants. Copyright Business Recorder, 2025
Business Recorder
15 hours ago
- Business
- Business Recorder
PM heaps praise on World Bank country director
ISLAMABAD: In a sendoff dripping with praise, the World Bank's outgoing Pakistan boss Najy Benhassine on Thursday gave Prime Minister Shehbaz Sharif a full-blown economic endorsement, crediting him with dragging the country back from the economic brink and calling his leadership 'transformational.' During a farewell meeting, Benhassine did not hold back, applauding Sharif and his economic crew especially Finance Minister Muhammad Aurangzeb for steering Pakistan away from a catastrophic default and laying down the yellow brick road to recovery. 'Under Prime Minister Sharif's leadership, the economic team saved Pakistan from the threat of default and set it on the path to stability,' Benhassine said, calling the PM's game plan a roadmap out of ruin. 'Despite daunting challenges, your leadership helped transition the country from crisis to growth.' Top ministers and World Bank brass – including Operations Manager Giles Dragelis – turned the meeting into a full-blown praise parade for Team Shehbaz, hailing their gritty handling of Pakistan's fiscal nightmares. Benhassine, who served through one of Pakistan's rockiest financial chapters, did not forget the 2022 floods, either. 'You worked tirelessly for the relief and rehabilitation of flood-hit communities,' he said, adding that the nation would not forget the government's hustle. Sharif, ever the diplomat, returned the love and praise with gratitude and applause for Benhassine's role in beefing up the World Bank's game plan in Pakistan. 'You played a pivotal role in strengthening the partnership between Pakistan and the World Bank,' Sharif said. 'Your cooperation and dedication will be remembered in kind words by the people of this country.' Sharif chalked up the turnaround to grit, grind, and some serious elbow grease. 'Stability didn't happen overnight, it is the result of tireless work by a dedicated team,' he declared. With heavyweights like Ishaq Dar, Ahsan Iqbal, and Muhammad Aurangzeb in the room, Sharif bid farewell to Benhassine with a hint of sentiment. Copyright Business Recorder, 2025
Gulf Today
a day ago
- Business
- Gulf Today
UAE, Pakistan launch strategic partnership
The governments of the UAE and Pakistan have launched a strategic partnership aimed at modernising government operations, marking a new milestone in bilateral cooperation between the two nations. Shehbaz Sharif, Prime Minister of Pakistan, affirmed his country's commitment to strengthening its long-standing friendship with the UAE and expanding cooperation across sectors. He emphasised Pakistan's intention to benefit from the UAE's pioneering government practices, which have positioned it among the world's most advanced nations in administrative modernisation. Speaking during a meeting with a UAE government delegation, Prime Minister Sharif noted Pakistan's recent reforms, such as advancing digital governance, paperless economic systems, and implementing identity-less customs protocols. He highlighted Pakistan's eagerness to adopt successful UAE models to promote data-driven decision-making and good governance. Sharif recalled his recent visit to Abu Dhabi and his meeting with President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, describing the meeting as 'highly fruitful' and praising the UAE's ongoing developmental support and strategic initiatives in Pakistan. During the visit, Prime Minister Sharif witnessed the signing of a Memorandum of Understanding (MoU) formalising the UAE-Pakistan strategic partnership for government modernisation. Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs, described the partnership as a continuation of the strong bilateral ties established by the late Sheikh Zayed Bin Sultan Al Nahyan. 'Underscoring the commitment of the wise leadership to build upon these strong bilateral relations in a manner that ensures the sustainability of constructive cooperation aimed at promoting prosperity and mutual benefit for the peoples of both friendly nations,' he added. Al Gergawi stated that under the leadership of Sheikh Mohamed and the guidance of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the UAE continues to advance cooperation and strengthen its fruitful and positive partnership with the Islamic Republic of Pakistan. He also emphasised the country's commitment to broadening the scope of collaboration across various fields, in a manner that supports the shared vision and aspirations of both friendly nations. Al Gergawi emphasised that this partnership will enhance bilateral cooperation through the sharing of best practices in governance, public administration, and institutional innovation. The strategic partnership covers a wide range of fields including: Good Governance, Development Planning, Public Sector Reform, Human Capital Development, Urban Planning, and Science and Technology. Through this partnership, the two countries aim to foster mutual learning, institutional capacity-building, and implementation of modern, agile government systems. WAM
Business Recorder
2 days ago
- Business
- Business Recorder
Power sector circular debt plan okayed by Cabinet
ISLAMABAD: The federal cabinet on Wednesday approved the country's largest-ever financial restructuring plan aimed at addressing the long-standing issue of circular debt in the power sector, targeting the elimination of Rs1.275 trillion in circular debt over the next six years. A statement issued by the Prime Minister's Office after the cabinet meeting, chaired by Prime Minister Shehbaz Sharif, said the plan aims to eliminate Rs1.275 trillion in circular debt over six years without adding pressure to the national budget. The cabinet described this as a major milestone towards energy sector reform. The statement said that under the scheme, Rs683 billion in debt held by the Power Holding Company will be refinanced, while overdue payments to independent power producers (IPPs) will be cleared. Power sector debt: Govt secures historic Rs1.275trn loan deal from banks The cabinet described the move as a historic step towards restoring financial stability in the power sector and a key measure to boost investor confidence. It praised the finance minister and the broader economic team for presenting a public-friendly budget for the upcoming fiscal year. During the cabinet meeting, the prime minister expressed deep concern over the escalating armed conflict between Iran and Israel, warning that the situation posed a serious threat to both regional and global peace. While chairing the federal cabinet meeting, Sharif reiterated Pakistan's complete solidarity with Iran and its people against Israeli aggression. He said Pakistan strongly condemned the attacks, which had resulted in the deaths of hundreds of Iranian civilians and injuries to many others. PM Sharif called on the international community to intervene and press for an immediate ceasefire. 'The global powers should ensure a ceasefire,' he said, expressing hope for lasting peace in the region. The prime minister informed the cabinet that he had spoken to Iranian President Masoud Pezeshkian during the crisis to convey Pakistan's solidarity and to condemn the Israeli attacks. He also held discussions with Turkish President Recep Tayyip Erdogan on the evolving situation. Turning to the situation in Gaza, PM Sharif said the suffering there was heart-wrenching and noted that more than 50,000 Palestinians had been killed. 'Brutality is being unleashed. When will the world's conscience wake up,' he asked. Sharif announced that Deputy Prime Minister and Foreign Minister Ishaq Dar would represent Pakistan at the Organisation of Islamic Cooperation (OIC) foreign ministers' meeting in Türkiye on June 21-22. Discussing the recently unveiled federal budget for 2025-26, the prime minister showered praise on Finance Minister Muhammad Aurangzeb, the finance team, and the chairman of the Federal Board of Revenue (FBR) Rashid Mehmood Langrial for consulting allied parties and stakeholders in budget preparations. He said Pakistan had persuaded the International Monetary Fund (IMF) not to impose taxes on the agriculture sector, including levies on fertilisers and pesticides, arguing that the sector was already under pressure. The IMF agreed to the request, he added. PM Sharif noted that individuals earning between Rs600,000 and Rs1,200,000 annually would now pay only 1% in income tax, compared with 5% last year. In a veiled criticism of the previous Pakistan Tehreek-e-Insaf (PTI) government, he said his administration had avoided the policy missteps that had pushed the country to the brink of default. 'We have pulled back the country from a financial fiasco, and now it is moving forward,' he added. He also highlighted the government's increased allocation for the Public Sector Development Programme (PSDP), which had been raised to Rs1,000 billion in the current fiscal year. He said the government had expanded fiscal space to meet the armed forces' equipment needs as part of its ongoing fight against terrorism. He credited the recent great victory in a conflict with India to the professionalism of the armed forces and the support of 240 million Pakistanis. The cabinet approved the appointment of Kamaluddin Tipu as chairperson of the Commission for the Protection of Journalists and Media Professionals, following a recommendation by the Ministry of Human Rights. It also approved an exemption under Section 21 of the Public Procurement Regulatory Authority Ordinance 2002, allowing the National Power Parks Management Company Limited to procure services for the acquisition of the Rousch Power Plant. Additionally, the cabinet ratified decisions taken by the Cabinet Committee on Legislative Cases in a meeting held on 21 May 2025. He commanded Bilawal Bhutto Zardari and his delegation for effectively presenting Pakistan's case against Indian unilateral and illegal aggression during visits to the United States and Europe. Sharif also lauded Chief of Army Staff Field Marshal Asim Munir for affirming Pakistan's resolve to defend its borders and national interests in an address to the Pakistani community in the US. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
PM forms body to promote cashless economy, digitization
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday formed a high-level committee to accelerate the country's transition towards a cashless economy and advance digital financial infrastructure. Chairing a review meeting on promotion of a cashless economy, Sharif said digitisation was among the government's top reform priorities, aimed at eliminating the informal economy and increasing transparency through digital payments and fund transfers. 'To promote a cashless economy, we are taking policy steps to encourage digital payments and money transfers,' he said. 'The federal budget includes proposals aimed at supporting this shift.' Pakistan govt's budget steps may hinder cashless economy drive: TOAP Officials from the Ministry of Finance and the Ministry of Information Technology briefed participants on the progress of digital transformation, including directives issued to traders to adopt digital payments and efforts to promote digital finance at the public level. To drive faster implementation, the prime minister announced the formation of a high-level committee that he will chair personally. The body will meet weekly to monitor developments in digitalisation and financial transparency. Sharif also pointed to the successful use of digital wallets for disbursing financial aid during the holy month of Ramadan. 'Beneficiaries received their entitled aid in a transparent manner without any human interference,' he said. Citing improvements in the country's economic indicators, the prime minister noted that inflation had declined and remittances had increased. He added that a bullish trend in the stock market reflected investor confidence in the government's economic direction. 'By the grace of Allah, the efforts of our economic team are bearing fruit,' he said. The meeting was attended by Finance Minister Muhammad Aurangzeb, Planning Minister Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial, and other senior officials. Copyright Business Recorder, 2025
