Shehbaz Sharif Speech: PM vows to lead Pakistan out of current crisis

Shehbaz Sharif Speech: PM vows to lead Pakistan out of current crisis

The newly elected Prime Minister of Pakistan Shahbaz Sharif during his first address said that if we decide together, we will give Pakistan its rightful place and the task is difficult but not impossible.

Shahbaz Sharif, while delivering his first speech in the National Assembly after being elected as the Prime Minister, said that his speech today was due to Allah Almighty.

He started his address with the holy name and then he congratulated the Speaker, Deputy Speaker, and the entire House.

READ MORE: Shehbaz Sharif elected as Prime Minister of Pakistan for second consecutive time

PM Shehbaz congratulated Nawaz Sharif for nominating him for this position. He thanked Bilawal Bhutto, Khalid Maqbool Siddiqui, Chaudhry Shujaat, Salik Hussain, and Abdul Aleem Khan for their vote.

We have to make revolutionary changes in the system now, he said.

The newly elected Prime Minister said that under the leadership of Nawaz Sharif, development and prosperity prevailed in Pakistan.

He said load-shedding ended in the era of Nawaz Sharif, who laid the foundation of nuclear power in Pakistan. Benazir Bhutto Shaheed sacrificed his life for democracy, law, and justice.

He said that Nawaz Sharif and my niece went to jail, Asif Zardari’s sister went to jail, and Benazir Bhutto was martyred. Nawaz Sharif has never thought of speaking against the interest of Pakistan except by talking against the interest of Pakistan. This is the difference that the national leadership played in the history of Pakistan.

Shahbaz Sharif said that our opposition leadership has used words that cannot be put into words, poison has been directed against Pakistan, poison has been directed against the forces of Pakistan.

Pakistan under alarming debt crisis

While addressing the newly-elected National Assembly, PM Shehbaz said that big challenges are pricking the nation like a thorn, first, we need to understand the challenges.

On the subject of excessive electricity rates, Shehbaz said that the circular debt (electricity) stands at Rs23,000 billion, with just Rs28,000 recovered for Rs38,000 of electricity delivered to users.

“There is a Rs1,000 billion shortfall, which is equivalent to almost $3.5 billion. “Can this country afford careless governance?”

“I would call it a ‘bottomless pit’,” he remarked, criticizing electricity theft that costs up to Rs500 to 600 billion every year.

Meanwhile, he noted that the gas sector’s circular debt has reached a staggering Rs29,000 billion as a result of expensive LNG imports, theft, and distribution system concerns.

Furthermore, he emphasized that in this budget period, the total minerals are estimated to be 12,300 billion rupees. After the distribution to the provinces under the NFC award, only 7,300 billion remains. The remaining 7,300 billion is only for interest.

The payment is 8 thousand billion, that is, a deficit of 700 billion from day one. If there is a deficit of 700 billion, where will the money for development projects come from?

So from where will the salaries of the government officials be paid, for the last several years everything has been done with loans, he added. Our goal is to secure G20 membership by 2030, Shehbaz said.

“Women are to be given equal pay as men,” he stated, addressing society’s prevalent gender-based inequality. Banks would be directed to allocate loans to the younger generation, he continued, while also stating that the government would hold the Federal Board of Revenue (FBR) accountable if tax refunds were not provided within 10 days.

Shehbaz elaborated on his foreign strategy, saying that the government will not allow Pakistan to become a “great game” player. The administration would preserve friendly relations with surrounding countries based on the idea of equality.

He also announced the introduction of visa-free entrance to Pakistan for people of fraternal countries.

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