ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Tuesday emphasized the need for global solidarity and shared progress while outlining Pakistan’s economic reform efforts during his address at the Ninth Edition of the Future Investment Initiative (FII9) in Riyadh.
Sharif opened his remarks by expressing gratitude for the invitation and praised the leadership of Saudi crown prince. “I’d like to congratulate my very dear brother, Crown Prince Mohammed bin Salman, for this wonderful event which symbolizes his leadership and his vision to transform societies like he has done in Saudi Arabia,” he said.
The prime minister highlighted Pakistan’s economic journey since independence, acknowledging past missteps while reaffirming the country’s commitment to change.
“We have made very honest mistakes and we have learned from our mistakes,” Sharif said. “Important thing is to learn from your mistakes. That’s what we are doing.”
He noted Pakistan was currently implementing “robust changes and deep-rooted reforms,” including digitization of the Federal Board of Revenue and strong action against corruption. “Rome was not built overnight,” he added, emphasizing that structural reforms take time.
Sharif also pointed to Pakistan’s large youth population, nearly 60% of citizens, as both a challenge and an opportunity. “We are offering them training, skill training… for productive employment,” he said.
However, Sharif said Pakistan continues to face significant climate vulnerability, despite contributing “less than a fraction of one percent” to global emissions.
Recalling the devastating 2022 floods and subsequent disasters, he said the country suffered $130 billion in economic losses. “Large swathes of our land was under water. Crops were destroyed. Millions of houses were destroyed,” he said.
He argued that repeated reliance on loans to rebuild is unsustainable. “Loans over loans, loans over loans, your back will break and you will never be able to stand up,” Sharif said. “This is not acceptable.”
Calling for collective global support, Sharif said climate-affected nations must not be left to recover alone.
“If humanity has to move forward, it has to move forward in unison,” he said. “Share modern technologies with those countries which can use those technologies and grow their production.”
Despite the challenges, Sharif closed on a message of resolve.
“We are resolved by the grace of God,” he said. “We will turn Pakistan as one of the most going countries through hard work… and make our country stand in the community of nations like a very honorable country.”
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