"We feel a sense of reflection..." Pak PM Shehbaz Sharif remarked on Bangladesh's economic growth; urged to initiate trade talks with India.

by Omkar Mudage / 26-04-2024 / comments

Prime Minister Shehbaz Sharif, grappling with Pakistan's severe economic crisis and facing inflation exceeding 29% in the last fiscal year, engaged in discussions with business leaders during a recent conference. Amidst calls to initiate trade talks with India as a means to alleviate economic challenges, PM Sharif also highlighted Bangladesh's impressive economic progress. He mentioned that Bangladesh, once considered a burden on Pakistan, has now achieved greater economic stability.

Addressing the pressing economic issues, PM Sharif's government aims to secure a new long-term, larger loan agreement with the International Monetary Fund by early July, targeting inflation control and economic stabilization.

On the topic of trade talks with India, tensions arose following India's revocation of Jammu and Kashmir's special status, leading to strained diplomatic relations and a halt in direct trade ties. Despite this, business leaders at the conference urged PM Sharif to consider reinitiating trade discussions with India, emphasizing the potential benefits for Pakistan's economy.

Additionally, the conference reflected concerns over the country's political situation, notably following the arrest of PTI chief Imran Khan. Business leaders urged PM Sharif to seek reconciliation and constructive dialogue even at such levels, advocating for unity and stability.

In his remarks regarding Bangladesh's economic success, PM Sharif indirectly praised the nation's growth, contrasting it with Pakistan's challenges, expressing a sense of admiration and aspiration for similar progress.

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