Prime Minister Shehbaz Sharif has welcomed the significant growth in the country’s GDP during the first quarter of the current fiscal year saying that we have brought the country back from the brink of default and steered it towards economic stability.
Presiding over the Federal Cabinet meeting, held in Islamabad on Friday, he expressed satisfaction that the privatization of seventy-five percent stake of Pakistan International Airlines was completed very successfully and the bidding process remained quite transparent.
Shehbaz Sharif said we had expressed our resolve since we assumed the power that loss-making State-Owned Enterprises would be privatized and the privatization of PIA is a significant milestone in this regard.
He said the privatization of loss-making State-owned Enterprises is part of the government’s vision of economic reforms.
Recalling his recent meetings with President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, the Prime Minister termed them as extremely useful in the context of bilateral relations and mutual consultations.
Shehbaz Sharif said he had a pleasant telephone conversation with Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman a day ago, in which both sides expressed satisfaction at the pace of economic and strategic relations between the two countries.
The Prime Minister informed the Cabinet that discussions were also held regarding further expanding the scope of these relations.
Shehbaz Sharif also congratulated the members of the Federal Cabinet on the New Year and conveyed his best wishes.
The Federal Cabinet ratified the decisions made in the meeting of the Cabinet Committee for Legislative Cases held on December 30, 2025, including the confirmation of action regarding the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.
The Cabinet also endorsed the decisions made in the meeting of the Cabinet Committee for Legislative Cases held on December 3, 2025.
The Cabinet gave approval to the decisions made in the meeting of the Economic Coordination Committee held on August 26, 2025, which also includes approval of the decision regarding provision of relief to the consumers of electricity distribution companies concerning the Off-Grid (Captive Power Plant) Levy and formulating a strategy in this regard.
The Federal Cabinet, on the recommendation of the Petroleum Division, also approved action for the issuance of a Presidential Ordinance to amend the Off-Grid (Captive Power Plants) Levy Act 2025, regarding the sale of gas to off-grid captive power plants by a third party.
