ISLAMABAD (Dunya News) – Prime Minister Shehbaz Sharif announced that more than one million new taxpayers have been added to Pakistan’s tax system, calling it a major step toward financial stability and stronger national revenue.
He made the remarks while speaking at the launch ceremony of economic governance reforms in Islamabad, alongside Finance Minister Muhammad Aurangzeb. The PM said that today is not only the beginning of a reform programme — it is also a moment to reflect and renew commitment.
Shehbaz Sharif said that when his government took office, it inherited an economy drowning in challenges and uncertainty. “The economy was in hot water, but despite the odds, we steered it back on the right track,” he stated.
He highlighted that Pakistan recorded strong economic progress over the last two years. He recalled how in 1997, the country faced sanctions and global isolation. Inflation, which had reached nearly 30%, has now dropped sharply from 29.2% to 4.5%, he added.
The Prime Minister further shared that Pakistan’s foreign exchange reserves have risen sharply — from $9.2 billion to over $21.2 billion. The current account, once showing a deficit of $3.3 billion, has now flipped to a surplus of $1.9 billion. He added that the tax-to-GDP ratio has increased from 8% to above 10%, with more than one million new taxpayers joining the system.
He said tax collection saw a remarkable 26% increase during 2025. Difficult but necessary decisions such as privatization were taken — including the successful privatization of PIA and First Women Bank.
Calling reforms the “need of the hour,” Shehbaz Sharif noted that international credit rating agencies have acknowledged Pakistan’s economic progress. “Results speak louder than words — the reform journey is moving in the right direction,” he said, adding that the Federal Board of Revenue (FBR) has been digitized for the first time.
Despite facing one challenge after another, he said the government was able to pull the country back on track. “This could not have happened without teamwork — no one can move mountains alone,” he added.