ISLAMABAD ( WNAM REPORT): Federal Minister for Railways Hanif Abbasi has stated that the PML-N government, under the leadership of Prime Minister Shehbaz Sharif, is tirelessly working for public service and economic improvement. He emphasized the need for all segments of society to unite against those spreading negative propaganda against Pakistan and its institutions. He lauded the role of state institutions in ensuring national security and stability. Effective operations by security forces against internal and external enemies are ongoing, and Pakistan’s sovereignty cannot be compromised. He further stated that the business community is like his family, standing by his side since 1992. He expressed these views while addressing the participants of the Iftar dinner hosted in his honor by Secretary General UBG Zafar Bakhtawari, Zahid Bakhtawari, Abid Bakhtawari, and the Bakhtawari family. In this prestigious ceremony, members of the Punjab Assembly, Raja Muhammad Hanif and Ziaullah Shah; President FPCCI, Atif Ikram Sheikh; President ICCI, Nasir Qureshi; Chairman Founder Group, Tariq Sadiq; Group Leader Rawalpindi Chamber of Commerce and Industries, Sohail Altaf; Council members Abdul Rauf Alam, Khalid Javed, Khalid Iqbal Malik, Zubair Ahmed Malik, and Ijaz Abbasi; former presidents Shakeel Munir and Sardar Yasir Ilyas; President Islamabad Chamber of Small Traders and Small Industries, Owais Satti; Group Leader Rawalpindi Chamber of Small Traders and Small Industries, Malik Shahid Ghafoor Paracha; Group Leader of Chakwal Chamber, Qazi Muhammad Akbar; Chairman Jhelum Chamber, Raji Talat Mehmood; presidents of Islamabad markets, and a large number of business community members participated.
While addressing the ceremony, Hanif Abbasi stated that in February 2024, foreign exchange reserves stood at $4 billion, whereas today they have increased to $16 billion at that time, the interest rate was 22%, but now it has dropped to 12%, and, InshAllah, within the next six months, it will reach a single-digit figure. This year, remittances are expected to reach $35 billion. Exports in the textile and IT sectors have increased, and the inflation rate has been brought down from 38% to 10.5%. Islamabad was provided with its first transport system. These statistics are not ours but have been reported by independent monitoring institutions. The economy is on the path to improvement. The business community should stand with us as our strength to help take the country to new heights of progress. The future of the country is bright. The government and institutions are committed to the national development agenda. A public and business-friendly budget will be introduced in consultation with the trader community. All issues of the business community will be resolved on a priority basis. I am grateful to Zafar Bakhtawari and the entire Bakhtawari family for this Iftar dinner. Zafar Bakhtawari said that Hanif Abbasi is a representative of the business community and has always raised a strong voice in favor of traders. Like a lion, he has consistently supported the business community without concern for any political affiliation. His history shows that he stands by his friends like a rock in every difficult and challenging time. Today’s event is recognition of his dedication and commitment. InshaAllah, with his God-given abilities, he will transform the railway into a profitable institution and strengthen the country’s economy. The fate of the nation can be changed through the railway sector. They expressed hope that the country’s trade and industrial activities would further flourish through the government’s positive policies. Ahsan Zafar Bakhtawari, while addressing, said that it is an honor for us that Hanif Abbasi has been appointed to a federal ministry. We hope that just as you completed the Metro Bus and other projects in record time, you will also help bring the railway out of deficit and turn it into a key contributor to the country’s economy. Credit for stabilizing the national economy must be given to the current government, regardless of political affiliations. With a reduction in markup rates, ease of doing business, improvements in imports and exports, and an increase in remittances, we hope that 2025 will be a year of economic strength. The business community is about to reap the rewards of the challenges faced in recent years. Trade and commerce will flourish. Today, let us pledge that Pakistan comes first. The enemy is always looking for an opportunity to harm us, but our armed forces have always thwarted their attempts. Let us unite to counter the negative campaigns against Pakistan and work together to build a bright future for our country. “We are grateful to everyone for attending this event at our invitation. They expressed hope that the business community and the government will work together to strengthen Pakistan economically.”
