Under the leadership of Prime Minister Muhammad Shehbaz Sharif, Pakistan’s economy has experienced a remarkable turnaround, according to Prof. Cheng Xizhong, Senior Research Fellow at Beijing’s Charhar Institute. Macroeconomic stability has been restored, with inflation dropping from 38% to single digits and foreign exchange reserves exceeding $14.5 billion, signaling a strong economic recovery.
The government has shifted from a consumption-driven growth model to an export-led strategy, implementing tax reforms, restructuring state-owned enterprises, and reducing protectionist barriers. Key sectors such as IT, agriculture, minerals, and digital services have seen significant growth, with IT exports crossing $4 billion, reflecting the effectiveness of this new economic approach.
Prof. Cheng also highlighted Pakistan’s holistic focus on societal and environmental goals, including climate resilience, women’s economic empowerment, and educational reforms. By integrating human capital development with economic policies, the government is building a sustainable foundation for long-term growth while attracting global investors and strengthening Pakistan’s position as a resilient emerging market.
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