Pakistan’s Prime Minister Shehbaz Sharif, during a discussion with business leaders, acknowledged the impressive economic growth of Bangladesh, formerly known as East Pakistan, and emphasized the need to boost Pakistan’s own economy. Speaking at the Sindh Chief Minister’s House in Karachi, the prime minister recalled how Bangladesh, once seen as a burden, has now made significant strides in industrial development.
Sharif’s comments came during an interactive session aimed at addressing Pakistan’s economic challenges. Reflecting on the past, he remarked, “I was quite young when… we were told that it’s a burden on our shoulders…Today you all know where that ‘burden’ has reached (in terms of economic growth).” This acknowledgment underscores Bangladesh’s transformation and could be seen as a call to rejuvenate Pakistan’s economy through similar efforts.
However, the business leaders present raised concerns about Pakistan’s current political instability, notably after the arrest of former Prime Minister Imran Khan. They suggested that Sharif focus on stabilizing the political climate to facilitate economic growth, according to a report by the Dawn newspaper.
Karachi’s business community advised the prime minister to restore political stability to promote economic recovery. They also proposed that Sharif initiate trade talks with India to revitalize economic ties between the two neighboring countries. Trade relations between Pakistan and India have been strained since India revoked the special status of Jammu and Kashmir, leading to a diplomatic fallout and cessation of direct trade.
One business leader, Arif Habib, CEO of the Arif Habib Group, encouraged the prime minister to engage in diplomatic efforts, stating, “I suggest you do a few more handshakes. One of them is regarding trade with India, which would greatly benefit our economy.” He also recommended addressing internal political rifts by reconciling with political figures such as Imran Khan to foster a stable environment.
The business community’s advice underscores the importance of political stability and diplomatic engagement in addressing Pakistan’s economic challenges. Sharif’s acknowledgment of Bangladesh’s growth serves as a reminder that sustained economic progress requires both political and economic reforms.
