Pakistan’s Prime Minister Shehbaz Sharif unveiled a raft of populist measures and pushed for the speedy development of a key project under Chinese President Xi Jinping’s Belt and Road Initiative in his first policy speech after getting elected.
Sharif, who has a reputation as a business-friendly administrator, said he wanted to turn Pakistan into a “paradise” for investments to shore up an economy that has come under pressure with declining foreign exchange reserves and a weaker rupee. However, he also announced an increase in minimum wages and planned to raise civil service pensions, warning of big budget and current account deficits this year.
