PM-elect spells out economic priorities; assures nation to achieve prosperity thru untiring efforts.

ISLAMABAD -- Prime Minister-elect Mian Muhammad Shehbaz Sharif Monday announced immediate remedial measures to ensure economic turnaround by stemming the rising tide of inflation and price hike in the country.

Narrating the specific contours of his government's economic priorities in the National Assembly soon after his election to the prime minister's office, he referred to the poor performance of the Pakistan Tehreek-e-Insaf's (PTI) government during the last about four years, and said with mere words, changes could not take place and attempts were made to infuse venom into different strata of society, leaving the economy in a shambles.

He said the country's economic situation was in the dismal situation but now after a change in the government, the stock market was surging.

Narrating the priorities of his government, he said through untiring struggle and unity they would strive to achieve the desired results of economic turnaround, and affordability of commodities of life to the lower segments of the society by saving the stranded boat and steering it to the bank.

Shehbaz Sharif in a sarcastic manner referred to the PTI's tall claims and said practical steps were prerequisite for achieving the ideals.

He regretted that if his idea for the 'pact of economy' was heeded to by the previous ruler, the economy would not have been in such a sorry state of affairs. But the PTI rulers had rejected it out of their haughtiness and arrogance.

The prime minister-elect further said the country was facing a huge fiscal budget deficit, besides the current account deficit. Due to the poor policies of previous government, about 6 million people had been rendered unemployed while millions of others had been pushed below the poverty line, and the commodity prices had reached the unaffordable level.

He said not a brick was laid by the former rulers as they only rejoiced in unveiling the plaques. The debt during the previous government had ballooned to Rs 20,000 billion while the foreign reserves had shrunk. Urea was sold at a high price and the country became an importer of wheat and sugar. The prices of sugar and flour reached all-time high, he added.

Declaring himself as 'Khadim-e-Pakistan', he said through joint efforts and unity they would turn the tides of inflation and poverty through immediate measures.

He...