The Wait Has Ended

For years, Pakistanis waited. They made sacrifices so that eventually stability could be achieved.  On June 12, 2026, Prime Minister Shehbaz Sharif told the nation that the wait was finally over.

Speaking after Finance Minister Muhammad Aurangzeb presented the federal budget for 2026-27, Shehbaz Sharif made a declared to his people. “I had promised the people that once economic stability was achieved, its benefits would be directly passed on to the common man,” he said. “By the grace of Allah, the time of prosperity has now begun.”

It is an assertion that holds some weight. In 2023, just three years back, Pakistan was on the brink of defaulting on its sovereign debt obligations.

It is a phase through which ordinary Pakistanis were put to test in a way that few other countries have witnessed recently. But they showed grit by not taking to the streets, as one would have thought. Shehbaz Sharif acknowledged this directly. “I thank every citizen of Pakistan from the bottom of my heart who demonstrated patience in the most difficult circumstances, endured hardships and played a full role in achieving economic stability for the country,” he said.

That acknowledgment matters. The resilience of its people is something that governments tend to overlook. The citizens of Pakistan gave the government an opportunity to correct whatever mistakes were made, and in return, they should be able to benefit from it.

The new budget signals that the government intends to deliver on that obligation. The Rs18.77 trillion ($67.49 billion) budget targets four percent economic growth for the fiscal year ahead. Inflation has come down. Foreign exchange reserves have been rebuilt. The economy, while still fragile, is no longer in freefall. These are not abstract statistics. It marks a real change in the economic direction of the country.

The naysayers from abroad have never been convinced of Pakistan’s ability to run its business. The doomsday rhetoric that surrounded Pakistan’s economic situation internationally for both 2022 and 2023 painted Pakistan as an unfixable case. But such an analysis was always too simplistic, as has now become abundantly clear. Pakistan stabilized. It reformed. It managed all of this while not betraying either democracy or its obligations to the international community.

What has been proven by Pakistan in recent years is its institutional capability in the face of crisis. The budget now before the nation represents the next chapter. The focus must shift from stabilisation to growth. Four percent growth is a reasonable target but it must be paired with meaningful relief for the millions of Pakistanis who sacrificed the most during the reform years. Low-income households, small traders and working families cannot be left behind in the prosperity that the prime minister has announced.

Pakistan’s economic recovery is not yet complete. The road ahead requires continued discipline, investment in human capital and a serious push to expand the tax base beyond those who already pay. But the direction is right. The foundations have been repaired.

Prime Minister Shehbaz Sharif told his nation that the time of prosperity has begun. That is a significant claim and it will be tested by events. But considering the position where Pakistan was three years ago compared to where it is now, then this statement holds water. This shows how far Pakistan has actually traveled from what it used to be before. The promise of better days is not rhetorical flourish. It is a milestone that Pakistan has earned.