Pakistan Prime Minister Shehbaz Sharif on Thursday said that the $1 billion loan from the IMF is not Pakistan’s earned income but borrowed funds and expressed hope that this would be country’s last IMF programme in history.

According to a Geo News report, Sharif said that countries do not progress through International Monetary Fund (IMF) programmes, emphasising that the stability that Pakistan requires has already been achieved.

“We must transform this debt-ridden existence into a life of dignity and honour through skill and hard work,” Geo News quoted Sharif as saying.

PM Shehbaz also committed to cutting government expenditures while significantly investing in the training of the younger generation, asserting “we will dedicate billions and even trillions for their future.”

The prime minister noted that during his tenure as chief minister of Punjab, he distributed 400,000 laptops to high-achieving students in schools and colleges.

“This was the vision I worked hard for,” he was quoted as saying.

He emphasised that the youth of Pakistan represent both a challenge and a significant opportunity.

“If we provide training of information technology and artificial intelligence (AI)-led modern technology, they can contribute a lot for the development and prosperity of Pakistan,” Geo News quoted Shehbaz as saying.

With inputs from agencies