Islamabad: Prime Minister Shehbaz Sharif in an address to nation said that incumbent government would hand over reins to caretaker set-up in August. Premier's address comes day after Pakistan reached $ 3 billion Standby Agreement with International Monetary Fund. Cash-starved nation received first tranche of $ 1.2 billion earlier.

At outset of his address, PM Shehbaz recalled that he was given "Sacred responsibility" of running country as Prime Minister and has been working for its welfare since April last year. "We will hand over this responsibility in August 2023 to caretaker government."

He recalled that incumbent government, in just 15 months cleaned "Rubble of destruction" caused in last four years. "We cleaned landmines spread in way of Pakistan's interests" and "Doused fire" that erupted because of mismanagement, inefficiency and conspiracy in running affairs of country, including economy and foreign affairs, PM said.

"This brief 1.5-year period was journey from darkness of hopelessness to light of hope, it was beginning of gaining something after losing everything and it was journey of returning towards development from anarchy and chaos.

Journey of government, he continued was that of returning to economic development and providing relief to nation that was stricken by inflation, floods and unemployment.

"This was journey of restoring human dignity, chastity, national self-sufficiency, media and freedom of speech." He said that coalition government was "One of its kind" in Pakistan's democratic history, which was formed for briefest of periods but faced "Toughest challenges and difficulties".

"Thank God, this government had actually set standard and direction that despite lack of time and never-ending difficulties, country can be steered out of crises," he said, adding that this could be achieved through hard work and honesty.

PM Shehbaz said during past few months, government "Sacrificed politics to protect state". "We did not worry about our vote bank but worried about State Bank of Pakistan."

Talking about IMF programme, he said previous government had signed deal but then violated it and pushed country to brink of default. "While we were trying to restore programme, former rulers were busy hatching anti-state conspiracies day and night." PM Shehbaz asserted that despite all roadblocks, his government did not lose hope and successfully reached an arrangement with IMF. "Today, danger of Pakistan's default and their impure wishes have been buried."

During his address, PM also took opportunity to thank Pakistan's brotherly countries such as China, Saudi Arabia and United Arab Emirates for playing "Praise-worthy role" in bringing country out of economic crises.