PM Says Pakistan’s Economy Is Heading In Right Direction

(@fidahassanain)

PM says Pakistan’s economy is heading in right direction

The PM has explained the nation why the measures taken by the government to reduce the price of electricity would lead to a significant improvement in Pakistan's economy.

ISLAMABAD: (UrduPoint/Pakistan Point News-August 14th, 2020) Prime Minister Imran Khan said that there would an “Industrial Pakistan” in the years to come, hoping that the country would reach its goals and destination in future.

The PM also explained the nation why the measures taken by the government to reduce the price of electricity would lead to a significant improvement in Pakistan's economy. He expressed these views in a video message on tv channels on Friday.

“Country’s economy is working as well as the coronavirus cases are declining,” said PM Imran while appreciating the people of Pakistan for taking precautions against the Coronavirus. He also warned people that the infection had still not been defeated.

PM Imran said that the coronavirus had affected exports of countries around the world yet the opposite happened in the case of Pakistan.

“Our export increased when the world’s export went down during the global pandemic,” said the PM, pointing out that there were no foreign exchange reserved when the government was formed.

“Replaying loans was very difficult,” said the PM. He also said that the PM assured the people who were facing difficulties at the moment and before due to Covid-19..

“Economic conditions are improving which is a good news,” he said further, adding that stock market started performing better due to people's confidence.

Prime Minister Imran Khan expressed satisfaction that the country's economy was heading in the right direction with improvement in revenue collection and exports.

The Prime Minister said they had given unprecedented incentive package to the construction industry which would help uplift forty other allied industries.

Imran Khan said the tax collection during the last month remained more than the target and hopefully the collection will further improve in the coming months.

The Prime Minister said the country has successfully coped with the threat of Covid-19.

He said the challenge is still not over and the people should continue to follow the precautionary measures to avoid the spread of the virus.

Referring to the power sector, the Prime Minister said we were generating expensive electricity due to the agreements signed in the past.

This, he said, also resulted in increase of circular debt.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.