Pakistan’s economy on right direction after COVID-19: PM

ISLAMABAD: Prime Minister Imran Khan, in a televised addressed to the nation on Independence Day, said the country’s economy was on the path to recovery as Pakistan had the upper hand in tackling COVID-19.

During his address today, Prime Minister Imran lauded the people of Pakistan for taking precautions against the COVID-19, though warning people that the infection had still not been defeated.

He said that he was seeing an “industrial Pakistan” in the future and believed that the country will reach its goals and destination in the years to come.

PM Imran further said that the COVID-19 had affected exports of countries around the globe yet the opposite happened in the case of Pakistan.

He said when the government was elected, there were no foreign exchange reserves, adding that it was difficult to repay loans. The premier assured the people he knew the difficulties they were going through before and currently as well.

PM Imran said “The good news is that country’s economic conditions were improving. The stock market has started performing better due to people’s confidence,” he added.

He informed that a new agreement had been reached with the independent power producers according to which the cost of electricity generation will reduce.

PM Imran said that his government was faced with two issues when it was elected. “One of the problems was of the loans obtained by the past governments and the other related to the power sector”.

وزیراعظم عمران خان کا قوم کے نام اہم پیغام۔ https://t.co/NKuF8LaA1W

— Government of Pakistan (@GovtofPakistan) August 14, 2020

Pakistan’s industries could not compete with the rest of the world as electricity in the country was being produced at a very high rate as Pakistan was buying electricity at an expensive rate and selling it for a cheap rate, he added.

The prime minister shared that the government is also working on bringing a comprehensive plan to stop electricity line losses and theft.

He said that the whole nation is standing with the people of occupied Kashmir and will keep fighting for its people till they did not get the right of self-determination.

PM Imran also appreciated the nation for successfully balancing its fight against the COVID-19 pandemic. He added that people responded positively to actions taken by the government.

He also expressed solidarity with the people of Indian-occupied Kashmir and pledged that Pakistan would continue to extend diplomatic and moral support to the Kashmiris’ struggle for their right to self-determination.

Referring the Independence Day, PM Imran Khan said the day is an occasion to pay tribute to all those sons of the soil who laid their lives while defending and protecting territorial as well as ideological frontiers of the motherland.