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ISLAMABAD, (MANEND NEWS): Prime Minister Imran Khan Thursday said that with all major economic indicators showing upward trends, the present government despite various challenges including the COVID-10 pandemic had put the country’s economy on right track.
“During the last three years, the current account deficit has been significantly reduced from US $ 20 billion in 2018 to US $ 1.8 billion, foreign exchange reserves increased from US $ 16.4 billion to US $ 27 billion, revenue collection from Rs 3800 billion to Rs. 4700 billion, workers’ remittances from US $ 19.9 billion to US $ 29.4 billion,” he mentioned.
The Prime Minister was addressing a ceremony held here at the Convention Center to launch the three-year performance report of the present government led by Pakistan Tehrik-e-Insaf (PTI).
He said that when the present government took reign of affairs in 2018, the country with the highest ever US $ 20 billion of current account deficit was close to default and rupee was depreciating.
“If the friendly countries including Saudi Arabia, UAE and China did not help Pakistan, rupee in the country would have further depreciated,” he added.
The Prime Minister also mentioned 18% growth in the Large Scale Manufacturing (LSM) sector as well as 42% increase in cement sale during the previous fiscal and said it showed enhanced industrial activity.
He said that the receipt of an additional income of Rs 1100 billion by the farmers in agriculture sector and the historic sales of motorbikes, cars and tractors during the previous fiscal also depicted prosperity in rural areas.
The Prime Minister said that the government’s successful strategy to deal with the COVID-19 pandemic also led to saving the economy and poor masses, adding, the international institutions including the World Economic Forum and the World Health Organization appreciated Pakistan’s strategy on COVID-19.
He said that despite the criticism by opposition parties, the government did not go for complete lockdown of the economy, which, if opted, would have caused increase in poverty and hunger like in India.
The Prime Minister appreciated the National Command and Operations Center (NCOC) for its timely and effective decisions to tackle the COVID-19 pandemic.