Pakistan’s economy has stabilised : PM
ISLAMABAD: Speaking at the Sino-Pak Tire Manufacturing Joint Venture Signing Ceremony today, Prime Minister Imran Khan spoke about the economy’s positive stabilization and what Pakistan needs to do to improve the economy.
“I’d like to congratulate my economic team. They’ve stablised the rupee. As of now, we are not spending our foreign exchange to stabilise the rupee, in fact, the rupee is at a good market rate and has gained slightly in the last three months,” he said.
He went on to explain that this is a good change. Pakistan’s economy is stable now and it will move forward.
“The best thing for us is that the International Monetary Fund, the Asian Development Bank and the President of the State Bank of Pakistan have themselves endorsed that Pakistan’s economy is headed in the right direction,” he said.
Pakistan has gained twenty-eight points in the Ease of Doing Business index placing it at number six in the world.
The next challenge, he explained, is creating employment opportunities for people. We have been focusing on the construction industry and giving people incentives so that our construction rises.
The government is trying to make it easier for foreign investors to invest in Pakistan.
The PM said he is thankful for Chairman Double Star from China. Tyres will now be manufactured in Pakistan.
Import substitution will take place where goods will be exported rather than imported. This will help increase foreign exchange.
Pakistan’s current deficit account is always at risk; the new policy is to focus more on exports.
Lastly, Imran Khan added that Pakistan’s relations with China are better than before,
“We have to look after our investors and make foreign investment easier. China is giving us that opportunity.”