PM Imran says stabilization of economy is evident from the fact that the current account deficit has improved
ISLAMABAD: Prime Minister Imran Khan Wednesday said that after achieving economic stability the government was now focusing on job creation and exports’ augmentation by encouraging foreign investments.
Addressing a Sino-Pak Tyre Manufacturing Joint Venture’s tripartite signing ceremony, he said the stability was reflected by improvement in current account deficit, appreciation of rupee as well as positive market sentiments.
The prime minister congratulated his economic team for putting the country’s economy on the path of stabilization.
He said the stabilization of economy was evident from the fact that the current account deficit had improved, rupee had gained its value against dollar over the last three months, and stock market was showing positive sentiments.
The Prime Minister said that with a recent World Bank report listing Pakistan at number 6th and 28 points improvement in terms of Ease of Doing Business (EODB), the heads of International Monetary Fund (IMF), World Bank (WB) and the Asian Development Bank (ADB) have also acknowledged stabilization of economy in the country.
He said that now the government’s focus was on creation of job opportunities for youth and encouraging investment so as to achieve an enhanced and more than projected economic growth rate.
The prime minister, welcoming the signing of Pakistan-China joint venture project, said the manufacturing of tyres in Pakistan besides creating import substitution, would enhance exports of industrial goods and further improve current account deficit.
The improvement in current account deficit would in turn help appreciate the value of rupee and check inflation through decrease in prices of petroleum products, utilities and transportation, he added.