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Pakistan

Web Desk
August 14, 2020

PM Imran says Pakistan’s economy improving after COVID-19

Pakistan

Web Desk
Fri, Aug 14, 2020
Prime Minister Imran Khan addressing the nation, on August 14, 2020. — YouTube 

Prime Minister Imran Khan on Friday said the country's economy was on the path to recovery as Pakistan had the upper hand in tackling coronavirus.

“Today the economy is working as well as the coronavirus cases are declining,” said PM Imran, in a televised address to the nation explaining to people why the measures taken by the government to reduce the price of electricity will lead to a significant improvement in Pakistan's economy.

He appreciated the people of Pakistan for taking precautions against the coronavirus, though warning people that the infection had still not been defeated.

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

"The world's exports started to go down, ours increased [during the coronavirus]," he said.

“When the government was formed, there were no foreign exchange reserves. It was difficult to repay loans,” said the prime minister. The premier assured the people he knew the difficulties they were going through before and currently as well.

“The good news is that [economic] conditions were improving. The stock market has started performing better due to people's confidence [in the country] ,” he stated.

New deal with IPPS

During his message, the prime minister announced that a new agreement had been reached with the independent power producers according to which the cost of electricity generation will decrease and so will the circular debt.

PM Imran stated that his government was face with two problems 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”.

The prime minister said that 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".

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

'Nation stands with Kashmir'

While talking about Kashmir, PM Imran 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 lauded the country for “successfully” balancing its fight against the coronavirus pandemic. He added that people responded positively to actions taken by the government.

The prime minister said that Pakistan will struggle for the freedom and right of self-determination for the people of occupied Kashmir as well as pray for them in their time of crisis.