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November 16, 2019

PM Imran Khan thanks economic team for stabilising economy

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November 16, 2019

ISLAMABAD: Prime Minister Imran Khan has claimed that the country's economy has stabilised with all the economic indicators moving on the positive trajectory.

Speaking at the signing ceremony of Super-6 310MW wind power projects, the prime minister said the rupee is gaining, stock market is showing positive sentiments, and exports are increasing. He thanked the economic team for the achievements.

“The government’s policies are aimed at uplifting the poor segment of the society by creating maximum employment opportunities for people,” the prime minister said.

The premier said there is huge potential of hydroelectricity in the country, but costly electricity was produced through imported fuel. He said that the Super-6 wind power projects will provide affordable and environment-friendly clean energy to the country. Investment on these wind power projects will amount to $450 million dollars. Out of this, 320 million dollars is being arranged by International Finance Corporation, World Bank Group.

Meanwhile, chairing a meeting to review progress on privatisation process, the prime minister said the completion of privatisation on fast track basis will help increase the government's financial resources to start more public welfare projects.

“It will help ensure provision of health, education and other facilities to the people,” said the premier. The prime minister said that increasing the non-tax revenue is among top priorities of the government. He said the privatisation process aims at saving the national coffer from daily loss of millions of rupees besides handing over under-performing institutions to capable people, so that these are fully utilised according to their real potential. Imran Khan rejected the impression that government only wants to get rid of loss-making institutions through privatisation.

The prime minister said running the institutions according to their capacity while saving the national exchequer from loss, getting best results from institutions and overall improvement of the economy is the main soul of privatisation process. He said the privatisation process will help improve the performance of institutions that were not working according to their capacity for the last many years due to lack of attention.

Imran Khan directed that privatisation of all identified institutions be completed in stipulated time frame. He said the government is committed to provide all necessary resources to privatisation division in this regard. The prime minister also directed ensuring dynamic and fullest role of all ministries involved in privatisation of assets and institutions. He said the Prime Minister Office should be continuously updated on progress regarding privatisation process and any hurdle in this regard be removed.

Earlier, in his briefing, Secretary Privatisation Rizwan Malik said those institutions and assets have been included in privatisation process that are burden on national exchequer or performing less than their capacity.

In addition, such public properties have also been included in the process which have not been unutilised for years or are not profitable. The prime minister was apprised that privatisation of various public sector institutions is in last stages and deep interest is being shown internationally in the privatisation of these institutions.

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