Photo Credits: Daily Times
ISLAMABAD, Aug 14 (APP): Prime Minister Imran Khan Friday said that despite the COVID-19 pandemic, the country’s economic indicators were improving to herald a better time ahead and paving the way for an industrial Pakistan.
In his message to the nation on the 73rd Independence Day, the Prime Minister shared with the countrymen the glad tidings of improved economic indicators like surged exports, revenue and stock market besides a historic agreement with power producers to bring down the generation cost.
“Thank God, our revenue has started increasing. Despite the coronavirus, our tax collection in July is above the set target. I am looking at even better situation ahead”, the Prime Minister said.
He said that no country had maintained a balance (between lives and livelihood) as was done by Pakistan. He said that initially the government feared for deaths due to both the coronavirus and the hunger caused by the lockdown. However, consequent to the government’s decision of smart lockdown, the coronavirus cases were on a decline and the economy was on revival.
“The war (against coronavirus) is not yet over. The challenge still persists”, the Prime Minister said, advising people to keep adhering to precautions of social distancing to avert the resurgence of the virus.
He said that the journey towards Quaid’s Pakistan had begun featuring rule of law and citizens’ equal rights regardless of their colour, creed or faith and an Islamic welfare state. The prime minister hoped that the country would achieve the great dream of the forefathers if persistent efforts were made.
He told the nation that the first two years of the incumbent government were difficult owing to a huge debt burden, reduced foreign exchange and exorbitant agreements with power producers. He said initially the government was unable to pay back debts owing to low foreign exchange but consequent to the government’s prudent decisions, the default as well as the worst inflation had been averted.
The Prime Minister said that he realized the living conditions of the people but “the good news is that the situation is improving.”
He said that following heavy incentives by the government to the construction industry, the investors’ confidence had revived which was reflected in the record improvement in the stock market. He said the uplift of the construction sector would benefit allied 40 industries to create jobs and wealth and consequently enhancing the government’s tax collection. He said that owing to increased revenue collection, the government was now able to repay debt. Previously, out of Rs 4,000 billion revenue, Rs 2,000 billion went to debt payment forcing the government to get even more loans to run the country’s affairs.
He said that resolving another huge burden on the national economy, the government had finally reached an agreement with power producers to generate power at reduced cost and the benefit would be trickled to the industry and people.
Moreover, as its next target, the government would introduce a package to reform the power distribution system to curb theft and line losses. “The Pakistan which I am foreseeing is an industrial Pakistan that will be able to provide jobs. Insha Allah, we will move in that direction”, the prime minister hoped.
He also assured the people of Kashmir that the whole of Pakistan stood by them. He said that realising the intensity of the Indian repression, Pakistan would continue its moral, political and diplomatic support to the Kashmir people. The Prime Minister also prayed to Allah Almighty for the liberation of the Kashmiri people and for their right to self determination that had been promised by the UN Security Council.
Earlier, the Prime Minister in a series of tweets, highlighted the very positive economic outlook of the country and congratulated the nation on the Independence Day as well as the government’s achievements on different fronts.
He also conveyed his message to the Kashmiri people that the whole Pakistani nation stood by them and “we will provide them with support at all levels as they valiantly fight India’s illegal occupation.”
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