Iron Brother China stabilised Pakistan’s economy: PM Imran Khan

Gwadar Pro

Islamabad: Prime Minister Imran Khan has said that financial assistance from Iron Brother China stabilized Pakistan’s economy.

Speaking in a live telephonic call session with the general public, PM Khan said China was an example for other countries as they had progressed with a high speed.

“I must acknowledge the help from China. They stabilised our economy. Saudi Arabia has also been helpful,” he said, citing the mega China-Pakistan Economic Corridor (CPEC), soft loans and support against the COVID-19 pandemic.

PM Khan said during the pandemic situation when the whole world was facing financial crunch, the government saved the economy with the help of China and other friends like Saudi Arabia.

Imran Khan said now the rupee had strengthened against the dollar at Rs 152, exports increased by 13.5 percent, the Euro bond helped gain $2.5 billion and revenue of the Federal Board of Revenue (FBR) rose by 11 percent.

Textile and cement industries, he said, witnessed a boom, while the local car manufacturing was recorded at 18 percent. The Karachi Stock Exchange showed bullish trend by 66 percent increase as per Bloomberg and the information technology exports increased by 44 percent.

Prime Minister Imran Khan said with solid steps, the government had achieved remarkable economic growth in diverse sectors.

Through reforms, the economic losses of public corporations had been reduced from Rs 286 billion to Rs 143 billion, whereas the current account deficit remained in surplus for the last 10 months and the foreign exchange reserves increased to $15.6 billion

Imran Khan said Pakistan had immense potential in the agriculture sector and the government would announce reforms every two weeks aimed at introducing advanced growing modes and by directly facilitating the farmers.

He mentioned that 65 percent of farmers in the country owned less than five acres land and the government wanted to help them through incentives such as Kisan (farmer) Card and subsidy.

The private sector will be involved on technique learning of farmers and seed development, he added.

In view of increase in population, he said, the government had started thinking of a long-term food security plan, including increased production of wheat and milk.

The prime minister said an additional Rs 1,100 billion was given to farmers in lieu of direct subsidy on seeds and fertilizers, which resulted in high production of sugarcane and corn by 22 and 27 percent respectively.

Imran Khan appealed to the nation to follow precautions to contain the spread of the third wave of coronavirus, particularly during the Eid holidays.

“I request you to follow Standard Operating Procedures and particularly use face masks. Take care of your elderly so as to avoid lockdown,” he said.

To a question on reduction of timings in bazaars that led to more crowd, he said the schedule could be reviewed in consultation with National Command and Control Centre (NCOC).

He said Pakistan was working on producing its own COVID-19 vaccine and said “good news was in this regard is in the offing”.

The Prime Minister will hold the next live telephonic interaction with public after Eid.