Iron Brother China supported Pakistan’s economy in difficult time: Pakistani Minister

Gwadar Pro

Islamabad: Pakistani Minister for Federal Education and Professional Training Shafqat Mehmood has said that Iron Brother China supported Pakistan’s economy in a difficult time in the recent years.

Speaking here at the Achievement Award ceremony of Lahore Chamber of Commerce and Industry (LCCI), Mahmood reminded that three years back the economy was in shambles.

“We took seek loans from friendly countries and International Monetary Fund (IMF). China helped us a lot,” he remarked.

The minister recalled that despite the widespread attack of coronavirus the government kept the economy floating and last year achieved economic growth of four percent, took the exports to US $ 25.3 billion, foreign remittances went up to US $ 30 billion and the Federal Board of Revenue (FBR) collected revenue of more than Pakistani Rs 4700 billion.

“Textile, construction and other sectors of the economy are moving forward and the government led by Prime Minister Imran Khan has not only successfully managed the coronavirus pandemic but also protected lives and livelihoods of poor people,” Shafqat Mahmood stated.

The minister told the gathering that the government had initiated a programme of youth skills development with an amount of Rs 10 billion. “About 50000 youth are being given training in cutting edge information technology including artificial intelligence, big data, internet of things and cyber security. Now youth with prior learning and experience are being given certificates from accreditation institutes,” he added.

Mahmood mentioned that the government stabilized the economy, increased exports, enhanced foreign exchange reserves and significantly shrank the current account deficit.

He claimed the economy was in a dire state, the country was under heavy debt, current account deficit had ballooned, exports had dropped and the rupee was kept at a certain level through artificial means when the present government started the revival process.

The government, he pointed out, was revamping the accreditation institutes so that they could certify manpower in skills which were required by the industry and businesses.

The minister congratulated the winners of the awards and said progress of the country was dependent on strong industry and economic.