KARACHI: Advisor to Prime Minister on Finance and Revenue Shaukat Tarin on Friday asserted that almost all economic indicators were showing positive growth despite challenges.
The finance adviser expressed his views while addressing as a chief guest at 18th Annual Excellence Award ceremony of Chartered Financial Analysts (CFA) Society at a local hotel in Karachi.
Referring to the “destabilised” economy, the finance adviser pointed out that a comprehensive economic plan and political will were pivotal in order to regain the country’s lost economic glory.
“When the PTI government came into power there was large current account deficit and devalued rupee,” he said, adding that the government entered into a tough IMF program with many conditions which initially led to slowing down the economy.
Tarin also blamed the COVID-19 pandemic for “damaging the country’s economy to some extent”. However, he said, Prime Minister Imran Khan’s visionary idea to impose smart lockdown which was recognized globally saved the country from further crisis.
Shaukat Tarin further said the Prime Minister concurrently invested in agriculture, housing, industrial and exports sectors. “All those areas which promoted employment in the country and resulted in 3.94 growth last year,” he added.
He also said the government to strengthen industry and exports government gave incentives to both sectors with prime focus on IT industry and its related exports. Besides, the government also was going to give subsidies to energy sector for its uplifting.
Advisor to PM also shed light on the economic crisis caused by the improper plannings and no execution of policies of previous governments. Talking about the petroleum prices, he said that the petrol price would have been Rs 180 if the government withdrawn subsidy.
Tarin said that the petrol levy has been reduced by Rs9 as the petrol was not being produced in the country but was being imported. “A subsidy of 450 billion has been given on petrol so far”, he claimed.
