ISLAMABAD: Prime Minister Imran Khan has asserted that with all major economic indicators showing upward trends, the present government despite various challenges including the COVID-19 pandemic had put the country’s economy on right track.
The Prime Minister was addressing a ceremony at the Convention Center today (Thursday) to launch the three-year performance report of the present government led by Pakistan Tehrik-e-Insaaf (PTI).
The premier began the speech by detailing the struggles his government faced on the economic front over the first three years of their mandated five-year tenure, saying he had inherited a country heading towards bankruptcy.
“The last three years were very difficult. The economy was on verge of collapse when we came into power and inherited huge current account deficit of $20 billion,” he pointed out. “We had to go to the IMF and whoever you acquire loan from they set [certain] conditions,” he added.
He further said, “We had no capital to settle loans. We had no foreign exchange. The current account deficit we faced was $20 billion. If Saudi Arabia, China and UAE had not helped us at the time, rupee would have declined further and caused us some real damage.”
Highlighting his government’s achievements, the Prime Minister said his government reduced the current account deficit of $20 billion to $1.8 billion during its three years in power.
Calling his political opponents “mafias”, PM Imran said they were busy in spreading “hopelessness” because they did not want the rule of law to be established in the country. He said his government’s main focus is to root out corruption from the country and hold influential accountable for their actions.
The premier then mentioned the country’s tiff with India in the aftermath of Pulwama incident and thanked the armed forces for their part. “I appreciate our army and air force. As Indian fighter jets came into our territory and launched an offensive, we realised the power of our army,” he added.
“We know the Indian lobby is trying hard to defame Pakistan Army. They are implying that the Taliban won because of Pakistan Army,” the premier highlighted.
He discussed his government’s handling of the coronavirus pandemic, recalling how he resisted the pressure to impose a “blanket lockdown and by the grace of Allah we were protected”.
“The WEF (World Economic Forum) praised Pakistan for its handling of Covid-19, and the Economist [acknowledged] Pakistan for being one of three countries that effectively tackled the coronavirus,” he added.
He also appreciated the NCOC (National Command and Operation Center) team comprising Asad Umar and Dr Faisal [Sultan] fore “taking great decisions so that we survived the worst of pandemic”.
Talking about the country’s economy, he said, “When we assumed power, our foreign currency reserves were $16.4bn and today they are at $27bn. Our tax collection was Rs3800bn three years ago and now it has reached Rs4700bn.
“We witnessed record sales in motorcycles and tractors, while car sales saw an 85pc increase. It means that the people’s lifestyle is improving,” he added.
“NAB (National Accountability Bureau), in its 18 years before we came to power, had recovered Rs290bn and in last three years they recovered Rs519bn. All hue and cry is because of this reason,” he added.
He also mentioned his government’s social uplift schemes such as Kamyab Pakistan and Ehsaas Program, saying that the latter was rated “third-best in the world” by the World Bank. The premier reminded his audience of the efforts made to “empower women” in rural areas and stressed the need to educate women.
Regarding the progress made on construction of dams in his government, the premier said, “Ten dams are being built which will be complete in the next 10 years, while the Mohmand dam will be complete in 2025.”
