ISLAMABAD: Prime Minister Imran Khan described the incumbent government’s first three years as an “economic success tale” on Friday.
The prime minister said Pakistan performed extraordinarily well in tackling the Covid pandemic in comparison to other regional countries while chairing a meeting of the Macro Economic Advisory Group in Islamabad.
He said the national economy kept growing steadily due to the government’s policies of smart lockdown, incentives for the construction industry, social protection programmes, as well as subsidies for industries, small and medium enterprises.
Prime Minister Khan lamented the government inherited a huge circular debt, anti-export policies, unsustainable fiscal conditions, less competitive business environment and policies of lack of incentives for the private sector.
Despite the worst balance of payment crisis in Pakistan’s history in 2018, economic hardships due to the pandemic, high commodity prices in the global market and humanitarian crisis in Afghanistan, he said the growth rate is still expected to be above four per cent, which is a huge achievement.
The prime minister directed the relevant authorities to cooperate and implement long and short-term initiatives to improve macroeconomic conditions and people’s living situations.
The gathering was briefed on the country’s overall economic position, the government’s efforts to offset the consequences of high food costs on the average citizen, and its accomplishments over the previous three years.
