Economy on the mend after two difficult years, says PM Khan in Independence Day address

ISLAMABAD: In a televised address to the nation on the occasion of its 74th Independence Day, Prime Minister Imran Khan said on Friday things are now looking up after two “very difficult” years of the PTI government.

He said the economy has improved with the stock market trends showing the confidence of investors and business community, adding the country warded off a huge crisis by not defaulting on debt payments.

Prime Minister Khan said he is well aware of the hardships the people have gone through and are still struggling with. Despite the coronavirus crisis, the country’s tax collection in last two months was beyond target with exports going up, he pointed out.

He congratulated the nation on the successful fight against the coronavirus saying the number of coronavirus cases is on the decline. He said hardly other country was able to strike balance between the economy and pandemic like Pakistan did.

However, he cautioned, this doesn’t mean the fight is over, appealing masses to continue taking precautions, including wearing a mask while venturing out, to control the pandemic.

Expressing solidarity with the people of Indian-occupied Kashmir, he reaffirmed Pakistan’s continued diplomatic and moral support to the Kashmiris’ struggle for their right to self-determination.

In a series of tweets earlier, Prime Minister Khan, congratulating the nation on its 73 years of independence, said: “Our journey towards Quaid’s Pakistan has begun: for Rule of Law with all citizens equal before the law; & towards an Islamic Welfare State, premised on compassion.”

“I congratulate the nation at upturn in our economy after 2 yrs of struggle. Current Account & Fiscal deficits are down; construction industry & throu[gh] it job creation taking off bec[ause] of our special incentives; stock market up; exports & revenues up & cement & car sales up.”

“I congratulate nation bec[ause] we are fixing the damaging structure we inherited in our Power sector.

After long negotiations we have signed new agreement with IPPs which will bring down cost of power generation & reduce circular debt. Next reform target is power distribution system.”