Country moving in right direction despite Covid-19: PM Imran

ISLAMABAD: Prime Minister Imran Khan tweeted on Thursday that the country is moving in the right direction despite the Covid-19 challenge.

His tweet came against the backdrop of what is being dubbed the full revival of Faisalabad’s textile industry after nearly 30 years.

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On September 14, international business magazine Bloomberg had said that Pakistan’s economy showed momentum after a decline in coronavirus cases in the country.

In a report, the economic journal said that the country was showing signs of business activity picking up at a faster clip, as worries about new COVID-19 infections fade in an economy that contracted for the first time in seven decades.

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“Evidence of momentum returning can be seen from growing cement-to-fuel sales and demand for home appliances to cars.” Cement sales rose 38% from a year ago to 4.8 million tons in July, and near a record level seen in October. A government program to give amnesty to tax evaders, provided they fund construction projects, is expected to fuel activity — and demand for cement — as work resumes after the lockdown.