Govt to stick to 'painful' reforms process, PM Imran assures businessmen in Davos

DAVOS: Prime Minister Imran Khan, addressing prominent business personalities at the Pakistan Breakfast Meet in Davos, said the incumbent government’s first year in power remained remarkably well.

He acknowledged the reforms process is painful and takes time to reverse the rot but assured that his government will stick to it, which he said requires courage and political will to withstand criticism and resistance.

“I see good times ahead for Pakistan as the country is headed in the right economic direction,” Prime Minister Khan said.

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He explained his vision is to turn Pakistan into a welfare state and ensure “inclusive development” as envisioned by the founding fathers.

The prime minister said the incumbent government is using available resources to revive industries by encouraging and giving them incentives. The government wants to promote industrialisation as it will help create wealth and yield more revenue, which would be spent on the welfare of the poor segments of the society, he added.

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The government has rolled out the country’s largest and most comprehensive, ambitious poverty alleviation Ehsaas Programme, for which Rs190 billion has been earmarked, he added.

He said the government reduced the current account deficit by 75  per cent which is a great achievement. This success is now reflected in rupee stabilisation, rising stock market and foreign investment, he noted.

PM Khan said the country possessed the potential to excel given its vast natural resources including those at Reko Dik and the dynamic human resource.