Imran Khan says solutions to economic problems linked with rule of law

KARACHI: Former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has reiterated that the solutions to economic problems in the country were linked with the rule of law, ARY News reported on Tuesday.

Addressing a seminar via video link, the former premier insisted on the need to establish rule of law and said the solutions to economic problems were linked with rule of law as it brings progress.

Imran Khan noted that the economy can’t be improved as long as there was political instability in the country. “Investors don’t invest amid political instability,” he said, adding that political stability is only possible with transparent elections.

‘Help from friendly nations’

Recalling the challenges that his government faced, the former premier said when his party came into power, the country’s economy was still in bad shape. “It would have been difficult if it wasn’t for the help Pakistan received from friendly nations,” he noted.

“If we hadn’t received help from Saudi Arabia, United Arab Emirates (UAE), and China, we wouldn’t have had resources for payments,” the PTI Chairman said.

Speaking about the PTI’s management of the COVID-19 crisis, Imran said he was proud of his economic team for how it tackled the issues. “The corona crisis was extremely massive. Had we imposed a complete lockdown during the epidemic, people would have died of hunger,” he added.

“We provided relief to people during COVID-19,” Khan said highlighting that his government made the best decisions during the pandemic.

He said fair and free elections were needed immediately to lift the country out of the current economic turmoil and restore stability and confidence. “A government needs to come with a clear majority so that it can take bold decisions,” Imran added.

‘Oil from Russia’

During his speech, Imran Khan said that his government should have purchased oil from Russia in his tenure. “We should have purchased oil from Russia when we assumed charge of the government,” he said.

“I am sure that we could have convinced the Americans to let us buy cheap oil from Russia,” he said, pointing out that how India made efforts to buy oil from Moscow.

‘The mafias’

The former prime minister claimed that the country was being run by mafias, alleging that the “real estate mafia” was the most powerful one in the country.

He further claimed that the Lahore Development Authority had informed him about the corruption in the real estate sector. “Multiple cases were registered on the issue but the police and government departments were bribed and silenced,” he alleged.

He also criticized the incumbent government over its ‘failed economic policies’, regretting that any new incoming government will need to take “tough decisions” to correct the country’s course

Imran Khan said Pakistan needed to focus on how to attract investment inflows into the country and investors should be especially incentivised.