Pakistan’s economic recovery pace fastest in subcontinent: PM Imran

ISLAMABAD: Prime Minister Imran Khan on Friday said that Pakistan was moving towards economic recovery faster than any other country in the subcontinent, ARY News reported.    

Taking to the social networking website, Twitter, PM Imran said that the country was successfully heading towards economic recovery despite having to deal with the COVID-19 challenge.

 

MashaAllah Pak moving towards economic recovery faster than any country in subcontinent & this despite having to deal with Covid 19 challenge. LSM’s impressive growth of 7.7% in Sept. Our Industrial Energy Package will help add capacity & raise production.https://t.co/sjRHDxIzwE

— Imran Khan (@ImranKhanPTI) November 13, 2020

Large scale manufacturing (LSM) showed an impressive 7.7 per cent growth in September, the prime minister said, adding, “Our industrial energy package will help add capacity and raise production.”

Read More: Pakistan’s economy shows momentum: Bloomberg

Earlier 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 had said that Pakistan 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.

“Evidence of momentum returning can be seen from growing cement-to-fuel sales and demand for home appliances to cars.”

Cement sales had risen 38% from a year ago to 4.8 million tons in July, and near a record level seen in October.