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Wednesday, May 22, 2024

Prime Minister lauds economic recovery gives directives to pass benefits to common man

In a high-level meeting Pakistani Prime Minister Imran Khan has said that he is pleased with the economic indicators of the country

Prime Minister Imran Khan has called for immediate measures to pass on the benefits of improved economic indicators to the common man.

Chairing a high-level meeting of his economic team in Islamabad yesterday, Prime Minister Imran Khan lauded the improving economic indicators of the country and said that the benefits should reach the common man.

To achieve trickledown economics he asked for immediate measures to be taken.

Read more: Car sales soar as Pakistan’s economy recovers

“The country’s economy is back on track due to the efforts of the present government,” he said, adding that the world also acknowledged Pakistan’s economic achievements amid Covid-19.

The PM expressed relief over the increase in remittances from abroad and their stability at $2 billion per month. He also voiced satisfaction over the growth of the large-scale industry, record performance of the construction industry, and increasing exports of the textile sector.

Large scale manufacturing sector pushing economic indicators

Pakistan’s large scale manufacturing sector has shown positive growth, 5.5%, in this fiscal year.

Despite being lower than pre-coronavirus times, the numbers have shown stability and resilience in the face of the pandemic.

The LSM output increased by 6.66% in October this year.

Read more: US economy shows meek recovery despite Trump’s claims

In separate sectors such as the textile sector, the growth was around 2.4%. In comparison, food and beverages saw an 8.6% increase, petroleum products a negative growth of 1.67%, pharmaceuticals 11.29%, non-metallic mineral products 24.48%, fertilizer 18.5%, and cement 25%.

Imran Khan opined that loans to the youth and the construction sector on easy terms by banks would further strengthen the economy.

“Pakistan has successfully overcome the difficult challenges and is now planning to open new vistas of development.”

A day earlier, PM Khan had stressed the need to promote small and medium enterprises (SMEs) to improve the economic indicators which were already on a positive trajectory. He also directed the officials concerned to achieve at the earliest the targets set for the promotion of SMEs.

GVS News Desk