Pak PM urges businessmen to help govt overcome challenges

Prime Minister Shehbaz Sharif on Friday urged businessmen to help the government in overcoming the multiple challenges facing the country and take lead in creating jobs and enhancing exports.

Speaking to a gathering of businessmen and investors, he said Pakistan was faced with multiple challenges and the economy could only make progress in the presence of political stability.

He said that the common man wanted facilities of health and education, service delivery and resolution of everyday problems.

He said in the last one year inflation went high in the country and at the international level, adding the inflation was acutely high even when he formed the government a year ago.

He pointed out that political instability was the cause of present difficult economic conditions.

The last government broke agreement with the International Monetary Fund (IMF) and then the country was devastated by the biggest climate-induced floods of the century, he mentioned.

The prime minister said the federal government spent Rs 100 billion — Rs72 billion through the Benazir Support Programme and Rs20 billion through the National Disaster Management Authority — for rehabilitation of flood affectees besides the billions of rupees spent by provincial governments for the same purpose.

Another reason of economic hardship was the rise in international oil prices and the substantial increase in the oil import bill, he remarked. During the Covid pandemic, he said the gas prices were low in the international market but the previous government did not sign agreements for the purchase of gas.

Shehbaz said that the International Monetary Fund imposed stringent conditions for its loan programme and still his government met all of those conditions and many friendly countries came forward and bridged the financing gaps faced by Pakistan without putting any conditions.

Talking about political situation, he said in the last one year the country had seen political instability and division in every section of society, which had shaken the foundation of Pakistan and a particular mindset was created which was harmful for the nation. — app inaugurates Textile Expo. — app