ISLAMABAD: Prime Minister Imran Khan said on Friday that he was seeing a “progressing and industrial Pakistan” in future as the government had managed to handle the issue of foreign debt retirement and costly electricity generation.

“Although we had a very difficult two years during which we didn’t have foreign exchange and couldn’t pay our debts, things are improving (now) as our stock market is going up, tax collection is increasing, our exports are on the rise despite Covid-19 effects and construction industry has boosted up that will benefit 40 other industries and provide jobs,” he said in a televised address to the nation on the occasion of Independence Day.

He said the past two years were difficult for the government and the nation but things were now improving.

The government, the prime minister said, had avoided a huge economic crisis as the country didn’t default [on payments].

However, people had gone through difficult time and the situation was still not easy for them, he said, adding that however the eco­nomy had now started improving.

“Despite the pandemic, our tax collection in June has exceeded our targets and exports have also increased despite the coronavirus crisis that has wreaked havoc on global economy.”

Says govt has reached agreement with IPPs on cheap power production

The prime minister congratulated the nation for coming together and fighting coronavirus and said: “Hardly any other nation has been able to successfully strike a balance between economy and the pandemic. The number of confirmed coronavirus cases has reduced and economy has started an upward journey as well,” he added.

However, Mr Khan said, the battle was not over and again warned the people to continue to follow precautions, the most important and basic of which was to wear a face mask while leaving the house.

In power sector, he said, the government had reached an agreement with independent power producers (IPPs) which would lead to a reduction in the cost of electricity production, thus reducing tariffs. Its benefit would reach the people and industrial sector.

Pakistan’s industries could not compete with other nations of the subcontinent like India and Bangladesh as the cost of production in the two countries was low due to cheap electricity, he said.

On the other hand, he said, Pakistan was facing a huge circular debt because the tariffs were lower than the cost of power generation.

The prime minister said the outdated and inadequate distribution system was one of the main problems in the power sector. He announced that a reform package would be introduced in the coming days to improve the power distribution network in the country by reducing line losses and curbing power theft.

He said the glorious dream of turning Pakistan into an Islamic welfare state would come true where law would be supreme and everyone would have equal rights regardless of their race, caste or religious beliefs.

“Hard work and determination is needed to realise this dream and the government is now working towards fulfilling the vision of our forefathers,” he added.

Expressing solidarity with the people of Indian-occupied Kashmir, the reaffirmed the pledge that Pakistan would continue to extend diplomatic and moral support to the Kashmiri people’s struggle for their right to self-determination.

“Pakistan will continue to raise the Kashmir issue at all forums and will also pray for the residents of the occupied territory,” the prime minister assured the people of India-held Kashmir.

The prime minister also prayed to Almighty Allah for liberation of the Kashmiri people and for their right to self-determination promised by the United Nations Security Council.

Earlier, in a series of tweets, the prime minister felicitated the nation on 74th Independence Day of Pakistan, congratulated the people on fighting Covid-19 and the agreement inked with IPPs for cheap electricity and assured the people of held Kashmir of Pakistan’s support.

Advice to youth

Meanwhile, Prime Minister Khan has advised the country’s youth to adhere to the noble principles of truth, justice and valour, reports APP.

The prime minister shared a famous verse of Allama Iqbal: “Sabaq phir parh sadaqat ka, adalat ka, shujaat ka - Liya jaye ga tujh se kaam dunya ki imamat ka.”

In the verse, the great poet had asked the Muslims to revise the lesson of truth, justice and bravery because they would be entrusted the task of leading the world.

“This was my basic message to youth during the sit-in. Even today, this is a priceless lesson for the young generation,” the prime minister remarked.

Published in Dawn, August 15th, 2020