PM Khan speaks of boosting growth

November 14, 2019

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ISLAMABAD: Prime Minister Imran Khan is witnessing signing of tripartite agreement for setting up a Chinese tyre manufacturing plant on Wednesday.
ISLAMABAD: Prime Minister Imran Khan is witnessing signing of tripartite agreement for setting up a Chinese tyre manufacturing plant on Wednesday.

ISLAMABAD: Prime Minister Imran Khan on Wednesday said after achieving economic stability, improvement in current account deficit, appreciation of rupee the government was now focusing on job creation and boosting exports by encouraging foreign investments.

Addressing the Sino-Pakistan Tire Manufacturing Joint Venture signing ceremony between M/s Doublestar MSD Tire & Daewoo Pakistan Express Bus Service at the Prime Minister Office, the premier congratulated his economic team for improving the economy and said: “Due to stability in economy the current account deficit is almost gone, stock market improved and the rupee has gained in value against dollar”.

“Now the government is focusing on creation of job opportunities for youth and encouraging investment,” he said.

He said with a recent World Bank report listing Pakistan at number 6th and 28 points improvement in terms of Ease of Doing Business (EODB), the heads of International Monetary Fund (IMF), World Bank and the Asian Development Bank have also acknowledged stabilisation of economy in the country. “The government is now offering incentives to various sectors including the construction sector,” he said.

Khan welcomed the signing of Pakistan-China joint venture project and said the manufacturing of tyres in Pakistan, besides creating import substitution, will enhance exports of industrial goods and further improve current account deficit.

“With the blessings of Allah Almighty, the country is on the right direction and efforts are being made to create job opportunities and attracting foreign investment through ease of doing business,” he added.

He said that with the strengthened Pak-China relations where the Chinese leadership including President Xi Jinping and Premier Li Keqiang were encouraging the Chinese companies to invest in Pakistan, such joint ventures like tyre manufacturing would further push economic growth in the country.

Published in Dawn, November 14th, 2019