What can the govt do, will have to go to IMF again if exports don’t increase, says PM Khan

Prime Minister (PM) Imran Khan while addressing the inaugural ceremony of the 14th International Chambers Summit 2022 organised by the Rawalpindi Chamber of Commerce and Industry said that tax collection and exports are the main drivers of boosting the economy.

Saying that Pakistan has an “improving economy”, PM Khan said that all economic indicators were showing upward trends despite inherited economic crunch and the impact of Covid-19.

“Will have to go to the International Monetary Fund (IMF) again if we do not enhance our exports,” said PM Khan.

“In the past, no attention was paid to these sectors of the economy which are vital for wealth creation. The exports sector was stagnant in the past, but the incumbent government is providing all facilitation to the exporters,” he said.

“We realise that people are worried, there is imported inflation in our country, dollar rate has gone up due to smuggling of dollar to Afghanistan, still Pakistan is a cheap country, US President Joe Biden has also been criticised by Donald Trump on inflation in the country.”

PM Khan said commodity prices have increased all over the world and Pakistan also imported inflation which hurt its people badly but asked what the government could do in the circumstances.

Claiming that the steps taken by his government to combat coronavirus and keep businesses open were being followed by United Kingdom’s Prime Minister Boris Johnson. “We did not let people die due to Covid-19 and lockdowns,” he added.

The prime minister said corruption would assume the role of cancer. “Corruption is a symptom of lack of rule of law in society. Our fight is for the rule of law in Pakistan. It is a difficult one because of different cartels and mafias which do not want the rule of law,” he said, terming it a jihad against the mafias to secure the future of the country.

Contrary to the claims, Pakistan lost $250m worth of textile exports in December 2021 when the gas supply was suspended for 15 days in the Punjab textile sector. Executive Director of All Pakistan Textile Mills Association (APTMA), Shahid Sattar also confirmed the loss of millions of dollars by saying that it will “never be recovered.”

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