Prime Minister Imran Khan said Friday 2020 would be the year of growth for Pakistan, with special focus on the tourism industry, especially considering that the country was recently named the top destination for travellers.
Speaking at the Pakistan Stock Exchange (PSX) Top 25 Companies Awards event, the premier said the need of the hour was to incentivise the industries, help the business community, and focus on the small- and medium-sized businesses.
He added that his adviser on finance and revenue, Dr Abdul Hafeez Shaikh, informed people about the ruling Pakistan Tehreek-e-Insaf’s (PTI) efforts made to bolster the economy. “The current account was in deficit, the foreign exchange reserves had depleted, there were no dollars, there were debts worth Rs10 billion to be repaid, and a serious risk of default,” he said.
“All those who understand this issue know what would have happened [in case of a default] and we have seen that happening in the Latin American countries and Lebanon.
“Thank God that the rupee has become stable [and] the investor confidence returned. 2020 will be the year of growth and we will incentivise the industries, help our business community, and focus on the small- and medium-sized businesses,” he added.
The PM noted that his team discussed the economic issues and efforts with State Bank of Pakistan Governor Dr Reza Baqir and his adviser commerce, textiles, industries, and investment, Abdul Razak Dawood, and talked about measures that would help the small and medium businesses.
“The interest rate is high right now but InshAllah [God willing], it will come down,” he said. “We have to help investors, help businesses, and focus on job creation.”
