PM Khan blames previous govt for creating ‘economic mess’

Prime Minister Imran Khan on Tuesday addressed the Future Investment Initiative (FII) conference in Saudi Arabia and highlighted some of the key challenges facing his government and his plans to tackle them.

“Whatever reforms we do today the impact will be in three months, six months or a years time. Right now we need loans to go through this difficult period of repaying or servicing our debt for our imports,” the premier said while speaking about Pakistan’s current economic situation. “Right now we are talking to the International Monetary Fund and also to friendly countries,” he added.

Stating that his government has been in power for 60 days, the premier said, “The immediate concern for our government is to increase our exports so we can bolster our foreign exchange reserves.”

Warning that the next three to six months will be difficult for Pakistan, PM Imran said, “Our institutions were destroyed as corrupt people were in top positions but we are taking measures to increase exports.”

“Pakistan’s strength is overseas Pakistanis and we have to make conditions favourable for them to invest in the country,” he said. The premier announced, “We are working to create a favourable environment for investment in the country and will introduce a one-window operation for it.”

“We need to increase foreign reserves with remittances from the 8 to 9 million Pakistanis working abroad, need to give incentives to exporters and create opportunities for investment,” he added.

He also asserted, “We need to clamp down on money laundering and are taking measures.”

Speaking about his Naya Pakistan Housing Programme, PM Imran said, “There is a need for 10 million houses in Pakistan and we have embarked on a programme to build 5 million houses in the initial phase.”