KARACHI: Comprehensive economic plan and political will was pivotal to regain the country’s lost economic glory, a senior official said.
Addressing as the chief guest at the 18th Annual Excellence Award ceremony of Chartered Financial Analysts (CFA) Society, Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin said that almost all economic indicators were showing positive growth.
When the PTI government came into power there was a large current account deficit and devalued rupee. The government entered into a tough International Monetary Fund (IMF) programme with many conditions, which initially led to slowing down the economy.
Then came the Covid-19 pandemic, which also damaged the economy to some extent, he said, adding that Prime Minister Imran Khan’s visionary idea to impose smart lockdown, which was recognised globally, saved the country from further economic crisis.
Tarin said the prime minister concurrently invested in agriculture, housing, industrial and export sectors. All those areas, which promoted employment in the country and resulted in 3.94 per cent growth last year.
He said to strengthen industry and exports, the government gave incentives to both sectors with prime focus on the IT industry and its related exports.
Besides, the government also was going to give subsidies to the energy sector for its uplifting.
The adviser also highlighted the economic crisis caused by the improper planning and the lack of execution of policies of the previous governments.