The Minister for Federal Education and Professional Training, Shafqat Mahmood, said that the incumbent government has stabilized the economy, increased exports, enhanced foreign exchange reserves, and has significantly shrunk the current account deficit.
While speaking at the Lahore Chamber of Commerce and Industry’s Achievement Award ceremony, he said that the economy was in shambles when Pakistan Tehreek-e-Insaf formed the government three years ago.
Minister Mehmood explained that the economy was in dire straits, the country was under heavy debt, the current account deficit had ballooned, exports had dropped, and the rupee was kept at a certain level through artificial means. He said that the PTI government had to seek loans from friendly countries and the International Monetary Fund.
He added that the government has kept the economy floating despite the widespread attack of the coronavirus, and had achieved economic growth of four percent and taken the exports to $25.3 billion, foreign remittances had gone up to $30 billion, and Federal Board of Revenue had collected revenue of more than Rs. 4700 billion last year.
Minister Mahmood declared that textile, construction, and other sectors of the economy are progressing, and Prime Minister Imran Khan’s government has successfully managed the pandemic while protecting the lives and livelihoods of the poor.
He stated that the government had initiated a program for youth skills development, with an amount of Rs. 10 billion. About 50000 young Pakistanis are being trained in cutting-edge information technology, including Artificial Intelligence, Big Data, Internet of Things, and Cyber Security.
The minister said that youngsters with prior learning and experience are being given certificates from accreditation institutes.
He added that the government is revamping the accreditation institutes to allow them to certify manpower in the skills required by the industry and businesses.
Minister Mahmood congratulated the winners of the awards and emphasized that Pakistan’s progress depends on strong industry and economy.