PM resolves to steer country out of current economic woes

News Image

MG News | June 21, 2022 at 04:39 PM GMT+05:00

0:00

June 21, 2022: Prime Minister Muhammad Shehbaz Sharif Tuesday said that they had inherited severe economic crises from the previous government, but with hard work and dedication, the collation government would steer the country out of the current challenges.

Speaking to media after chairing a meeting of the federal cabinet, the prime minister, in an apparent reference to the Pakistan Tehreek-e-Insaf government, said that it had left behind a backlog of worst and faulty economic policies, tainted with poor performance.

Criticizing his predecessors, he said the previous government reduced petroleum prices at the time of their exit from power corridors which smack of conspiracy and based upon ill-will.

“If they had any concerns and felt pains for the people, they ought to leave behind a precedent of serving the masses by providing any relief, so that it can be said that they had worked for the people,” the prime minister regretted.

The prime minister said that these were hard times, and they had taken difficult and bold decisions and hinted that if required in future, they would take such like steps for the economic turnaround.

“We will not budge from taking the necessary steps to set country’s economy on the right track with hard work and nation’s prayers,” he stressed.

The coalition government was determined to steer the country out of the current economic crises by striving day and night.

Expressing his optimism, the prime minister said it was his strong conviction that the good times were in store for the country.

About the International Monetary Fund (IMF) agreement, the prime minister observed that the previous PTI’s government had promised to increase prices and impose taxes, but they retracted and violated the pact which they ought to abide by.

He said that due to such ploys by the previous government, today, the country was facing difficulty with the IMF.

He also mentioned that global economic situation was complicated as the prices of petrol and grains were spiraling.

The government had decided to increase prices of petroleum products with heavy heart, he said, adding, under a decision in the budget, about 70 million people were being provided financial support worth millions of rupees through activation of a helpline.

The prime minister further explained that in the budget, they had decided to divert burden from the poor and levy tax upon the wealthy people.

He expressed the confidence that the affluent and wealthy class would pay taxes and offer sacrifice for the country and nation.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 156,141.25
402.82M
-0.56%
-879.55
ALLSHR 95,433.78
1,276.96M
-0.13%
-122.91
KSE30 47,720.53
104.52M
-0.75%
-359.88
KMI30 228,800.05
155.94M
-0.85%
-1950.51
KMIALLSHR 64,161.33
636.77M
-0.34%
-216.11
BKTi 42,161.63
42.84M
-0.43%
-180.91
OGTi 31,833.74
12.98M
-1.66%
-536.11
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,755.00 115,195.00
113,590.00
780.00
0.68%
BRENT CRUDE 66.31 67.62
66.15
-1.18
-1.75%
RICHARDS BAY COAL MONTHLY 84.50 0.00
0.00
0.00
0.00%
ROTTERDAM COAL MONTHLY 93.00 93.00
92.30
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.31 63.80
62.21
-1.36
-2.14%
SUGAR #11 WORLD 15.80 15.99
15.72
-0.13
-0.82%

Chart of the Day


Latest News
September 11, 2025 at 06:10 PM GMT+05:00

Car sales rise 62% in August 2025


September 11, 2025 at 06:04 PM GMT+05:00

Govt reviews food stocks, plans measures to curb inflation


September 11, 2025 at 05:54 PM GMT+05:00

Pakistan's Forex Reserves Increase by USD 21.40 Million


September 11, 2025 at 05:51 PM GMT+05:00

PRL accepts Zahid Mir’s resignation as CEO


September 11, 2025 at 05:44 PM GMT+05:00

PSX Closing Bell: Back to the Red



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg