Didn’t know extent of Pakistan's economic problems when I took oath: PM Shehbaz
- Says threat of default was looming on Pakistan while IMF programme was stalled
Prime Minister Shehbaz Sharif said on Monday that he was “unaware of the extent of economic problems facing Pakistan” when he took oath on April 11, 2022.
Speaking to a gathering on his visit to Dera Ismail Khan, he stated the threat of default was looming on Pakistan in April 2022 while the International Monetary Fund (IMF) programme was stalled.
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“When I took oath, I wasn’t aware of the gravity of Pakistan’s economic problems. A threat of default was upon us, while the IMF programme was stalled. We have now averted the risk of default, but still have a lot of challenges to face,” he said.
“We will sail through the economic difficulties,” the PM added.
Shehbaz was elected as the premier by the National Assembly in April following a no-trust motion that ousted Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan.
Meanwhile, speaking about infrastructure projects, PM Shehbaz noted the Islamabad-DI Khan Motorway reduced the traveling time between the two sides from 6 hours to 2-3 hours.
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Now, the government is focusing on construction of DI Khan-Zhob corridor, the PM said.
“Construction of a new airport has also been approved and I congratulate the people for it. We will fast-track its construction and establish a sustainable industrial estate adjacent to it which will make DI Khan a hub of industrial and trade activities,” the PM said.
Talking about the devastation faced by Khyber-Pakhtunkhwa from floods, he blamed “flawed planning” for the damage.
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“Hotels were made in the middle of rivers that were swept away by flood water,” he said. “The effects of the calamity are still visible throughout Pakistan.”
The PM also stated that the government of Pakistan has spent nearly Rs90 billion in flood aid.
During his visit, the prime minister laid the foundation stones of various development projects for South Khyber Pakhtunkhwa, especially the Dera Ismail Khan Division.
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