'Doomsday scenario past us': PM says 'sincere' efforts being made to address economic challenges

Prime Minister Shehbaz Sharif said on Monday that Pakistan faces economic challenges, but the "doomsday scenario is past us," adding that the challenges are being addressed through economic belt-tightening and timely policy interventions.

In a Twitter thread, the premier criticised PTI chief Imran Khan saying that his understanding of the economy and the broader environment in which it operates is quite limited as he has conveniently forgotten his own role in deepening economic challenges.

"From scrapping the IMF deal, he has always wished Pakistan to default, PM Shehbaz said.

He said Imran's politics of "non-stop agitation, long marches, and dharna" has had an adverse impact on the economy in terms of causing political instability.

"Even Pakistani investors would shy away from investing their capital in such an unstable environment deliberately created by Imran Niazi," the premier lamented.

"The terrible events of May 9 alone have cost the economy billions of rupees & are an irrefutable endorsement of his nefarious designs. This is not to mention the plethora of corruption cases he is involved in," he added.

Explaining the government's measures to stabilize the economy, he said Pakistan is working with friends and partners to bridge the financing gaps where needed.

"The real challenge for us is to reduce our dependence on imports and bring down inflation, which is possible when we make exports, investment, and productivity the engine of the economy," he wrote.

"This is where our efforts are headed," the premier stressed.