Economic situation cannot improve without political stability: Imran Khan

KARACHI: PTI Chairman Imran Khan has said that the economy cannot recover without political stability and the only solution is through conducting elections.

Addressing a seminar on investment via video link, the former prime minister said the economic situation was still at its worst when they came to power in 2018.

He said the biggest problem always lies with the current account deficit as the country failed to generate wealth while other countries became ‘Asia Tigers’. He said the previous governments never paid any attention to increasing exports which led to the dismal economic situation.

The former minister said the first year of their government was tough and the economy would not have become stable if they had not received support from friendly countries such as Saudi Arabia, UAE, and China.

He said that there was immense pressure to impose a lockdown during the coronavirus crisis. He said the government was in dilemma with the economic and health crisis and he even faced stringent criticism for not imposing a lockdown.

He said the government took the bold decision to remain open or the people would starve as the economy was already stalled. The PTI chief said he managed to convince the IMF and global financial institutions to provide relief to the masses to deal with the situation.

Imran Khan said they also received incentives from the IMF for the construction and agriculture industry to stabilize the economy. He said in the third year of their government, they managed to recover from the dual economic and coronavirus crisis.

He said when the regime change conspiracy was taking place, he instructed then finance minister Shaukat Tarin to tell the economic managers that the economy was in a fragile situation and the downward spiral will not be controlled.

“Those brought in our place destroyed the economy. Without political stability, the economy cannot recover,” he said while taking jibe at the current government.

Imran Khan further said there is uncertainty while he had already predicted months ago that the current government will lead the country towards default. He said the only solution to end the political crisis is to bring economic certainty and increase investor confidence.

“The only way to improve the situation is through conducting elections. The economy will not improve until the political crisis persists,” he maintained.

He expressed concern that the current government may lead the nation to the point of no return. He said they will work for the revival of the economy will they come to power and fight economic challenges.

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