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PM Khan reveals 4-step strategy for pulling nation out of “quagmire of loans” – Business

Prime Minister Imran Khan on Wednesday revealed his government's four-step strategy to withdraw Pakistan from its "lunar loan of loans".…

Prime Minister Imran Khan on Wednesday revealed his government’s four-step strategy to withdraw Pakistan from its “lunar loan of loans”.

The state minister, while picking up the Pakistani society in Malaysia where he is currently on a two-day official visit, said the government was committed to raising the living standards for poor and displaced social segments by improving governance and ending corruption.

The prime said that the PTI government worked on four priority areas [19659004] Increased exports

The first step towards tearing the country into its chronic loan cycle is to increase exports, Khan says.

“About Malaysia, with a population of 30 million people, exports worth $ 220 billion, but we, with a population of 21

million people have exports worth $ 24 billion, then clearly we’re doing something wrong, said Prime Minister Khan and allow his team to work for a “program to increase exports.”

Sending remittances through legal channels

The second step, the prime minister, was to create legal channels for overseas Pakistanis to send their transfers. He said that

Take a look: PM Khan approves incentives to facilitate remittances from overseas Pakistanis

“Currently, we receive $ 20 billion in transfers, “said the prime minister.” We (the government) believe that if all the money is shipped in transfers [is sent via legal channels] then we will get the least 10-12 billion kronor.

“Right now we face a $ 12 billion deficit. If we begin to receive all our payments [through legal channels] this problem will be solved.”

Also read: “No corrupt person will get NRO, “PM Khan promises in address to the country

To attract investment [19659005]. The Prime Minister also stressed the importance of attracting investment, especially from foreign companies. “We will continue to face a shortage of dollars unless we attract foreign investment,” he warned.

However, he promised “foreign Pakistani” crazy “investing in the country and promised to facilitate them by establishing the management system in Pakistan. He also promised to create an” easy-to-do business “for investors – both foreign and domestic. [19659002] “There will be a designated office in the PM office and the only purpose is to solve any problems facing investors. “

He claimed that former authorities had prevented investors by preventing them from earning profits.” Why would anyone invest in [the country] if they do not earn a profit? “He asked.

” We should help them (investors) to make money, “said the prime minister and reminded that wealth creation helps a country grow.” Mahathir Mohammad (Malaysian Prime Minister) told me 20 years ago when I met him soon after entering the policy. “

Stop money laundering

The last of his quartet of measures to pull the country out of the economic root ended the practice of money laundering. He said that Rs10bn was sent abroad by money laundering every year but assured that every agency in Pakistan now works diligently to make it difficult for people to move money illegally abroad.

“We have signed MoUs (Memorandum of Understanding) with different countries,” he said. details about the money sent abroad illegally. “

Imran Khan said that the latest aid package acquired by his administration through” friendly countries ” just was a temporary solution to Pakistan’s economic misery.

“We have acquired loans from friendly countries to repay installments on loans previously borrowed,” he said. “Even now, we are trying to borrow at least IMF funds (IMF), with whom we are currently negotiating. But this is temporary. This is like treating cancer with Disprin.” [19659002] Imran promises comprehensive reforms: “All politics for the people”

The prime minister also took a jibe on opposition parties and claimed that they were waiting to see the new government fail from the first day.

“That’s what they’re hoping for,” he said. “They are afraid that they know that as long as I’m in power they will be in danger, they know they have to go to prison in a few days.”

“Therefore, everyone comes together to save democracy. It’s not democracy they try to save. They unite to save their thieves.”

“But you will see, for the first time [in Pakistan history]the government will not give someone an NGO or make an agreement called the Charter of Democracy. We will throw each of them in jail. “

The Prime Minister repeated his goal to follow the Madina state model to address Pakistan’s problems and announced that his government will announce a poverty reduction program by the end of the week.

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