Prime Minister Imran Khan has given a roadmap to ministries and departments of their targets for the next three months and he will himself review performance of every ministry. Addressing a press conference in Islamabad after federal cabinet meeting, special assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said that the prime minister gave directions to all ministries to take maximum efforts to complete public sector development programs of their ministry in next three months.
It is said that the present government of Pakistan has put the country's economy on track, adding that the trade deficit decreased 50 percent. Furthermore, the foreign investment rate has changed dramatically after three years due to the policies of present government and the local currency is recovering due to the government's efforts. She also said reform agenda of the incumbent government is being resisted by status quo people who do not want change in the system, adding that the prime minister reassured the cabinet that government will not back away from reforms agenda as it is agenda for the development and progress of Pakistan.
The government wants to transform challenges into opportunities. The government statistics showed that the growth momentum of the Pakistani economy, at 5.5 percent in FY2018, became unsustainable due to rising macroeconomic imbalances i.e. high and increasing fiscal and current account deficits. The twin deficits always persisted in the Pakistani economy, however, in FY2018 trade deficit was historically high both in monetary value ($ 32 billion) and as a percent of GDP (10.1 percent), while the fiscal deficit reached 6.5 percent of GDP. The contained inflation and maintained exchange rate accelerated the growth in domestic demand.
High consumption expenditure and government...