Information minister says economy is biggest challenge.

ISLAMABAD -- The Pakistan Tehreek-e-Insaf (PTI) government inherited a fragile economy, therefore stabilising it remains the key focus of the current government for ensuring sustainable growth, said Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain.

Addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI), he said, 'The government is facing no challenge on the political front, however, the economy happens to be its main challenge and the economic team is making efforts to make Pakistan self-sufficient instead of depending on foreign borrowings.'

Quoting numbers, he said that when the PTI took over, the country required $12 billion to avoid default and due to the efforts of the government, Pakistan has been saved from the crisis.

The minister shared that the government's strategy was to promote exports, discourage imports, broaden tax net, curb money laundering and promote remittances through banking channels.

He lauded that Pakistan possesses the potential to receive $40 billion in annual remittances and the government was focusing on encouraging remittances through legal channels. 'The previous government spent $7 billion to keep rupee overvalued, which destroyed the...