'Pakistan economy not managed properly in the past'

Sun, 11 Apr 2021

'Pakistan economy not managed properly in the past'

ANI
09 Apr 2021, 03:56 GMT+10

Islamabad [Pakistan], April 8 (ANI): As loans worth billions of dollars continue to mount on Pakistan, Prime Minister Imran Khan on Thursday admitted that the country's economy has been mismanaged in the past.

Speaking at an event in Islamabad, the Pakistan PM said such loans were taken in the past which instead of wealth creation further increased the burden of loans, The News International reported.

He said the Pakistan government is focusing on wealth creation projects to retire the country's debt.

Amid the rising number of Covid-19 cases in Pakistan, the Prime Minister on Tuesday had said that his government would approach the International Monetary Fund (IMF) for another relief package to mitigate the impact of the pandemic.

Khan had said his government's "main concern is to lift our people" out of poverty, The Express Tribune reported.

"We are going to speak to IMF because we see disruptions ahead. Just when our economy was recovering and all the indicators were positive, unfortunately, we will have to review the whole situation and our new Ehsaas Program," he said.

Last month, Pakistan had received the third tranche of nearly USD 500 million from the IMF loan program.

"SBP has received IMF tranche of USD 498.7 million (equivalent to SDR 350 million) under the Extended Fund Facility," Pakistan's central bank had tweeted.

The loan was received after the country resumed the USD six billion loan program a couple of weeks ago, which was on hold since the outbreak of the pandemic. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nigeria Sun.

More Information

31 ℃

Partly Cloudy in Cotonou

International

Section

EU report sees majority vaccinated in June, eastern countries later

BRUSSELS, Belgium: The majority of European Union nations will have enough Covid vaccinations to inoculate over 55 percent of their ...

Prince Philip, husband of Queen Elizabeth II, dies at age of 99

Britain's Prince Philip, the Duke of Edinburgh, has died at the age of 99 after seven decades at the heart ...

Catching COVID-19 from surfaces called 'not significant', says CDC

ATLANTA, Georgia: There is no significant risk of catching coronavirus from surfaces, the Centers for Disease Control and Prevention has ...

Yemenis on FBI terror watchlist caught trying to cross into Mexico

WASHINGTON D.C.: Two Yemeni men on a U.S. terror watchlist were arrested earlier this year when they attempted to illegally ...

Attacks on police, a bus hijacking and assaults in Belfast continue

DUBLIN, Ireland - Taoisdeach Micheal Martin says he is deeply concerned about Thursday night's attacks on a journalist and bus ...

Philippines defense minister spars with Chinese over South China Seas

MANILA, Philippines: A top Filipino official has warned of additional moves by the Chinese in the South China Sea."The continued ...

Africa

Section

R10m worth of illegally imported alcohol seized at Northern Cape home

Illicit liquor worth R10 million was seized by police during a raid on a Douglas house in Northern Cape on ...

North West reports outbreak of African swine fever

The North West government has reported an outbreak of African Swine Fever in pigs at a Wilgeboom farm in Potchefstroom. ...

WHO Warns of Rising COVID Cases, Cites Vaccine Complacency

GENEVA - The World Health Organization is warning that COVID-19 cases and deaths are rising globally, partly because of complacency ...

Cricket South Africa agrees to majority independent board

Johannesburg [South Africa], April 10 (ANI): The Interim Board of Cricket South Africa (CSA) on Saturday welcomed the decision taken ...

Three debutants as Proteas bat first in 1st T20 against Pakistan

The Proteas will bat first in the opening T20 international against Pakistan at the Wanderers on Saturday after stand-in captain ...

Hafeez second Pakistan cricketer to play 100 T20Is

Johannesburg [South Africa], April 10 (ANI): Mohammad Hafeez on Saturday added another feather to his illustrious cap as he became ...

Movie Review

Some Like It Hot