Tough economic decisions have started showing results, Azhar says

Federal Minister for Economic Affairs Hammad Azhar on Sunday said that the tough economic decisions taken by the incumbent government have started showing positive results, Radio Pakistan reported.

The economic affairs minister, while addressing a news conference in Lahore, said that the economy has achieved stabilisation and will now transition into a growth phase.

Talking about economic stability, he said foreign exchange reserves are now stable and the rupee-dollar exchange rate is also stabilising.

He said that the PTI government had inherited a massive debt and had to fulfill immediate commitments of more than $10 billion in loan repayments and interest.

The minister held "huge circular debt" responsible for the increasing prices in the power sector.

Talking about the underprivileged segments of the society, he said Prime Minister Imran Khan's vision is to introduce a social safety net for the poorest of the poor in the country. He said the Ehsaas programme launched by the Pakistan Tehreek-i-Insaf (PTI) government is a major plan for poverty reduction and is a role model for the world to emulate.