ISLAMABAD, August 14(ABC): On the eve of August 14, Prime Minister Shehbaz Sharif told the nation that there is no concept of a nation’s independence without economic self-reliance.
In a televised address to the nation on Saturday, the prime minister reiterated his call for the formation of a “charter of economy”, saying that time has come for Pakistan to head in the right direction.
“We should keep national interest above personal interest […] as real political leadership does not look towards the next elections, but at the future of the next generation,” he said.
“Most importantly, we will need to revive the passion that led to the creation of Pakistan,” he said, noting that this passion will lead to the establishment of a great nation.
The prime minister said that the government has banned unimportant imports which resulted in the local currency’s recovery against the US dollar.
He added that the government has decided to start solar projects instead of importing oil and gas. This will provide the nation with cheap electricity, he added.
The prime minister’s call for economic stability comes as the cash-strapped nation desperately seeks financial assistance from friendly countries and the International Monetary Fund (IMF).
The country’s foreign reserves held by the State Bank of Pakistan were recorded at $7,830.3 million, down $555 million compared with $8,385.4 on July 29, data released by the SBP on Thursday showed, which can cover fewer than 1.12 months of imports.
Shehbaz Sharif-led government came into power in April after the ouster of PTI Chairman Imran Khan — and since then, the incumbent rulers have been trying to stabilise the economy.