ISLAMABAD, Pakistan: The Federal Minister for Information and Broadcasting Chaudhary Fawad Hussain has said that the Pakistan Tehreek-e-Insaf (PTI)-led incumbent government has changed the Country’s economic direction, expressing the confidence that the Country will stand on its own feet in the next few years.
In his address at an event in Islamabad on Wednesday, he said that our construction, textile, and software industries are booming today. He however regretted the debt burden of Rs 23,000 billion accumulated during the period between 2008 and 2018.
The minister said that this money was laundered abroad and the Country today is faced with the issue of inflation.
Fawad Chaudhry said that the government will have to return a loan of US$ 12 billion this year.
The information minister said that there is a price hike today because of the rising prices of commodities in the international market. He pointed out that the prices of petroleum products, palm oil, and wheat have substantially gone up.
The minister put emphasis on the modernization of livestock and farming sectors, saying that it will help us bolster our exports of food-related items to the Arab World.
Fawad Chaudhry said that we will also have to add value to our industrial products to enhance our exports.