ISLAMABAD (APP) – Federal Minister for Industries and Production, Khusro Bakhtiar said Thursday that the incumbent government had laid solid foundation of economy to promote long-term sustainable economic growth.
Addressing the launching ceremony of environment-friendly Electric motorbike here, the federal minister said that the country had to go to International Monetary Fund (IMF) only because foundation of economy was not laid on solid grounds by the governments in past.
He said, ever since the incumbent government assumed the power, it had its main focus on putting the economy on solid basis. “The country was now on path of sustainable and quality growth,” he added.
He said that the government had to face challenges, however it was successful in consolidating the economy and putting it on growth path.
He said that currently the reserves were growing, current account deficit was manageable whereas the growth rate was recorded at 4 percent and would reach to 5 percent during the ongoing fiscal year.
He said the government had announced auto policy to boost the automobile production in the country besides announcing incentives for producing Electric Vehicles (EVs) for production of environment-friendly vehicles.
He said that since ‘Clean and Green Pakistan’ was a priority of the government, so it would encourage scaling up of electric vehicles’ production. He said that introduction of electric motorbikes would introduce a new sector in economy that would ultimately help pace up economic growth rate.