RAWALPINDI: Incarcerated Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan on Thursday acknowledged that the incumbent government, led by Pakistan Muslim League-Nawaz (PML-N), has stabilised the country’s economy that was on brink of default.
“The economy has been stabilised and rescued from bankruptcy, but it has not seen growth yet,” the former prime minister, who is the arch-rival of the ruling party and had blamed the incumbent rulers for “destroying” the economy, said while speaking to journalists in Adiala Jail.
The statement comes as improvement in the economic indicators with Pakistan Stock Exchange (PSX) touching all-time high and the State Bank of Pakistan (SBP) slashing the interest rate to 13% from historic high of 23%.
The country also reported its highest current account surplus in a decade, amounting to $729 million in November 2024, a notable turnaround from the $148 million deficit recorded in November 2023.
Moreover, the large scale manufacturing sector output posted a meagre increase of 0.02% YoY in November, however, remained in negative territory during four months of FY25.
Pakistan’s power generation increased by 6% YoY in November 2024, clocking in at 8,032GWh. The government raised Rs382 billion through PIBs where cut-off yields fell by up to 55bps across tenors.
