RAWALPINDI: Jailed Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan on Thursday acknowledged that the incumbent Pakistan Muslim League-Nawaz (PML-N)-led government had stabilized the country’s economy which was on the verge of default.
“The economy has been stabilized and saved from bankruptcy, but it has not yet experienced growth,” declared the former Prime Minister, a great rival of the ruling party and who had accused the leaders in place of “destroying “the economy. speaking to journalists at Adiala prison.
The statement comes amid improving economic indicators, with the Pakistan Stock Exchange (PSX) hitting an all-time high and the State Bank of Pakistan (SBP) reducing the interest rate to 13 percent from an all-time high by 23%.
The country also recorded 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.
Additionally, large-scale manufacturing sector output showed a slight increase of 0.02 per cent year-on-year in November, but remained in negative territory for four months of FY25.
Pakistan’s electricity generation increased by 6% year-on-year in November 2024, reaching 8,032 GWh. The government raised Rs 382 billion through PIBs whose yield limits fell by up to 55 basis points depending on the maturity.