PM Shehbaz 'requests' business community to present solutions to Pakistan's economic woes

Prime Minister Shehbaz Sharif on Friday gave his approval to present the federal budget for the next fiscal year 2022-23 while interacting with the business community in Karachi.

Addressing the business community, the premier revealed that the Finance Bill for the next fiscal year will be presented on June 10.

During his speech, the premier asked businessmen to speak about their problems and also sought solutions to the economic woes being faced by the country.

PM Shehbaz said that he wanted to meet the business community of the financial capital of the country to seek their opinions on the current economic situation of the country.

“I am not here for political point-scoring,” the premier clarified, stressing that he wants to know the solutions to the problems faced by the business community.

Regarding the rising rates of the US dollar against the Pakistani rupee, he highlighted that the greenback was Rs118 back in August 2018; however, when the coalition government was formed after ousting former prime minister Imran Khan through a vote of no-confidence back in April, the country's economy was in dire straits.

"When I took the oath on April 11, the rate of US dollar against the Pakistani currently was 189.”

“The Rs60-65 increase in the rupee value against the greenback wasn’t the coalition government’s fault,” he said, adding that when the former government speculated that they would be ousted, they reduced the petroleum prices despite a price hike in the international market, thus going against the conditions of the International Monetary Fund (IMF).