Pakistan can develop only if it makes economic progress: PM Sehbaz Sharif

Pakistan Prime Minister Shehbaz Sharif on Saturday said that the country cannot develop only if it makes economic progress.

Addressing the nation on television and radio on the eve of the 75th independence day of the country, Sharif said that Pakistan needs to get out of the ongoing economic turmoil that it is witnessing.

As opposition leader, I had offered the charter of economy to the (then) government; as Prime Minister I once again repeat the offer, he said, adding that the country cannot make progress without economic progress.

During his address, Sharif also paid tribute to the leaders of the Pakistan movement and congratulated millions of Pakistani living all over the world on the Independence Day.

He highlighted the economic crisis along with the emotional crisis faced by the nation due to the existing political tensions in the country.

He blamed the previous government for the current economic mess but vowed to bring stability.

Sharif also accused the Imran Khan government of harming the China Pakistan Economic Corridor by suspending it.

Sharif also said that the previous government left a USD 48 billion deficit and it also failed to ink any long term energy agreements when the prices of petroleum were low.

He announced plans to launch solar energy projects to end reliance on the expensive oil imports.

Political instability in Pakistan, depleting foreign reserves, delay in the IMF's loan disbursement, and rupee devaluation have had a hard-hitting impact on the economy of the cash-strapped country which has sought financial assistance on an emergency basis from the global lender.