The agreement with the International Monetary Fund (IMF) would not have been possible without the support of China, Prime Minister Shehbaz Sharif said on Saturday.
China gave $5 billion in 3-4 months, he said while talking to the representatives of the Lahore Chamber of Commerce and Industry.
He said the wrong decisions of the previous government damaged the reputation of the country at the international level.
“Unfortunately, personal interest was preferred to national interest,” he said, adding that the previous government damaged ties with the US while the coalition government improved relations with Washington.
Fifteen months of our government were spent in restoring relations with America, the premier maintained, adding that the US Secretary of State also welcomed the IMF agreement.
He continued: “Everyone played a role to save the country from bankruptcy. The nation should know what stages we went through. We have to reform the basic structure, Prime Minister
“Increasing the cost of electricity is a requirement of IMF and our need too. “All institutions should stay within their limits and lead the country on the path of development.
He vowed to fix the traders’ woes, saying: “Solving the problems of traders is the top priority. Providing facilities to industry and trade is the responsibility of the government.”