ISLAMABAD: The Pakistan Economy Watch (PEW) on Thursday said Prime Minister Imran Khan is ensuring rapid economic development amid the third wave of the pandemic.

He is also trying to reduce inflation for which the new economic team has been given the task, it said.

The benefit of a strengthened exchange rate will not be limited to the business community as it would be transferred soon to the masses, said Chairman Pakistan Economy Watch Brig. (retd) Aslam Khan.

He said that changes in the Economic Advisory Council and inclusion of noted businessmen in it will improve situation through much needed bold policy and administrative decisions.

He noted that PM is aware that improved focus on progress in energy, taxation and the agriculture sector is the key to ensure rapid economic development.

The PM is now preferring growth over stabilization so that masses can get employment and relief amid devastation by the pandemic.

He also lauded the decision of the PM to approach IMF for relaxation in strict terms and conditions which are necessary to provide relief to the masses and deal with the negative impact of the Covid-19 crisis.

The IMF must soften its conditions for the remaining period of the loan to provide the government with room to pursue pro-growth strategies for mass relief, he demanded.

Annually over one trillion dollars find their way from underdeveloped countries to developed nations and tax heavens and Pakistan is no exception.

However, he said some recent steps by the government has not only increased home remittances but also lured overseas Pakistan to invest in their own country which is a very welcome development, he said.