ISLAMABAD     -    Prime Minister Imran Khan has said that local production of tires would not only help Pakistan in reduction of the import bill but also export of tires will build up the foreign exchange reserves.

Addressing a tripartite signing ceremony between MSD Tire and Rubber Company, Doublestar China and Dawood Pakistan Express Bus Service Limited here on Wednesday, the Prime Minister vowed to economically uplift the country by bolstering exports and attracting the foreign investment.

He welcomed the Chinese investment in different sectors and said Pakistan will encourage more Chinese investment by providing them an enabling environment.

He said that several agreements have already been signed with China and the CPEC provides the platform to further bolster the economic partnership between the two countries.

Imran said that the country's economy has been stabilized as a result of measures taken by the present government. 

He said that the current account deficit has been curtailed and the rupee has also stabilized. The positive sentiments are now also visible in the stock market.

Imran was confident that Pakistan will achieve higher growth rate than the one projected for the current fiscal year.

He said they are giving incentives to the construction to uplift this important sector of the economy. “We are also extending facilities to the investors.”

The Prime Minister said that world institutions including the IMF, the Asian Development Bank and the World Bank have also endorsed that the country is heading in the right direction.

He said that the World Bank has improved our ease of doing business ranking by twenty eight points.

Imran Khan, however, stressed that our next challenge is to provide job opportunities to the youth by bringing in the investment. For this, he said we will fully facilitate the investors.