He said that improvement was visible from the recent upsurge in the stock market and revenue collection.
Despite the pandemic, our tax collection in June exceeded our targets," he said.
Khan said exports also were up, despite the coronavirus crisis that has wreaked havoc on the global economy. He said the tax collection during the last month remained more than the target.
The Prime Minister said his government gave an unprecedented incentive package to the construction industry which would help to uplift at least 40 other allied industries.
He also said that Pakistan successfully coped with the threat of COVID-19 and it would also help to enhance economic activities.
But Khan warned that this does not mean we have won this battle as he urged people to follow the official guidelines.
Referring to the power sector, Khan said Pakistan was generating expensive electricity due to the agreements signed in the past, which resulted in an increase of circular debt.
However, he said that the government had reached an agreement with independent power producers which would lead to a reduction in the cost of electricity production.
Khan said Pakistan's industries could not compete with other nations in the region, like India and Bangladesh, as their cost of production was low due to cheap electricity.
He said that Pakistan was created to become an Islamic welfare state where the law was supreme and everyone had equal rights regardless of their race, caste or religious beliefs. Khan said the country would realise that dream.
The Prime Minister also showed solidarity with the people of Kashmir, vowing to continue diplomatic and moral support to their struggle for their right to self-determination.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.