LAHORE Information Minister Fawad Chaudhry said Sunday that the government was determined to implement a comprehensive reforms agenda to steer the country out of economic and administrative challenges.

Addressing a ceremony at a local on Sunday, he said the country’s debts had risen to 28 trillion rupees due to economic policies of the previous regimes.

He said the Pakistan Tehreek-e-Insaf (PTI) government had decided to utilise the dead assets of the loss-making national institutions including the Pakistan Steel Mills and PIA.

The information minister said if the PTI government resorted to foreign loans, the country’s foreign debts would soar to 40 trillion rupees, adding that the government had invited Saudi Arabia and other countries to invest in Pakistan.

He said Pakistan wanted Saudi Arab to benefit from infrastructure projects in the China-Pakistan Economic Corridor (CPEC) project, adding that the government welcomed foreign investments.

He said the government assigned the best economists and technocrats the task of restoring the country’s economy and stemming the rot in administrative affairs.

Fawad Chaudhry said the PTI government was working for a true change in the country and the austerity drive was part of the government’s mission to save the taxpayers’ money from misuse and misappropriation.