Pakistan Prime Minister Imran Khan, in a televised addressed to the nation on Independence Day, said that the past two years were difficult, but things were now "improving". "We had a very difficult two years. We didn't have foreign exchange and couldn't pay our debts," he said on Friday.

"We have avoided a huge crisis because we didn't default [on payments]. But I know it hasn't been easy for the people, I understand the difficulties they faced and still are facing."

However, the economy has improved, the premier said, adding that the stock market trends indicate the confidence of investors and business community in the economy. He attributed the improvement in the economy to the boom in the construction sector which led to jobs and wealth creation.

"Despite the pandemic, our tax collection in June exceeded our targets," he said, adding that exports have gone up, despite the coronavirus crisis that has wreaked havoc on global economy.

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