Construction activities increase in the country: Hafeez Sheikh

Advisor to Prime Minister Imran Khan on Finance, Revenue and Economic Affairs Abdul Hafiz Sheikh has said that construction activities have increased in the country.

Special Assistant to the Prime Minister for Information and Broadcasting, Firdous Ashiq Awan and the Government Economic Team have held a press conference in Islamabad.

During the press conference Government Economic Team highlighted the effective measures of the government which supported the economy of the country.

On the occasion, the Federal Minister said that the President of the World Bank and the IMF appreciated the economic measures, while the IMF would provide loan of Rs 200 billion to exporters in easy installments.

He said foreign exchange reserves are increasing which has led to a significant improvement in domestic exports, while $ 2.1 billion of loans taken by previous governments have been paid and domestic tax net has increased by 21%.

Advisor Finance said the government will provide Rs 30 billion subsidy on its behalf and the government allocated Rs 30 billion for Naya Pakistan housing scheme.

He further said that the IMF team has recommended a second installment for Pakistan, while efforts are being made to curb smuggling and no currency note has been printed for the last four months which has had a positive effect.

He said NFC talks were taking place in the federal and all four provinces.

Earlier, Prime Minister Imran Khan chaired the economic team meeting, senior officials including Advisor Finance, Federal Ministers Hamad Azhar, Khusro Bakhtiar, Chairman FBR, Advisor Finance and Trade and Firdous Ashiq Awan were present. The economic situation of the country was reviewed and the Prime Minister was given briefing on price hike of essential items.