Pakistan’s Current Account Surplus Hits 17-year High Due To Economic Reforms: PM

Aizbah KhanWeb Editor

12th Nov, 2020. 06:21 pm
Pakistan's Current Account Surplus Hits 17-year High Due To Economic Reforms: PM

Prime Minister Imran Khan said, “I am proud that our current account has gone into surplus in the last quarter after 17 years due to our efforts on economic reforms.”

Addressing the ‘Naya Pakistan Certificate Launching’ ceremony in Islamabad, he said that it was a great achievement which could not be promulgated.

“We focused on improving the export industry,” he said.

Prime Minister Imran Khan said that our exports have increased by 24%.

“Remittances have also increased due to the concessions given by the SBP,” he added.

Imran Khan said that the current account surplus was also due to the decline in imports.

“This positive development needs to be taken forward and in this regard, I think the New Pakistan Certificate initiative will play a key role,” he said.

“We will try to persuade Pakistanis living abroad to keep their money in Pakistan,” he said.

He said that half of the tax revenue goes to the instalment of loans and if overseas Pakistanis transfer their money to Pakistan through Naya Pakistan Certificate, the country would benefit a lot.

Prime Minister Imran Khan said that the value of our rupee is strengthening without spending dollars in the market.

“Our income is above expenditure,” he said, quoting Finance Advisor Dr Hafeez Sheikh in the context of the primary balance.

Imran Khan said that if the debt burden of the previous governments had not been borne, the country would have been moving in the right direction economically.

He said that no loan has been increased in the last four months and there is a sense of difficulty in this regard as there is trouble when expenses are reduced.

Adsence 300X250