PM Khan appreciates his team’s economic performance as FDI and exports increase exponentially

The current account deficit was recorded at the lowest in 41 months, measured at $259 million.

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FDI

 

Prime Minister Imran Khan appreciates his team for their performance and turning around the national economy ‘within a year’. PM made these remarks based on a significant increase in FDI (Foreign Direct Investment), exports and remittances. With that, a sharp decline in the current account deficit was also witnessed.

Speaking on the incumbent government’s economic performance so far, Prime Minister shared some data along with graphs depicting the productivity so far. According to the shared statistics, FDI had surged by 111.5% and the foreign private investment by 194% during the initial first year.

Not just this, the current account deficit was recorded at the lowest in 41 months, hitting $259 million from $1.27 billion. The data further showed that exports have also increased by 5.9%, while imports witnessed an 18.6% decline.

”Harsh steps taken by the government have improved the country’s economy”

Hafeez Shaikh, the adviser to PM on finance, revenue, and economic affairs, in a press conference, said that due to the government’s well-thought and rigorous steps to curb down expenditures, a positive impact has been witnessed.

As part of the austerity drive, the cabinet members received a significant salary cut. The budget for the army was kept stagnant and the Prime Minister’s office also cut down its expenditures.

”We tried to increase our revenue and brought 0.8 million people under the tax net. We tried to increase exports and production so that people are able to benefit,” Shaikh said.

He also said that the government’s two big deficits have declined. The trade deficit has gone down to $5.7 billion from the previous $9 billion. On the other hand, the fiscal deficit has also declined by 36%, decreasing from Rs. 738 billion to Rs. 476 billion in the first quarter of the ongoing fiscal year.


Also See: Economy Is Moving Towards Stability, Confidence Of Investors Is Being Restored”

What are your views on this? Share with us in the comments bar below.

  • Yes your policies have controlled the deficit thank you very much but without a surplus in food production export of foods is bring inflation because of devaluation and you have to increase your food production on war footing to bring relief to the common or allow controlled import free Items of food to bring relief and crush the food mafia and hoarders allow duty free import of sugar to crush sugar mafia and release land used for farming sugar to divert to cotton which is mainstay of economy

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