Economic sentiment in Pakistan turning positive, says Azhar
- The minister further said that tax revenues are also rising, whereas the Current Account is in surplus.
Federal Minister for Industries and Production has said that the latest economic indicators, points out that the economic sentiment is turning positive in Pakistan.
Taking to social media on Monday, the minister said, “Rally in the stock market, appreciation of PKR in currency markets, strong growth in industrial sectors like cement, automobiles, construction, fertilizer, textiles, etc point towards a positive economic sentiment in the country.”
The minister further said that tax revenues are also rising, whereas the Current Account is in surplus.
The statement comes days after Pakistan’s current account posted a surplus for a third successive month in September, revealed the State Bank of Pakistan (SBP) on Wednesday.
As per the data released by the central bank, the surplus reached $73 million against a deficit of $278 million a year earlier. As a result, the current account recorded a surplus of $792 million in Q1-FY21, the first quarterly surplus in more than 5 years.
On the development, Prime Minister Imran Khan said that Pakistan is heading in the right direction.
Meanwhile, Pakistan's exports have surged in Quarter 1 of the current financial year, with an impressive 44 percent increase in IT and IT-enabled services, a 23pc increase in pharmaceutical products, and a 20pc increase in transport equipment.
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