Strong growth witnessed in exports, says Azhar


Staff Report
ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar said Wednesday the country has witnessed ‘strong growth’ in its export volume from July-September 2019.
Hammad Azhar said in his latest statement that the government’s step brings significant improvements in the export volume which witnessed visible growth since the exchange rate adjustment. He has also shared the statistics provided by the State Bank of Pakistan (SBP) in his Twitter message which he termed as the proof of the increase in exports.
Azhar stated in his tweet that the central bank saw a 12 per cent rise in exports during the fiscal year of 2018-10, whereas, the ‘strong growth witnessed from July-Sept 19 period too this year.’
On Tuesday, Azhar had said that foreign direct investment increased by 137 per cent due to prudent policies of the incumbent government.
Highlighting the achievement of the PTI government on the economic front,  Hammad Azhar addressing  a news conference in Islamabad, said current account deficit in the first quarter of the current fiscal year has decreased by 65 per cent, fiscal deficit declined by 50 per cent, primary budget balance noted a surplus of 385 billion rupees, foreign investment of 350 million dollars came to Pakistan, and foreign exchange reserves witnessed an increase of 650 million dollars.
The minister said the collection of Federal Board of Revenue (FBR) has increased and tax base enhanced by 55 per cent and growing circular debt brought down from 38 billion to 12 billion rupees per month.