(24 News) Federal Finance Minister Muhammad Aurangzeb has said that remittances are expected to be more than 35 billion this year, the series of successes in the economic field continues, the economy is improving with concrete measures, the current account deficit is surplus after 10 years. Wind, which is a significant development.
Addressing the meeting of the Economic Coordination Committee (ECC) of the Cabinet, he said that inflation has also fallen to the lowest level in 6 and a half years, that is why the State Bank has reduced the interest rate for the fifth consecutive time to 13 percent. Yes, Muhammad Aurangzeb said that remittances have increased by 35% on a year-on-year basis, the Governor of State Bank has expressed hope that this year, God willing, the remittance collection will reach 35 billion dollars. He said that due to the increase in exports, our foreign exchange reserves have improved, a year and a half ago we had foreign exchange reserves equivalent to 2 weeks of imports, now we have become capable of 3 months of imports.
The Federal Minister of Finance said that in meetings with industrial partners, overseas chambers and members of the Pakistan Business Council last week, the 22 percent interest rate has reduced the cost of loans to businesses by about 50 percent. He said that the price of chicken, mash and gram dal decreased globally, but their prices were increasing in Pakistan. Why is the benefit of lower prices not reaching?
Mohammad Aurangzeb said that the business confidence index is changing and going in a positive direction, he said that according to the data we have received, the volume of cement, fertilizer, petroleum and other sectors has increased.
The Federal Finance Minister said that all the agendas will be considered in the ECC meeting, we will share the data based on the good news from the nation.
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