Friday, December 9

Policy of encouraging exports, discouraging unnecessary imports strengthened economy: Shibli

Islamabad:The federal cabinet has been informed that the current account deficit has been brought down from 20 billion dollars to only three billion dollars. Briefing media after the Federal Cabinet meeting in Islamabad with Prime Minister in the chair, Minister for Information and Broadcasting Shibli Faraz said the policy of encouraging exports and discouraging unnecessary imports has paid the dividends.

He said due to the government’s prudent economic policies, the foreign exchange reserves of State Bank have increased from 8.5 billion to 12.5 billion dollars. The Information Minister said under the Ehsaas programme, financial assistance was provided to some 15 million families in a transparent manner.

He said international institutions have given better ratings to Pakistan’s economy, which is a sign of its economic stability. He said the government had to take difficult decisions and now hard times have almost passed and the nation would soon benefit from good times.