PM Khan gives good news for economy 

By: News Desk      Published: 11:53 AM, 17 Aug, 2020
PM Khan gives good news for economy 

Pakistan Imran Khan Monday took to twitter to give good news regarding Pakistan economy. 

The PM said Pakistan’s remittances from overseas Pakistanis in July have recorded highest ever amount in one month in the history of Pakistan.

He wrote: “More good news for Pak economy. Remittances from overseas Pakistanis reached $2,768 mn in July 2020, highest ever amount in one month in the history of Pakistan. This is 12.2% increase over June 2020 and 36.5% increase over July 2019.”

Earlier, Advisor to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh had said the economic indicators had been showing positive development, citing 6 percent increase in exports that were recorded around $2 billion in July 2020.

The revenue collection during the first month of current fiscal year, he said, was also recorded at Rs 300 billion, which was 23 percent more than the collection of the same month of last year.

He said the economic activity in the country had accelerated with 22 percent increase in the consumption of cement and 6 to 10 percent raise in the use of petrol and diesel, while the automobiles’ sale had also increased in the month.

There was need to carry forward the trend and the government was taking all possible measures to generate economic activity, he added. The advisor said the confidence of both international and domestic investors was increasing in Pakistan as was evident from the performance of Pakistan Stock Exchange, which was declared the second largest market in terms of growth by the Bloomberg.

Moreover, the Moody’s had also provided a stable rating for Pakistan’s economy, which was an encouraging sign for the country, he added.