Current account deficit has come down by 63.1pc: Hafeez Shaikh
The trade deficit has decreased by 33.5pc in the first three months of the current fiscal year.
ISLAMABAD (Dunya News) – Advisor to the Prime Minister on Finance Dr Hafeez Shaikh on Monday said Pakistan Tehreek-e-Insaf (PTI) government is strengthening the economic institutions of the country to get durable economic results.
He said this while talking to senior anchorpersons in Islamabad on Monday to brief them about the economic performance of the government in the first quarter of the current Fiscal Year.
Dr Hafeez said that due to prudent policies of the incumbent government, the current account deficit has come down by 63.1 percent in the first quarter of the current fiscal year whereas the volume of exports has increased by 3.8pc.
The trade deficit has decreased by 33.5pc in the first three months of the current fiscal year.
The advisor said that the government is also trying to generate above target non tax revenue in the ongoing fiscal year.
He reiterated the resolve of the government to eliminate circular debt by December next year.
Dr Hafeez went on to say that the International Monetary Fund (IMF) team in its first review has given a very satisfactory report on the economic performance of the government in the first quarter of the current Fiscal Year.
The media persons were informed that the government will utilize all its energies to increase the revenue and decrease the expenditures in the remaining quarters of the current fiscal year.
