Countrys economy improving: Hafeez

Pakistan

Countrys economy improving: Hafeez

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Hafeez said the economy showed positive indicators during the first month of fiscal year 2011-12.

18 August,2011 09:17 pm

Federal Finance Minister Abdul Hafeez Sheikh met Prime Minister Yousaf Raza Gilani and briefed him about the country’s economic condition. He told the PM that the economy showed positive trend in July.The minister said that the revenue collection during July was Rs 105 billion, which recorded an increase of 36 percent over the corresponding period of last July, adding that the exports were 2.3 billion dollars with an increase of 27 percent than the month of July last year. He further said that the remittances in July stood at 1.1 billion dollars, representing an increase of 35 percent over July 2010-11.Hafeez informed the PM that the government did not resort to borrowings from the State Bank of Pakistan during the first month of FY-2011-12.