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Govt has made record repayments of $20 billion in foreign loans: PM

Govt has made record repayments of $20 billion in foreign loans: PM
February 18, 2021

ISLAMABAD (92 News) - Prime Minister (PM) Imran Khan said that the country's economic indicators on positive trajectory even the government has made record repayments of $20 billion in foreign loans over the last two and a half years.

The prime minister said was addressing a ceremony in connection with Roshan Digital Account crossing five hundred million dollars mark in remittances in Islamabad on Thursday.

Imran Khan mentioned that the country's economic indicators are on positive trajectory despite many challenges including that of the COVID-19. He also said the current government has made record repayments of twenty billion dollars in foreign loans over the last two and a half years.

The Prime Minister expressed his pleasure over the record increase in the country's exports at a time when the economies around the world were badly affected by the breakout of the pandemic. "Our exports have been more than our competitors including India and Bangladesh. our textile sector is witnessing a boom and new textile mills are being opened," he added.

PM Khan noted that the conscious efforts to improve exports as well as remittances in the Roshan Digital Pakistan Accounts have helped stabilize the rupee. He said that 88 thousand Roshan Digital Accounts have been opened in ninety seven countries.  He pointed out that the overseas Pakistanis are our biggest asset and it has been his endeavour to tap this potential to take forward the country.

Imran Khan directed the State Bank of Pakistan to open a special cell to fully facilitate the overseas Pakistanis in opening the Roshan Digital Account. He said the more we facilitate the expatriates, more amounts will come in the Roshan Digital Account.

He also stressed for a focussed and innovative media campaign for overseas Pakistanis to apprise them about this new initiative. He was confident that this will help increase the number of accounts.

The prime minister said the banking sector has an important role in Naya Pakistan Housing Program as well as the promotion of small and medium enterprises. He said these two sectors have been the potential to accelerate the economic growth.