Pakistan has come out of current account deficit after 17 years: Fawad Ch

ISLAMABAD (92 News) – Minister for Science and Technology Fawad Chaudhry Thursday said that Pakistan has come out of current account deficit after 17 years.

In a tweet on Thursday, the minister said this happened because our exports and remittances remained more than imports.

He also said the government has also cut its expenditures. He said the country can only be taken forward on the path of economic self-reliance by reducing expenditures and enhancing the revenue.

سترہ سال کے بعد پاکستان کا کرنٹ اکاؤنٹ خسارے سے باہر آیا ہے یعنی سترہ سال میں پہلی بار ہماری ایکسپورٹس، اور ترسییلات ہماری درآمدات سے زیادہ رہیں، حکومت نے اخراجات میں بھی بہت کمی کی ظاہر ہے خرچے کم ہوں اور آمدن زیادہ تو ہی ہم معاشی خود انحصاری کی طرف بڑہ سکتے ہیں۔

— Ch Fawad Hussain (@fawadchaudhry) October 22, 2020

Earlier, Prime Minister (PM) Imran Khan said that great news for Pakistan as we are headed in right direction finally.

In a tweet, the prime minister also said that the country’s current account balance posted a surplus of $73 million during September, bringing surplus for the first quarter of the current fiscal year to $792 million as compared to $1,492 million deficit recorded during last year’s corresponding year.

The prime minister said exports also saw a 29 per cent increase besides remittances growing 9 per cent over the previous month.

 

Great news for Pakistan. We are headed in right direction finally. Current Account was in surplus of $73 mn during Sept, bringing surplus for 1st qtr to $792 mn compared to deficit of $1,492 mn during same time last yr. Exports grew 29% & remittances grew 9% over previous month.

— Imran Khan (@ImranKhanPTI) October 21, 2020