The Pak Banker

Pak paid off $20b in for­eign loans in 2.5 years

- Business · Finance · Politics · Infectious Diseases · Health Conditions · Pakistan · Islamabad · India · Bangladesh · Pakistan Tehreek-e-Insaf · Imran Khan · State Bank of Pakistan · Ali Abbasi · Punjab

Pak­istan's econ­omy is sta­bil­is­ing and mov­ing to­wards a pos­i­tive di­rec­tion de­spite the COVID-19 pandemic, says Prime Min­is­ter Im­ran Khan.

In a brief speech at a Roshan Dig­i­tal Ac­count cer­e­mony in Islamabad, the pre­mier high­lighted the rul­ing PTI govern­ment's suc­cess sto­ries in the eco­nomic sec­tor. He said Pak­istan has paid off for­eign loans worth Rs20 bil­lion ever since the PTI govern­ment came to power.

The Roshan Dig­i­tal Ac­counts crossed the $500 mil­lion mark in re­mit­tances. "When the PTI govern­ment came to power, Pak­istan had a record deficit which had the great­est im­pact on the ru­pee," the pre­mier said, adding that over­seas Pak­ista­nis helped sta­bilise the ru­pee.

He spoke about an in­crease in ex­ports too and said it came at a time when economies around the world were badly af­fected by the COVID-19 pandemic. PM Khan made a com­par­i­son of Pak­istan's ex­ports with com­peti­tor na­tions like In­dia and Bangladesh. He said the coun­try's tex­tile sec­tor is wit­ness­ing a boom and new tex­tile mills are be­ing opened.

The pre­mier stressed the im­por­tance of tap­ping the mar­ket of over­seas Pak­ista­nis as they were "an as­set for the coun­try". He told the State Bank of Pak­istan to open a spe­cial cell to fa­cil­i­tate over­seas Pak­ista­nis in open­ing a Roshan Dig­i­tal Ac­count.

Pak­istan Tehreek-e-In­saf (PTI) MNA Sadaqat Ali Ab­basi on Mon­day said that Pun­jab govern­ment was pre­par­ing to set up 'agri­cul­ture pri­vate man­dis' to end mo­nop­oly of tra­di­tional man­dis.

Talk­ing to a pri­vate news chan­nel, he said that the govern­ment was tak­ing all pos­si­ble mea­sures to tackle ram­pant in­fla­tion.

He said a num­ber of pri­vate mandi ap­pli­ca­tions had al­ready been filed with the depart­ment and were be­ing pro­cessed, adding that the dif­fer­ence in the prices of com­modi­ties in whole­sale and re­tail in­di­cated to­wards the fail­ure of the mar­ket com­mit­tees.

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Fed­eral Min­is­ter for Fi­nance and Rev­enue, Dr. Ab­dul Hafeez Shaikh chair­ing the meet­ing of the Na­tional Price Mon­i­tor­ing Com­mit­tee (NPMC) to re­view the price trend of es­sen­tial com­modi­ties. -APP
ISLAMABAD Fed­eral Min­is­ter for Fi­nance and Rev­enue, Dr. Ab­dul Hafeez Shaikh chair­ing the meet­ing of the Na­tional Price Mon­i­tor­ing Com­mit­tee (NPMC) to re­view the price trend of es­sen­tial com­modi­ties. -APP

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