“The Pakistan economic is moving onto the way of recovery ,” stated Finance Minister Muhammad Aurangzeb on Wednesday. This gave him optimism about the economy of the country.
At a conference organized on Wednesday, Aurangzeb pointed out other positive developments, including a dramatic rise in foreign exchange reserves, which are expected to cover three months of future imports in about a month or so, up from the paltry two weeks just recently.
Further, he informed that interest rates have come down even as inflation dipped to 4.9 percent, and there is a surplus on the current account of the country’s economy.
Aurangzeb reemphasized that the government will learn lessons from past practices and will again insist on helping the private sector with guiding frameworks without subjecting them to direct interference.
He said that the focused governmental policies and sustaining measures are behind recent improvements in the economy of Pakistan, where he pointed out that the country is now out of a dual deficit and has witnessed budget surpluses for a few months consecutively.