Islamabad: Adviser to the Prime Minister (PM) on Finance Dr Abdul Hafeez Shaikh stated during a briefing to the Federal Cabinet that during the incumbent government’s two years in office, the country’s current account deficit had declined from USD 20 billion to USD 3 billion; while its foreign exchange reserves had risen from USD 8.5 billion to USD 12.5 billion — a news source reported on August 11.
Minister for Information and Broadcasting Senator Shibli Faraz briefed the media on the cabinet meeting. He stated that approximately 15 million families had benefited from the Ehsaas programme so far, and that subsidies had also been provided to utility stores in order to ensure that necessary items remained within an affordable price range.
He also talked about the historic construction-industry incentive package that is expected to generate tens of thousands of jobs and also provide affordable housing. In addition, he pointed out the fact that during July, the country had recorded USD 2 billion in exports, as compared to the USD 1.2 billion figure recorded during July 2019 — with this rise leading to Pakistan’s ratings being improved by various international agencies.
