Poor To Get Relief From New Economic Reform Package: Spokesman

Rukhshan Mir (@rukhshanmir) Published January 20, 2019 | 04:48 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Jan, 2019 ) :The new economic reform package to be presented by the government in National Assembly on January 23 would provide maximum relief to poor segment of the society, besides boosting investment and business process in the country.

Spokesman of ministry of finance, Khaqan Najeeb said that the government of Pakistan was developing an environment promotion and industrial competitiveness package.

Enhancing exports and supporting both domestic and foreign investors are key elements of policy package to be announced on January 23, he added.

Talking to APP here, he said the government had included suggestions in the package came from Stock Exchange, Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and other private business entities.

The spokesman said the government was taking concrete steps to strengthen the economy adding that Balance of Payment was also improving.

Due to right policies of the government, he said the country's macroeconomic indicators had shown better performance during last six months, He said that remittances had grown by 10 percent during first six months while Foreign Direct Investment in December 2018 surged by 17 percent compared with December 2017.

He said trade deficit in six months shrank by 5 percent and exports grew by two percent, while imports also dipped by 2 percent.

He said due to diligent efforts of the present government, current account deficit in first half of current fiscal year dropped by 4.4 percent as compared to same period last year while pressure on external account was also reducing.

"Private sector borrowing reached Rs.496 billion in first six months of FY19 compared to Rs 232 billion of same period last year showing a more than double growth" he added.

The Spokesman said that during first three months of current Fiscal Year, agriculture sector borrowing also increased by 36 percent to Rs 212 billion compared to sameperiod last year.

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