Gov’t efficaciously reduced current account deficit, increased exports: says Asad Umer

SBP Governor updates Finance Minister on progress of different policy initiatives

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Islamabad- Responding to points raised by Opposition Leader Shahbaz Sharif in the National Assembly, the Planning Minister Asad Umer said the government has successfully reduced current account deficit, increased exports, strengthened industry and agriculture and provided relief to the people in the time of Covid-19 pandemic.

He said massive relief was given to the people through Ehsaas programme, provided subsidy on essential items through Utility Stores, reduced policy rate from 13 per cent to seven percent.

Asad Umer said foreign remittances grew by 29.4 percent, which reflects overseas Pakistanis’ confidence in Prime Minister Imran Khan.

Talking about revenue collection, the Minister said it witnessed a growth of 17.9 per cent from July to May, and total collection by the end of this fiscal year is expected to reach 4.8 trillion rupees.

He said IT exports raised by 46 percent, which is unprecedented in the history of Pakistan.

Regarding the construction of water reservoirs and other irrigation projects, Asad Umer said work is underway on three big dams and several irrigation projects in all the provinces to provide a sufficient quantity of water for the agriculture sector.

The Minister said the government has launched a mother-child nutrition program for the better health of the coming generation. He said the government is also working on providing universal health coverage through Sehat Insaf Card. Talking about Covid-19, the Minister said 193 rupees have been reserved to procure anti-covid vaccine to be provided to all the provinces indiscriminately. He said the vaccine will be administered to the people free of cost.

Meanwhile, Speaker National Assembly Asad Qaiser has constituted a twelve-member parliamentary Committee to review the Opposition’s objections on bills passed on the 10th of this month by the National Assembly.

He said the committee will consist of six members each from the treasury and the Opposition side. The Speaker said that it has also been agreed that no personal attack or unlawful disturbance will be allowed in the House.

On the other hand, Governor State Bank of Pakistan, Dr. Reza Baqir called on Minister for Finance and Revenue, Shaukat Tarin in Islamabad on Thursday.

The Governor updated the Finance Minister on the progress of different policy initiatives that are designed for the uplift of the rural and urban youth.

The Governor briefly touched upon the simplification of regulation the Central Bank has proposed to keep pace with the fast-changing financial landscape of the country.

He said that the Central Bank is fully committed to assist the process of economic growth and promote the fuller utilisation of the country’s resources in line with the objectives of the present government.

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