Bad days gone as Pakistan moving towards economic stability: Hafeez Shaikh

ISLAMABAD – Prime Minister's Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh Sunday said bad days had now gone as Pakistan was heading fast towards economic stability due to timely and prudent measures taken by the PTI government.

Addressing a press conference flanked by Federal Board of Revenue Chairman Shabbar Zaidi and Secretary Finance Naveed Kamran Baloch in the federal capital, he said there had been considerable growth in exports with sizable reduction of 73% in the current account deficit, and stable foreign exchange reserves and rupee-dollar parity.

The stock market, he said, had also been stable for the last couple of weeks. At the same time, the overall revenue collection had also increased to Rs 580 billion during the first two months of the current year from Rs 509 billion of the corresponding period of last year, showing 25 percent growth.

Due to decline in imports, revenues in that regard were decreased, but domestic revenue collection surged by 40% during the period, he added.