Country’s economy heading towards right direction: Shibli Faraz  

ISLAMABAD: Information Minister Shibli Faraz has said that the country was heading toward economic stability owing to the effective policies of the government.

Addressing a press briefing after the cabinet meeting on Tuesday, Shibli Faraz said continuous stability has been witnessed in stock markets due to improving economic conditions.

He further said that the financial advisor gave a detailed briefing on current economic conditions as the government is nearing two years of its rule. The minister said, “Economy is heading in the right direction while exports have increased in the country”.

He maintained that the economic deficit stands at 8.1 percent as compared to the speculated 9.1 percent. Faraz mentioned that State Bank’s reserves have reached $12.5 billion which is a welcoming sign.

When the PTI government came into power, the current account deficit was $20 billion while now it stands at $3 billion, he added.

Shibli Faraz said that 80 percent dues of media organizations have been paid while the prime minister has instructed to clear remaining dues within 24 hours.

According to the special assistant said that the agriculture sector was included in the China-Pakistan Economic Corridor (CPEC) projects as the country would increase its cotton production through modern technology with the assistance of Beijing.

He also stressed to extending further facilitation to the business community, especially to the small and medium entrepreneurs, so that they were encouraged and did not face any financial issues.

The minister stressed upon giving special focus to further increasing the close coordination among all the relevant inter-provincial authorities and the departments in this regard.