ISLAMABAD – The government is confident to surpass the growth target of 2.4percent set for the current fiscal year (2019-20) as after gainingstability on external front during the past year, the economy has beencurrently moving on positive direction, Advisor to Prime Minister onFinance and Revenue, Dr. Hafeez Shaikh said Wednesday.
Addressing a press conference along with economic team of the government,the advisor said there had been considerable growth in exports, which grewfrom $2.01 billion during first two months of last year to Rs2.23 millionthis year, while imports have declined from $5 billion to $4.1 billion,reducing overall current account deficit of the country by 73%.
The advisor was accompanied by Federal Minister for Planning and ReformsKhusroo Bakhtiyar, Federal Minister for Energy Omar Ayub, Federal Ministerfor Economic Affairs Hammad Azhar, Advisor to Prime Minister on Commerceand Textile, Investment and Industries, Razzak Dawood, Special Assistant toPrime Minister Nadeem Babar and Chairman Federal Board of Revenue (FBR)Shabbar Zaidi.
On the other hand, the overall revenue has also increased from Rs 509billion during the first two months of the last year to Rs 580 billionduring the current year, showing 25 percent growth.
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He was of the view that keeping in view the decline in imports, there hasbeen decrease in revenues adding that the non imports revenues surged by40% during the period.
