Federal government steps have started to yield positive results for Pakistan economy

Federal government steps have started to yield positive results for Pakistan economy
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*KARACHI: Prime Minister’sAdviser for Trade Abdul Razak Dawood has said that the government’s decis**ions have positive impact on the economy.*

The government adviser talking at a gathering said that the imports have decreased while exports enhanced due to the decisions of the government.

Decreasing imports have saved the country an amount of two billion dollars, Dawood said. The trade deficit also goes down by two billion dollars in comparison to the previous year, the adviser said.

He said imposition of import duty on non essential items have benefited the economy. A ban on the import of furnace oil has also added strength to the economy.

He said the government’s economic decisions have positively affected the economy.

He called four percent increase in exports in seven months not a big deal and hoped that devaluation of rupee will help increasing the exports adding that further devaluation of rupee is not necessary.

Dawood said Pakistan spends three billion dollars’ on import of edible oil every year and the government has to take steps in this respect.

Pakistan’s cement exports have enhanced by 50 percent, while the local demand of cement has decreased, the adviser said.

He denied talks with IMF over hike in gas and electricity tariffs, ” surprised to see such news in the media,” Dawood added.

Economy