KARACHI – State Bank of Pakistan (SBP) Governor Dr Reza Baqir has saidthat Pakistan’s economy is moving in the right direction.

Reza Baqir attended the ceremony of Pakistan Stock Exchange (PSX).Addressing a gathering at PSX, the SBP governor said that the cooperationbetween the stock market and the bank is important. He said that the numberof Roshan Digital Account (RDA) is increasing and money is coming from thecountry. “Other sectors, including housing and construction, are also beingmonitored,” he added.

Dr Reza Baqir maintained that the remittances from the overseas haveboosted by 26 per cent and could further enhance on the Eid. “Large scalemanufacturing has increased by 9 per cent. Foreign exchange reserves alsoincreased,” he mentioned.

He said that they are negotiating on the terms of IMF. “The IMF is alsoacknowledging that Pakistan’s GDP is growing.” he added.

“Before the coronavirus pandemic Pakistan’s economic indicators werestable. Pakistan’s economy has been set on the right path. The primeminister has tweeted today about improvement in the economy of thecountry,” Reza Baqir said.

Speaking to the journalists, Reza Baqir said that overseas people caninvest through Pakistani conversion account. Overseas Pakistanis areinvesting in Naya Pakistan funds. He said there was no need to provide acopy of the identity card to the banks for payment of bills and vouchers, arequirement that was lifted last month.

The SBP governor said that the employment scheme was also a unique schemein the history of Pakistan which resulted in a capital circle of Rs250billion.