*KARACHI: In collaboration with the friendly countries, Pakistan has gotrid of economic crisis and its economy has been set on the right direction,says State Bank of Pakistan Governor Tariq Bajwa. *
Addressing a ceremony at a private university in Lahore, Tariq Bajwa saidthat the alarming bells about Pakistan’s economy had been stopped and addedthat the current government was capable to meet all economic challenges.
He said that the current government under the leadership of Prime MinisterImran Khan successfully brought the country out of economic crisis with thehelp of friendly countries including, China, Saudi Arabia, UAE and others.
The SBP governor said that the government had devised a comprehensive planto eliminate the current account deficit and the work in this regard was inprogress. He said that the prevailing government was also in contact withthe International Monetary Fund for a bailout package to minimise thecurrent account deficit.
He said that capacity building was being developed to tackle the hugenumber of pending cases and for their speedy decisions.
Earlier the State Bank of Pakistan (SBP), on January 24, had received firstinstallment of $1 billion from United Arab Emirates (UAE) to support thecountry’s financial and monetary policy.
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A spokesman of the SBP said that the bank had received first tranche of onebillion US dollars from the package of $3 bn, announced by the UAE aftervisit of Prime Minister Imran Khan.
On January 22, Pakistan and United Arab Emirates (UAE) had reachedagreement on $3bn support Package in Abu Dhabi.
On January 25, Pakistan had received the last tranche of one billiondollars as part of the Saudi Arabia bailout package.
