ISLAMABAD – In another positive economic development, Pakistani exportsregisters increase, Adviser to Prime Minister on Finance and Revenue DrAbdul Hafeez Shaikh said on Tuesday.
He revealed the country’s exports registered a 9.6 per cent increase inOctober. “Exports of Goods & Services increased by 9.6pc in Oct 2019,” hesaid in a tweet. “To provide easy working capital & funds for expansion,Govt & SBP will give additional Rs 300B[illion] in subsidised financing toexporters & Rs 30B will be given in cash instead of promissory notes issuedagainst tax refunds,” he added.
linkDr. Abdul Hafeez Shaikh@a_hafeezshaikhlinklink
Exports of Goods & Services increased by 9.6% in Oct 2019. To provide easyworking capital & funds for expansion, Govt & SBP will give additional Rs300B in subsidised financing to exporters & Rs 30B will be given in cashinstead of promissory notes issued against tax refunds.
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A day earlier, Dr Shaikh had said the current account deficit shrank by amassive 63.1 per cent in the first quarter of the current fiscal year.
Talking to anchorpersons in Islamabad, Hafeez Sheikh had said that tradedeficit fell by 33.5 per cent during the first quarter of FY20. He alsonoted that exports increased by 3.8 per cent during the period.
The finance adviser had said that the government has taken concretemeasures to eliminate circular debt by December 2020, adding that theeconomy has been put on the upward trajectory of progress and development.
