Sustainability in growth rate links to overcoming current account deficit

ISLAMABAD: Minister of State for Revenue, Hamad Azhar on Tuesday said sustainability in growth rate was directly linked to overcoming the current account deficit.

We had to face Rs 453 billion deficit in electricity sector, he said, adding it was necessary to remove the 150 billion rupee deficit in gas sector as well.

Talking to a private news channel, he said in the current circumstances, we had to increase the prices in gas and electricity sector.

Expressing hope, he said the government was taking all important measures to rescue the economy besides improving the foreign reserves.

He said the trade deficit had come down by 37 percent while the foreign reserves had been increasing gradually, he added.

To a question, he said the opposition had torn all the copies of the summery bill presented before the parliament for reforms in economic sector.

To another question about rise in petroleum products prices, he said keeping in view the rate in the international market, the government was bound to balance the prices of petroleum in Pakistani market.