Numbers never lie, says Shaukat Tarin

ISLAMABAD: Advisor to Prime Minister on Finance and Revenue Shaukat Tarin on Sunday said that various economic indicators clearly show that the country's progress by all accounts was on the rise.

"Numbers never lie," the advisor said while indicating towards progress in various sectors of economy including agriculture, manufacturing, exports and tax collection. He said the country was now sugar surplus, besides producing huge surplus in rice, maize and cotton.

"Numbers never lie; our progress by all accounts is on the rise, i.e., agriculture, manufacturing, exports and tax collection. We are now a sugar surplus country. Also producing huge surplus in rice, maize and cotton," the advisor tweeted.

Meanwhile, Spokesperson to Finance Minister, Muzammil Aslam, said the economy of the country was moving in the right direction and deplored that media was misleading the masses. In a statement issued here, he said the inflation was rising all across the world for last four months.

IMF validating data, negotiations moving in right direction: Tarin

Quoting the Food and Agriculture Organization (FAO) report, he said the prices of food and beverages increased by 3.9 percent in September and October whereas the prices of edible oil witnessed an increase of 9.6 percent. The prices of dairy products were also increased by 2.6 percent, according to the report.

Aslam said after Covid-19, the whole world was facing hard times, adding that it was misleading to say that the difficult situation was faced only in Pakistan. Pakistan's economy was growing fast, he said, adding that in October Pakistan's exports grew by 17.5 percent which was highest in the last eight years. For the first time in Pakistan's history, the export target would reach US $ 30 billion this year.

During July-October textile exports increased to US $ 6 billion whereas tax revenues were increased by 37 percent. In last four months, the government had collected Rs151 billion in income tax and cotton production was also increased by 81 percent. Aslam said the industry had also grown by 12.25 percent and the economy would improve further in the coming days.