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Stock markets witness continuous stability as economic conditions improve: Faraz

  • Information minister says State Bank's reserves have reached $12.5 billion which is a welcoming sign
Updated 11 Aug 2020

(Karachi) Information Minister Shibli Faraz has said that continuous stability has been witnessed in stock markets due to improving economic conditions.

Addressing a media briefing after the cabinet meeting on Tuesday, he said that the finance advisor gave a detailed briefing on current economic condition as the government is nearing two years of its rule.

He said economy is heading in the right direction while exports have increased. He maintained that the economic deficit stands at 8.1 percent as compared to the speculated 9.1 percent. Faraz mentioned that State Bank's reserves have reached $12.5 billion which is a welcoming sign.

He stated that when the PTI government came into power, the current account deficit was $20 billion while now it stands at $3 billion.

Shibli said that 80 percent dues of media organizations have been paid while the prime minister has instructed to clear remaining dues within 24 hours.