ISLAMABAD: Soon after taking oath, Dr Abdul Hafeez Shaikh in a briefing to the Prime Minister Imran Khan spoke about increase in foreign direct investment (FDI) as well as tax collection of the Federal Board of Revenue (FBR) and an increase in remittances during the ongoing fiscal year.
The prime minister was chairing the meeting of the government's economic team, and the economic team led by Finance Minister Shaikh told the premier that during the ongoing fiscal year, the primary deficit was surplus, and there was an increase of five percent in the FBR tax collection, 27 percent increase in the foreign remittances, and 9.1 percent increase in the FDI.
The prime minister was further informed that the State Bank of Pakistan (SBP) stood at US $13.4 billion.
There has been "substantial" increase in the production of auto industry and fertiliser industry of large scale manufacturing (LSM). The prime minister directed that it should be end that the benefits of the economic stability trickled down to the common man.
Earlier, the prime minister tweeted that, "more good news for Pakistan's economy as workers' remittances continued to grow in November - remaining above US $2 billion for a record 6th consecutive month. According to the State Bank of Pakistan (SBP), the prime minister added that the workers' remittances rose to US $2.34 billion, up 2.4 percent over the previous month and 28.4 percent over November 2019".
Later, addressing at the launch and partnership signing of Travel Responsibly for experiencing ECO Tourism (Trek), the prime minister said that Murree in Punjab was deprived of its natural beauty through unplanned settlements. He expressed the confidence that the KPK government would protect the tourism spots in its province.
He further stated that tourism resorts would be sustainable only when the local people would get employment. He said that there was a great potential of tourism, especially mountain tourism.
The partnership was signed among Khyber-Pakhtunkhwa government, the World Bank and Nestle Pakistan. The chief minister KP and other senior officials attended the ceremony.
Copyright Business Recorder, 2020
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