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Business & Finance

Govt spent Rs 6tr on past loans payments, says Faraz

  • He said Rs 1.2 trillion were provided to support different sectors especially the disadvantaged segments of the society in the wake of breakout COVID-19.
27 Jan 2021

The present government spent Rs 6 trillion to pay back the past loans and the interest incurred on them, stated Minister for Information and Broadcasting Shibli Faraz.

Talking to the media persons in Islamabad, Minister for Information and Broadcasting has said the economy stands stabilized as a result of effective policies of the government. He said that the benefits of improvement in economic indicators will reach the masses.

The Information Minister said that the inflation rate has been brought down to single digit and the prices of essential commodities are on the decline.

Faraz informed that Pakistan’s remittances and exports have increased whilst the imports have decreased. He said Large Scale Manufacturing (LSM) is witnessing major growth. The spokesperson said that the present government brought the current account deficit to zero and for few months, it also remained positive, whereas, the country's foreign exchange reserves have also improved.

Shibli Faraz said the opposition is resorting to negative propaganda on the issue of loans taken by the present government. He said Rs 1.2 trillion were provided to support different sectors especially the disadvantaged segments of the society in the wake of breakout COVID-19.