Corporate sector made Rs929bn profit last year: minister of state

ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Wednesday said the corporate sector made a profit of Rs 929 billion during the last year as a result of Prime Minister Imran Khan’s business-friendly policies.

In a tweet, he said during the PML-N government in 2018, the profit was 587 billion rupees.

The minister said 70,000 new companies were registered with 44 percent increase during the PTI government; whereas, 25,856 companies got registered in the PML-N’s five-year term.

In the first three quarters of the current fiscal year, these companies have registered a profit of 258 billion rupees. Habib said new records have been set during the three years of the PTI government.

He said despite the Covid-19 pandemic, 494 percent growth was witnessed in the real estate sector, 194 percent in information technology, and 136 percent in the tourism sector.

Copyright Business Recorder, 2021