Pakistan’s exports witnessed ‘strong growth’ this year, says Economic Affairs minister

• Hammad Azhar has said that better economic policies of Pakistan Tehreek-e-Insaf (PTI) government have started bearing fruit.
• The foreign direct investment increased 137 percent during the first quarter of current fiscal year.

Minister for Economic Affairs Hammad Azhar said in a tweet on Wednesday that the country’s exports increased by 12 percent in the financial year 2018-19, quoting State Bank of Pakistan (SBP) for the source of the data.

The minister further took to his Twitter and said that Pakistan's exports witnessed ‘strong growth’ from July-Sep 19 period [i.e. the first quarter of current fiscal year], using Pakistan Bureau of Statistic (PBS) data as evidence.

Exports volume growth. Exports volumes grew 12% during FY18-19. (Source SBP).

Strong growth witnessed from July-Sep 19 period too this year. (Source PBS). pic.twitter.com/U9BON1ysbU

— Hammad Azhar (@Hammad_Azhar) November 6, 2019

Earlier, the minister had said that better economic policies of Pakistan Tehreek-e-Insaf (PTI) government have started bearing fruit with decrease in current account and fiscal deficits and increase in foreign direct investment, revenue collection and tax base.

“There has been an increase of 137 percent in foreign direct investment (FDI) during the first quarter of current fiscal year. Fiscal deficit has been reduced by 50 percent in first three months of the financial year. Primary budget balance noted a surplus of Rs 385 billion, foreign investment of $350 million came to Pakistan, and foreign exchange reserves witnessed an increase of $650 million. The registration of tax filers increased by 55 percent," the minister said while addressing a press conference on Tuesday.

The minister further said that that Prime Minister Imran Khan has amicably resolved the Karkey dispute with the help of Turkish President Tayyip Erdogan.