ISLAMABAD: The major economic indicators of the country are depicting positive signs including foreign exchange reserves, workers remittances and investments despite economic challenges being faced by the country.
The latest economic indicators says that production of the Large Scale Manufacturing (LSM) sector expanded 2.2 percent in December, the second positive data point after the four consecutive negative pointS .
"An increase in out-put in Sugar, Petroleum products and Automobile (tractors and buses) were the principal contributing factors to the overall rise in LSM", a latest economic data available said.
It said that export growth has also increased by 38 percent while imports increased by 4 percent in January 2011.
The official data further revealed that workers remittances have amounted to US $ to US $ 6,118 million in July-January 2010-11 as against US $ 5,197 million in the same period of last fiscal year showing an increase of 17.7 percent.
Saudi Arabia,UAE and UK were the largest source of increase in the workers remittances, it said.
The data further revealed that gross foreign exchange reserves including Foreign Current deposits with scheduled banks stood at US $ 17.4 billion as on March 4,2011.
The data said that for the fiscal year 2010-11 (July-February), Federal Board of Revenue (FBR) tax collection stood at Rs.874 billion on net basis as compared to Rs.791 billion in the same period of last financial year, thereby posting an increase of 10.4 percent.
It said that Foreign Direct Investment (FDI) for July -January 2010-11 stood at US $ 947 billion.
The Data further released that the stock of wheat as on March ,03,2011 amounted to 5.04 million tons as against 5.01 million tons in the same period last year.
Similarly, the total reported stock of sugar in the country as on March 4 was slightly over 2,450,228 metric tons , compared to 1,907,695 metric tons last year (February 28,2010).
The data said that the stock of various POL products averaged 13-day on March 4,2011 compared to 11-day on March 04,2010.
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