Economic indicators become positive due to prudent policies: Hafeez


ISLAMABAD, Jan 19 (Online): Minister for Finance and Revenue Hafeez Sheikh has said due to the government’s tough, result-oriented decisions and prudent policies economic indicators now have become positive.
Speaking in the Senate, he said soon after coming into power, the country foreign reserves had dipped to $ 9 billion from $ 18 billion adding that the gap between exports and imports had also widen to $ 32-35 billion.
He said government had to take tough decisions to cope with the challenges and its top priority was to save the country from the impending default.
Hafeez Sheikh said now the country is going towards stability owing to the steps taken by the government and the current account is now in surplus and country’s exports witnessed sharp increase after the decades in textile sector.
Moreover, the large scale manufacturing industry was also on path of recovery and witnessed a growth of 7.5 per cent.
The minister said the government is investing in such programmes which help generate employment opportunities.