Ten percent increase in remittances to create positive impact: Finance Ministry

ISLAMABAD: Spokesperson of Finance Ministry Dr Khaqan Mujeeb on Saturday stated ten % enhance was recorded within the first six months of the incumbent authorities, ARY Information reported.

“The rise in remittances will create a constructive influence on steadiness of fee,” he stated in a tweet.

Dr Khaqan Mujeeb urged the abroad Pakistanis to ship extra remittances to strengthen financial system of the nation.

He stated the federal government’s prudent financial insurance policies have been now bearing constructive outcomes.

remit

The finance minister on Friday stated the federal government’s coverage measures had resulted in shrinking of commerce deficit, decline in imports and enhance in exports which augurs nicely for general steadiness of fee of the nation.

The commerce deficit that stood at US$ 17.7 Billion in July- December 2017 has shrunk by 5 % to US$16.eight billion within the corresponding interval in 2018, the Press Data Division reported.

The general imports from July-December 2018 have shrunk by over 2 % from US$ 28.7 billion in July – December 2017 to US$ 28 billion in July – December 2018. This pattern is much more pronounced in respect of imports beneath RD regime, the place the import worth has declined from US$ 5.2 billion in July – December 2017 to US$ 4.Four Billion in July – December 2018, displaying a contraction of 16% (efficient on 1994 tariff traces).

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