October 22, 2018 (MLN): Addressing a ceremony of stock brokers association at the Pakistan Stock Exchange (PSX) on Saturday, Asad Umar said that “The media is portraying the country’s economy as collapsing but that is not the case. No alarm bells are ringing.”
He told the Exchange that the country’s current account deficit which had earlier risen from $2.5 billion to $18 billion, has now begun to decline, adding that exports and remittances are witnessing a healthy trend as well. However, “the country’s investment is low due to taxation, which will soon be fixed,” he admitted
Content with the progress of his governance so far, the finance minister told the listeners that due to measures taken by the new government, the country’s economic indicators have now started moving in the right direction.
Acknowledging the need for urgent remedial measures to recover from capital markets’ recent poor performance, he said that, “there is tremendous room for growth in the stock market,” and that steps are currently being considered to restore investors’ confidence.
