Pakistan’s economy to recover considerably by next year: Reza Baqir

News Image

MG News | October 10, 2019 at 12:34 PM GMT+05:00

0:00

October 10, 2019 (MLN): The Governor of State Bank of Pakistan (SBP), Dr. Reza Baqir on Thursday said that the depreciation of local currency has helped in curtailing the Current Account Deficit (CAD) to almost half of what it was in FY2017.

During a seminar held in local hotel to discuss the current economic challenges of the country, the Governor said that the freezing of Pakistani Rupee in the past had caused the CAD to rise.

Shedding some light on the role of International Monetary Fund (IMF), Dr. Baqir iterated that as a lender of last resort, IMF only provides financial assistance when it is certain that the country has the potential to pay back.

Governor SBP also informed that the government was moving towards digitalization to easy the process of documenting economy.

Furthermore, he informed that the tax collection by the Federal Board of Revenue had improved considerably.

He also stated that the economy of Pakistan was moving in the right direction, and that the positive impact of the harsh measures taken by the government would be visible by next year.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,185.00 120,695.00
116,090.00
-3050.00
-2.54%
BRENT CRUDE 68.82 69.41
68.60
-0.39
-0.56%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.68 67.13
66.22
-0.30
-0.45%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg