Economic achievements

Mohammad Arshad

Following are the major achievements on the economy front during last fiscal year.

• Manufacturing has witnessed broad-based growth as major sectors of LSM have shown significant improvement; first nine months of FY2021 recorded highest period wise growth of 8.99 percent since FY2007.

• Current account posted a surplus of $ 0.8 billion, during July-April, FY2021 for the first time in 17 years.

• Inflows of foreign exchange through the Roshan Digital Account crossed the $1 billion mark.

• During July-April FY2021, workers’ remittances posted historically high growth of 29 percent and reached to $ 24.2 billion.

• SBP’s foreign exchange reserves rose to $16 billion, four-years high.

• FBR tax collection witnessed a significant growth of around 18 percent during July-May FY2021.

• Primary balance remained in surplus at 1.0 percent of GDP, highest level through the first three quarters in 12 years.

• Pakistan has entered the international capital market after a gap of over three years by successfully raising $ 2.5 billion through Euro bonds.

• Sentiments and thus stimulating economic activities enabling employment to recover. The policy rate remained unchanged at 7.0 percent which improved business

• During July-February FY2021, the two gas utility companies (SNGPL & SSGCL) provided additional gas connections including 303,243 domestic, 1,020 commercial and 310 industrial connections across the country.

• Installed capacity of electricity increased to 37,261 MW during July-April FY2021 compared to same period last year, showing an addition of 1,289 MW.

• Likewise, its generation increased to 102,742 GWh showing an additional generation of 6,360 GWh during the period under discussion.

• Cellular mobile subscribers (number of active SIMs) in Pakistan have reached 182 million at the end of March, 2021 compared to 167.3 million by the end of June, 2020 showing an increase of 8.6 percent in nine months of FY2021.