Islamabad
Leader of the House in the Senate, Syed Shibli Faraz said Tuesday that owing to timely policies of the government, the country’s already stabilized economy was now steadily moving towards growth, which is currently also supported by conducive external milieu.
In an exclusive interview with APP here, he said that the incumbent government had received economy in very shabby condition, however it was now improving as indicated by many economic indicators, including declining inflation and rising exports from the country.
In addition, the current condition at external front also turned favourable for Pakistan as the oil prices in the international market were declining, providing cushion for the government to provide relief to the masses, he added.
The decline in oil prices would also create fiscal space for the government and reduce hardships for the common people as it would help further reduce inflation, he said adding the Consumer Price Index (CPI) based inflation has already decelerated to 12.4 percent in February.
He said that the country’s exports were also rising, which is a good sign for economy. He was of the view that although the Corona virus had caused huge damages, however, it also helped Pakistan to enhance its exports by attracting many export orders.
Faraz expressed the hope that Pakistan would come out of Financial Action Task Force’s (FATF) grey list during its upcoming session, scheduled in June this year. He said that the country had already completed 14 points out of 27 point FATF Action Plan and work on others was continuing, which he hoped would be completed before next session to take the country out of grey list.—APP
