Staff Reporter
Islamabad/ Lahore
“Pakistan heading in the right direction as the country’s current account recorded a surplus of $792 million in the first quarter of the ongoing fiscal year 2020-21,” Prime Minister Imran Khan announced on Wednesday.
Moreover, the central bank said that it is the “first quarterly surplus in more than five years”. “Great news for Pakistan. We are headed in the right direction finally,” said PM Imran.
The prime minister shared that the current account was in surplus of $73 million during September, bringing in a surplus for the first quarter to $792 million. He explained that the country had registered a deficit of $1,492 million during the same quarter of the previous year.
“Exports grew 29% and remittances grew 9% over the previous month,” said PM Imran. ‘First quarterly surplus in five years’.
Meanwhile, Prime Minister Imran Khan has expressed dismay over the existing system of forecasting and instructed the Punjab government to use digital technology to monitor and forecast the supply and demand of essential food items.
“I will not tolerate any negligence in providing relief to the masses. All administrative officers must take stern action against hoarders and traders involved in overcharging. Availability of all essential commodities at approved prices should be ensured at all costs,” the premier said on Wednesday.
Imran Khan was presiding over a meeting to review prices and availability of essential commodities in the country’s most populous province during his visit to Punjab’s provincial capital.
The premier said in order to ensure availability of essential food items, the provincial government should plan in advance to avoid any shortage of food items. Latest facilities should also be used for farming and farmers should be given the latest technology to help them improve the yield, he added.
“Pakistan has been blessed with every kind of resource, and using these resources for the welfare of the public is the responsibility of the government,” the premier was quoted as saying.
The premier was told that Sahulat Bazaars are being set up in the province to provide commodities at subsidized prices. The premier said secretaries and district administrations must monitor hoarding and overpricing and should seek assistance in this regard from the Tiger Force.
The Tiger Force is a group of volunteers primarily comprising workers and sympathizers of the ruling PTI.
Punjab chief secretary assured the participants that there was no shortage of wheat and sugar in Punjab. The premier, however, urged that the demand of the commodities should be forecasted in time to avoid any shortage.
Minister for National Food Security Syed Fakhar Imam said the province should ensure availability of wheat in view of its demand in the province.
