PM Welcomes Improvement in Key Economic Indicators

Prime Minister Shehbaz Sharif has welcomed the improvement in key economic indicators reflected in the monthly economic outlook report. He said a significant increase in remittances reflects the confidence of overseas Pakistanis in the country's economy, noting remittances rose from $6.3 billion in July and August to over $7.3 billion, with a 16.5% year-on-year increase in August. He termed overseas Pakistanis a valuable national asset who send their hard-earned money back home.

Trade and Investment Gains

The PM said a 4% increase in exports is an encouraging development, with the government taking measures to facilitate the export sector and SMEs. He said the decline in the current account deficit and rise in foreign direct investment reflect positive progress toward economic stability, with overall foreign investment increasing by 80.2% in July and August, reflecting growing investor confidence.

Reserves and Manufacturing

Shehbaz said foreign exchange reserves reaching $26.8 billion indicate improvement in the external sector, while large-scale manufacturing grew 3.03% in July. He also welcomed a surge in agricultural lending as an important development for farmers and the agriculture sector.

Business Activity on the Rise

The PM said a 38.8% increase in company registrations to 10,199 in July reflects growing business activity, while a significant rise in the Pakistan Stock Exchange reflects improved investor confidence.

Looking Ahead

Shehbaz Sharif said the government will continue implementing reforms and effective economic policies, reiterating that transforming Pakistan into a strong, stable, and sustainable economy remains the top priority, with efforts aimed at ensuring economic stability benefits reach the people through more employment and business opportunities.