Spokesman Report
ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail on Sunday said the government is currently trying to reduce the trade deficit to stabilize the rupee against the dollar.
He said that for the last three months, efforts have been made to reduce imports and the results are now coming out.
Imports in this month of July reached $5 billion dollars, which was 7.7 billion dollars in the previous month of June 2022.
Federal Minister for Finance and Revenue Miftah Ismail expressed these views while addressing the press conference alongwith Prime Minister’s Coordinator on Economy, Bilal AzharKayani.
Thus, compared to the previous month, imports decreased by $2.7 billion dollars during the month of July 2022, he said.
The minister said that these economic measures of the government will stabilize the value of the rupee against the dollar.
Miftah said that some imports including mobile phones, vehicles and home appliances are still banned.
These measures aimed to reduce the trade deficit in the country’s economy, which will bring economic stability to the country, he said.
He expressed the hope that the current account deficit will be reduced this year 2022.
He said that “we are not working on the rate of inflation but on getting the country out of economic challenges.”
The minister said that now the full focus of the government is to increase domestic exports, which will be given full attention in the next three months.
He said that “we are trying our level best to build the economy in the right direction, in which, “we are getting success to a great extent.”
The minister said that the former government of Pakistan Tehreek- e – Insaf (PTI) has played a role in bringing the economy to this state of affairs.
He said that former Prime Minister Imran Khan is responsible for this, due to his wrong economic policies, the economy has reached at this point.
He said that the former PTI government has increased the budget deficit every year due to which the economy is suffering today.
Miftah said that the previous government did not make any economic reforms but only produce everything look good on the media?
He said that Imran Khan has demoted every department and proved his incompetence. He said that the PTI government did not fulfill the promise of five million houses.
The minister said the previous government extended a circular debt of Rs 1400 billion in the energy sector alone.
He demanded before the court to hear foreign funding case against PTI soon.
Meanwhile, he announced tax exemption for traders consuming less than 150 units of electricity.
