Pakistan Finance Minister Shaukat Tarin has said that the foreign exchange overseas Pakistanis sent back home helped Pakistan keep its current account balance in surplus for the last 10 months. “It shows that overseas Pakistanis have especial relation with Imran Khan,” Tarin said while unveiling Pakistan Economic Survey 2020-21. The remittances stand at $26.74 billion in the first 11 months of fiscal year 2020-21. He said that all international agencies such as the World Bank predicted that remittances would fall last year since their economies were also underperforming amid the pandemic. He said that remittances played important role in keeping Pakistan’s current account balan.
Telecom Sector Invested Over $465 Million In FY21: Economic Survey
The telecom sector has continued making investments in Pakistan over the expansion and upgrading of its network of infrastructure and services across the country as various telecom operators invested an amount of $465 million during the period of July to February, according to Pakistan Economic Survey 2020-21.
The operators made investments of $363.9 million on various capital and operational projects whereas, foreign direct investment to the tune of $10.1 million was received during the said period, the survey reported citing the data of the State Bank of Pakistan.
The main driver behind this investment is the cellular mobile sector, which has invested $253.5 million during the period. However, the telecom sector invested over $1.61 billion in the previous financial year 2019-20.
Pakistan Economic Survey 2020-21 to be Launched Tomorrow
The Federal Minister for Finance and Revenue, Shaukat Tarin, will launch the ‘Pakistan Economic Survey, 2020-21,’ in a ceremony tomorrow, June 10, 2021.
The Economic Survey will provide comprehensive details on the major socio-economic achievements during the financial year 2020-21 (FY2021).
The Government of Pakistan is firmly committed to presenting a pro-people, business-friendly, and growth-oriented Federal Budget for the fiscal year 2021-2021 (FY2022).
ALSO READ
Shaukat Tarin to launch Pakistan Economic Survey 2020-21 tomorrow
By
Federal Minister for Finance and Revenue, Shaukat Tarin. Photo: File.
The Federal Minister for Finance and Revenue, Shaukat Tarin, will launch the Pakistan Economic Survey 2020-21 tomorrow, 10th June 2021.
The economic survey will provide comprehensive details on the major socio-economic achievements during the financial year, 2020-21.
The government said it is firmly committed to presenting a pro-people, business-friendly, and growth-oriented federal budget for the fiscal year 2021-22.
The government said it will pursue all-inclusive, sustained and robust economic growth through short, medium, and long-term economic planning.
Related items