From trade resilience to sustainability
Improved current account, forex reserves provides room to boost investment, exports
KARACHI:
Statistics of trade, exports and imports, as well as manufacturing activities in Pakistan speak volumes about the revival of national economy at a time when the pandemic is raging throughout the world.
Although the number of confirmed Covid-19 cases in Pakistan is closing in on the one million mark and deaths surpassing 22,000, the measures undertaken by various government agencies to revive the economy post-lockdown in March 2020 ensure that the economy is able to cope with the challenges. Pakistan experienced a revival in its trade figures in FY21.
Financial sector remains resilient
Performance of Islamic banking institutions with a 30% increase in assets remained remarkable. PHOTO: FILE
KARACHI:
Under the lead of commercial banks, Pakistan’s entire financial sector continued to perform safe and sound during the challenging times of the Covid-19 pandemic mainly due to their risk-free colossal lending to the cash-strapped government, as the sector’s assets grew by 14% to Rs33.92 trillion during 2020.
The State Bank of Pakistan (SBP) on Wednesday released its Financial Stability Review 2020, according to which the financial system of Pakistan remained resilient during calendar year 2020 - a challenging year marked by the Covid-19 health crisis, which created exceptional uncertainty and contracted economic activity both domestically and internationally.
Pakistan is Exhibiting Strong Economic Indicators During 3rd Covid-19 Wave: Baqir propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.