BREAKING NEWS

Govt Focusing on Consolidating Macroeconomic Stability Gains: Bilal

Islamabad: Minister of State for Finance Bilal Azhar Kayani has announced that the government is concentrating on consolidating the macroeconomic stability gains achieved during the fiscal year 2025, aiming to propel Pakistan's economy towards export-led, inclusive, and sustainable growth.

According to Radio Pakistan, Kayani highlighted in a social media post that under Prime Minister Shehbaz Sharif's leadership, Pakistan recorded its first annual Current Account surplus in 14 years during FY 2025. The surplus amounted to 2.1 billion dollars, marking a significant turnaround from the 2.1 billion dollar deficit recorded in FY 2024, representing a positive swing of 4.2 billion dollars in just one year. Kayani noted this as the largest Current Account surplus in 22 years, attributing it to the broader macroeconomic stability and recovery achieved by the government over the last fiscal year.

Additionally, Kayani pointed out a substantial increase in workers' remittances, which rose by 26.6 percent to 38.3 billion dollars, reflecting an increase of 8 billion dollars. He attributed this growth to the confidence of Overseas Pakistanis in the government's economic policies. The exports of goods also saw a rise of 4.2 percent to 32.3 billion dollars, an increase of 1.3 billion dollars compared to the previous year.

Moreover, the exports of services grew by 9.1 percent to 8.4 billion dollars, with an increase of 703 million dollars during FY 2025. Particularly noteworthy was the growth in IT and Telecom Services exports, which grew by 18.1 percent to 3.8 billion dollars, an increase of 586 million dollars from the previous year.