IMF Team Recommends Release Of 2nd Tranche To Pak : Dr. Hafeez

Advisor to PM on Finance Dr. Abdul Hafeez Sheikh said, all economic indicators have shown upward trajectory in the first quarter and I.M.F. And other International Organizations have recognized Pakistan's Economic Progress.

Addressing a News Conference flanked by Federal Ministers and F.B.R. Chairman in Islamabad, Dr. Hafeez Sheikh said, the I.M.F. Has recommended second tranche for Pakistan seeing overall economic progress.

He said, the government steps taken for the betterment of economy are gradually yielding positive results.

Dr. Hafeez Sheikh stated that the trade deficit has reduced while Fiscal deficit has also shown downward Trajectory in the first four months of the current Fiscal Year.

PM'S Advisor on Finance also highlighted that the exports have witnessed upward trajectory for the first time in the past five years.

Stating that the construction sector has shown considerable progress, Dr. Hafeez Sheikh said, 5.5 percent increase has been witnessed in the Cement production during the first quarter.

He stated that the domestic tax net has increased by 21 percent while government has paid Foreign Loans worth 2.1 Billion Dollar.

Highlighting government's priority areas, Dr, Hafeez Sheikh said, we are focused on increasing exports besides offering Loans to the exporters on easy terms.

To a question, PM'S Advisor on Finance hoped that the government will successfully surpass growth rate target set for the current Fiscal year.