Remittances up to $38 billion, inflation down to 2%: Ahsan Iqbal

ISLAMABAD: Federal Minister for Planning Ahsan Iqbal has claimed that Pakistan’s recent economic achievements have surprised global analysts, with international agencies describing Pakistan’s economic recovery as mini-miracle Talking to the media in Islamabad, he said that positive progress is being made in the country under the ongoing project ‘Udaan Pakistan’ and the improvement of the economy is the result of a collective national effort.

Ahsan Iqbal said that the spirit and solidarity with which Pakistan has achieved success in the field of defense, the same teamwork, is now needed to strengthen the economy. He said that wars are not won by resources alone, but by spirit and capability. Remittances are expected to reach $38 billion this year, which will be a new milestone. Referring to the significant improvement in the economy, the planning minister said that inflation has come down from 40% to 2%. The policy rate has come down from 23 percent to 11 percent. He said that effective steps will be taken to increase exports through the use of technology in the next budget. Pakistan’s economy is now moving in the right direction.