Finance Advisor Abdul Hafeez Sheikh has said that a significant increase in the country’s exports is expected in September.
According to details, a meeting of the Monetary and Fiscal Policy Board was held under the chairmanship of Finance Advisor Abdul Hafeez Sheikh, in which the country’s economy, economic indicators and other aspects were reviewed.
The meeting was attended by Trade Adviser, Deputy Chairman Planning Commission, Special Secretary Finance while Governor SBP, Chairman FBR and others also participated.
The Special Secretary Finance gave a detailed briefing on the state of the country’s economy while the Governor SBP appreciated the Technical Committee on Microeconomic Framework.
On the occasion, the Deputy Chairman Planning said that the Corona epidemic has affected the confidence of consumers and investors while the situation is now improving with the government’s relief package and other measures.
The Governor SBP said that the policy rate has been maintained at 7% while the move will boost business activities.
The Governor SBP also said that the monetary policy has been formulated for the purpose of economic recovery and various measures would be taken to reduce the inflationary trend in the next few months.
During the meeting, Abdul Hafeez Sheikh said that exports in the first two months of the financial year stood at 3. 3.6 billion while imports in the first two months of the financial year stood at 6. 6.9 billion.
The finance adviser also said that various measures have helped reduce the trade deficit and the current account surplus has had a positive impact on the exchange rate.
Abdul Hafeez Sheikh said that the policy board has an important and central role in tackling economic challenges, boosting exports, reducing inflation and improving resources while increasing the efficiency of the statistics department is also very important.
Finance Advisor Abdul Hafeez Sheikh added that effective statistics from the Statistics Agency would facilitate policy making and better use of resources through public-private partnerships.