Rs 6 trillion used to pay back the past loans and interest on them: Shibli

News Desk

The Pakistan’s economy stands stabilized as a result of effective policies of the government and the benefits of improvement in economic indicators will reach the masses.

This has been stated by the Federal Minister for Information and Broadcasting Senator Shibli Faraz while talking to the media persons in Islamabad on Wednesday. He said that the inflation has been brought down to single digit and the prices of essential commodities are coming down.

The Information Minister has said that the opposition is resorting to negative propaganda on the issue of loans taken by the present government. He said six trillion rupees were used to pay back the past loans and the interest on them. He said 1.2 trillion rupees were provided to support different sectors especially the disadvantaged segments of the society in the wake of breakout Covid19.

Senator Shili Faraz further stated that our remittances and exports have increased whilst the imports have decreased. He said the large scale manufacturing is witnessing a major growth.

He said that we have brought the current account deficit to zero and for few months, it also remained positive. The country’s foreign exchange reserves have also improved, he said.

Talking about Senate elections, he said the government believes in holding the exercise in the most transparent manner. He said the government has sought guidance of the Supreme Court on the open ballotting.

“We have also prepared a bill on the matter and it will be seen whether or not the opposition supports the legislation,” he added.