Federal Minister for Finance and Revenue Miftah Ismail has voiced hope that there will be a turnaround in the country’s economic situation soon as talks are underway with the International Monetary Fund (IMF).
In a tweet on Friday, the minister said that the country’s current account deficit during April came down to $623 million, less than half of the average for the first nine months of 2021-22.
“This is a very good sign for external stability,” he remarked.“With positive IMF talks underway, we expect a turnaround in the economic situation very soon,” he tweeted.
The minister thanked the foreign multinationals that operate in Pakistan and pay a large amount of taxes, provide employment and bring technology. Moreover, he requested them to present a plan to export out of Pakistan and offered to give them tax breaks for that.
“I am truly grateful to all the foreign multinationals that operate in Pakistan, pay a large amount of taxes, provide employment and bring in technology.
Published in The Express Tribune, May 21st, 2022.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ