Government of Pakistan says economy is showing signs of recovery. The Federal Board of Revenue also achieved the revised target of eight months.
The Federal Ministry of Finance has expressed hope that economic activity will pick up in the second half of the current financial year and inflation will come down. However, there is uncertainty regarding the rate of inflation during the current month. Inflation is expected to hover between 5.5 and 7.5 during February.
In addition, the Federal Board of Revenue has also achieved the revised target of eight months and during this period, the company has received a total of Rs. 290 billion in revenue with an increase of 6%. According to the data, the FBR received revenue of Rs 327 billion during the month of February.
According to a report released on the economic future, the Ministry of Finance says that the signs of economic growth and improvement are becoming visible and will improve further in the first half of the current financial year.
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According to the Ministry of Finance, there are fears of a decline in cotton crop production, but these concerns could be allayed due to better yields of other kharif crops, as well as the hope of achieving the wheat production target this year in the Rabi season. Is. During the Rabi season this year, urea sales declined by 1.1 per cent to a total of 1,817 tons of urea, while DAP sales also declined by 8.9 per cent to 791 tons.
Statistics show that broad industrial production remained positive on a monthly basis and in December 2020 it increased by 11.4% as compared to December 2019.
According to the ministry, imports are expected to decline in February while exports will increase. According to the Ministry of Finance, loans to the private sector increased by only Rs. 39.80 billion during the last seven months of the current financial year, compared to Rs. 63.80 billion by the private sector in the same period of the previous financial year.