Federal Minister for Information Fawad Chaudhry refuted claims of economic weakness.
Briefing the media after the meeting of the Federal Cabinet on Tuesday, the Federal Minister for Information said that all the economic indicators in Pakistan are positive at present, the country’s economic situation is clearly showing stability.
The textile sector grew by 30%
He said that today the economic situation in the country is improving, the textile sector grew by 30% whereas last year IT exports were 47%, this year it has reached 38%, it is expected to double by the end of the year. Will be
Fawad Chaudhry said that income tax has increased by 31% and record production of all crops has been achieved. Growth can be estimated.
The cotton crop increased by 19.5 per cent while the rice production increased by 8.8 million tonnes
He said that cotton crop has increased by 19.5% while rice production has increased to 8.8 million tons which is the largest production in the history of Pakistan. Besides, sugarcane crop has produced 88.1 million tons. Is the largest production in the history of
The Federal Minister for Information said that the production of wheat last year was 27.3 million metric tons and that of maize was 8.5 million tons.
Besides, he said that due to auto policy, the auto sector has also improved. At present, 240,000 vehicles are being manufactured in Pakistan. Our target is to achieve the target of 500,000 vehicles. As a result, I will develop the whole industry, the real success will be that these cars are manufactured in Pakistan.
In 2 years, the number of car manufacturers has increased from 5 to 15
Fawad Chaudhry said that the number of car manufacturers has increased from 5 to 15 in the last two years while new investments are being made in the car manufacturing sector. Increased financing to Rs. 338 billion.
He said that 85% of motorcycles are being manufactured in Pakistan, their parts are also manufactured locally, sales of motorcycles, jeeps, tractors and cars have increased historically.
He added that sales of Suzuki Cultus increased by 161%, sales of Suzuki Wagon R by 79%, sales of Suzuki Bolan by 32% and sales of Suzuki Alto by 180%.
Besides, Fawad Chaudhry said that power consumption has increased by 13% and diesel consumption by 26%.
He said that economic indicators in Pakistan are going positive, when there is economic growth, employment opportunities are also created in the textile sector, agriculture sector and textile sector.
Foreign exchange reserves increase from 20 20.3 billion to a record 25 25.2 billion
He said that our foreign exchange reserves have increased from 20 20.3 billion to .2 25.2 billion while the volume of exports has increased by 29% over the previous year.
In addition, there has been a 44% increase in private businesses. At present, there are 200,000 companies registered with the SECP in Pakistan. Out of these, 150,000 companies have been formed in the last three years. How I grew my business.