Pakistan now heading in proper path: Miftah Ismail

He stated the excessive worth of vitality imports not too long ago pushed Pakistan to the brink of a steadiness of funds disaster.

The Finance Minister stated Pakistan’s overseas forex reserves fell as little as 9.8 billion {dollars}, which had been hardly sufficient for 5 weeks of imports, whereas the Pakistani rupee weakened to report lows towards the US greenback this yr.

He stated the worldwide rise in costs of oil, and different commodities prompted inflation within the nation. Nonetheless, he stated Pakistan is now on the right track.

Miftah Ismail stated the federal government has raised taxes, eliminated unfunded subsidies on oil and energy sectors and diminished imports in current weeks, to push the nation out of financial problem.

He stated Pakistani rupee has come again about seven % or so towards the US greenback within the final week