Current account deficit shrinks by 44 pc: Senate told

ISLAMABAD: Minister of State for Revenue Hammad Azhar here on Tuesday apprised the Senate that current account deficit reduced by 44 per cent during the tenure of Pakistan Tehreek-e-Insaf’s (PTI) government, ARY News reported.

In response to a calling attention notice, Hammad Azhar said, Opposition presenting wrong statistic to mislead the nation.” He said that external debts reduced to less than half as compared to last year.

He said that the government did not want to artificially control the value of rupee and added that they were striving hard to increase exports. The minister said that the government had formulated new rules to stop transactions through benami accounts.

Hammad Azhar told the Senate that their government was inherited Rs423 billion deficit in public sector and added that they introduced reforms to restore country’s economy.

Read More: Trade deficit shrunk by over 37% in March: Hammad Azhar

Criticizing the performance of former governments, Hammad Azhar said that Pakistan Muslim League-Nawaz (PML-N) government had left behind Rs380 billion deficit while Pakistan Peoples Party (PPP) had left Rs425 billion revenue shortfall.

The minister further said that PPP had approached International Monetary Fund (IMF) seven times while PML-N thrice.

He said that PPP criticizing the current government over replacing finance minister while they had changed four finance ministers in its tenure.