Exports increase to $25 bn: Hammad Azhar

ISLAMABAD: Minister of State for Revenue Hammad Azhar her on Thursday said that exports had increased to 25 billion dollars and the government was committed to enhance them further to strengthen economy.

Responding to a question in Senate, Azhar said, “Remittances this year will increase to 22 billion dollars breaking the stagnant mode of the previous years.”

He said work on NFC Award was underway and the government was committed to provide due share to the erstwhile FATA.

The minister told the senate,” Inflation rate in April reduced to 8.8 percent from 9.4 percent in March.” He said the inflation rate in the first eight months of PTI government was the lowest as compared to the corresponding period in the last two governments.

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He said talks with IMF were at the final stage and its details would soon be shared with the parliament.

About reforms in Federal Board of Revenue, the minister said internal audit wing of the department would be made autonomous to remove the conflict of interest within the organization.

Azhar said findings of Egmont Group, an informal network of 159 financial intelligence units to control money laundering, would be incorporated in Anti-Money Laundering Act.

He said, “After incorporating findings of the group Pakistan will be in a strong position to become member of the group, and this membership will enable Pakistan to have technical assistance in forensic and tracing of money trails data.”