Pakistan's economic condition has improved: Dr Reza Baqir

ISLAMABAD: State Bank of Pakistan Governor Dr Reza Baqir here on Monday said that Pakistan’s economic condition had improved due to the positive policies taken by the government, ARY News reported.

Addressing a press conference, the SBP governor said, “Our external deficit and fiscal deficit are being addressed according to our economic plan.”

Baqir said that the government was striving hard to bring economic stability in the country and added that the fiscal deficit was shrinking and vowed to end the uncertainty in the country.

He said that the government was taking measures to restore people’s confidence in the economy and added that Pakistan’s economic future was bright. In the past, government had been interfering in the exchange rate system, he added.

The SBP governor said that the burden of external debt payments reduced due to the devaluation of rupee. He said that exchange rate policy was the part of reform process. Baqir said that the government was not taking loan from SBP during the current fiscal year.

Earlier on June 14, good economic policies ensured a strong national economy, Prime Minister’s Adviser on Finance Abdul Hafeez Shaikh had said.

The adviser was addressing a gathering of the Council of Foreign Relations in Karachi. The governments in the past failed to devise the policies for lasting economic development, the finance adviser had said.