Economic indicators positive in first quarter of financial year: Hafeez Sheikh
- By Web Desk -
- Oct 30, 2019
ISLAMABAD: Adviser on Finance Hafeez Sheikh says the statistics of the first quarter of the current financial year indicate that the country’s economy is on the right track, gradually stabilizing.
He gave the remarks during a meeting with Pakistan’s Permanent Representative at the United Nations Munir Akram.
Read More: Rice exports soar by over 50 per cent in first quarter of FY20
Hafeez Sheikh informed Munir Akram about measures being undertaken for improvement of national economy and their positive results.
The National Highway Authority (NHA) has broken its own record of the previous fiscal year as its revenue reached Rs10.41 billion in the first quarter of the current financial year.
The positive policies of the federal government have started bearing fruit as the National Highway Authority (NHA), an organisation working under the Ministry of Communications, collected record revenue in the first quarter of the current year up to 32 per cent which stood at Rs7.46 billion last year.
Read: Communication Ministry recovers over Rs1.32bn embezzled by previous govts
The ministry has released a quarterly evaluation report of its income as the overall revenue collection of the institution increased up to more than Rs20 billion during the tenure of Federal Minister Murad Saeed.
Earlier on July 17, the income of the Ministry of Communications had witnessed the historic increase by 51 per cent as per an evaluation report issued by the federal government.
The figures were disclosed in a report of performance and expenditures of the ministry during the last 11 months. According to the report, the revenue of the communication ministry has boosted to Rs43 billion.
Read: Communications ministry recovers Rs7.88 billion through audit
Federal Minister for Communications and Postal Services Murad Saeed recovered Rs7 billion and deposited the amount to the national kitty. The report said billions of rupees were also recovered under the anti-encroachment campaign of the government.