Pakistan records a \\$2.1 billion current account surplus, its highest in 22 years, driven by increased remittances and exports. The positive development follows strict import policies and economic reforms.<\/p>\n
Islamabad, Jul 19 (PTI) Pakistan recorded a current account surplus of USD 2.1 billion during the current fiscal year ending June 30, according to official data.<\/p>\n
Prime Minister Shehbaz Sharif hailed the development as a sign of an improving economy.<\/p>\n
The country faced a perennial issue of balance of payment and periodically rushed to the International Monetary Fund and other financial institutions to get monetary support.<\/p>\n
The latest data of the State Bank of Pakistan (SBP) on Friday showed the current account surplus was recorded at USD 2.1 billion, compared to a deficit of USD 2.1 billion during the previous fiscal year.<\/p>\n
It was apparently achieved following a strict policy to discourage unnecessary imports of luxury items, which were a drain on the current account. Other factors included encouraging remittances by expats and promoting exports of traditional and IT-related items.<\/p>\n
Adviser to the Finance Minister Khurram Schehzad took to X to announce that the surplus was the highest in 22 years. <\/p>\n
\u0093[The] country’s current account for June 2025 closes in a USD 328m surplus, taking the full-year surplus to over USD 2.1bn,\u0094 he wrote.<\/p>\n
Schehzad added that remittances surged by 27 per cent year-on-year to reach a \u0093historic\u0094 USD 38 billion.<\/p>\n
\nHe said that in the current fiscal year, textile exports increased by 7.4 per cent year-on-year to USD 17.9 billion, while IT (information technology) and IT-enabled services exports climbed to USD 4.6 billion \u0097 a year-on-year increase of 44 per cent.<\/p>\n
\u0093Last, but not the least, Pakistan Equities Market (KSE-100) crossed 140,000 points, making a historic mark in its history, with market value crossing Rs 16.8 trillion (close to USD 60bn),\u0094 he wrote.<\/p>\n
Prime Minister Sharif expressed gratitude for the current account surplus, calling it \u0093very welcome\u0094. <\/p>\n
Foreign exchange reserves have exceeded USD 19 billion due to government measures,\u0094 he was quoted as saying in a statement from his office.<\/p>\n
\u0093The main reason for the stability in current account surplus is a significant increase in remittances and exports,\u0094 he added. <\/p>\n
\u0093Improving financial and economic indicators show that the country’s economy is on the path of stability.\u0094<\/p>\n
Sharif said the government is taking priority steps to provide a business and investment-friendly environment in the country.<\/p>\n
Despite the positive development, Pakistan still needs to do a lot, as it is in the middle of an IMF programme of USD 7 billion. <\/p>\n
The 39-month Extended Fund Facility binds it to carry out several reforms, including ending subsidies and privatising several loss-making entities.<\/p>\n","protected":false},"excerpt":{"rendered":"Pakistan records a \\$2.1 billion current account surplus, its highest in 22 years, driven by increased remittances and…\n","protected":false},"author":2,"featured_media":9146,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,9381,9384,46,9383,9380,9382],"class_list":["post-9145","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-current-account-surplus","tag-economic-recovery","tag-economy","tag-exports","tag-pakistan","tag-remittances"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/9145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=9145"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/9145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/9146"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=9145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=9145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=9145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}