According to Planning and Development Minister Asad Umar, car sales in Pakistan increased by 31% in the first nine months of this fiscal year compared to the same time last year.
The minister said on Twitter that private sector borrowing from banks, which is considered the most significant macro indicator, increased by 34% during this time span.
Umar pointed out, adding, “Widespread growth visible while running a current account surplus, which unlike past makes growth sustainable.”
Because of the federal and provincial governments’ lockdowns to contain the first wave of the novel coronavirus, car production and sales fall to zero in April last year (COVID-19).
