As per the Statement of the Finance Minister, Asad Umar, the international industry of the Country is in a very Challenging Scenario, any upcoming Minister of Finance would be going through these tough challenges.
He additionally Stated, that the condition was not as miserable as what it was, three years back.
Responding to a Question by the press, He stated, that ““Irrespective of the circumstances, it is a difficult situation. If we win the next elections and form the government, it will be a difficult task for [Finance Minister] Shaukat Tarin to handle the external sector situation”.
The Outcomes of the Labor Force Survey 2021, was being revealed by the Minister, and this demonstrated that the Economy has been expanded to 5.54 Million New Jobs during the month of June 2018 and June 2019. Considerably Higher than the performance of the past year.
Umar responded to the Question regarding the fact that if PTI was also going to prepare Landmines in the state of huge imbalance in the current account, and less foreign exchange reserves. “The Condition of the international sector is bad but not as Catastrophic as it was in 2018.”
Before the Elections in 2018, The current Account Deficit was expanding very quickly, the increasing rate was approximately, $2 Billion in one month, in the three months before PTI’s Government was constituted, as per the Minister’s statement.
In the Fiscal year, the Current Account Deficit was about, $19 Billion which was concluded in the month of June 2018.
In the first eight Months of this Fiscal year, The deficit has been increased by more than $12 Billion, and the Estimations indicate that it will cross $13 Billion by the end of this year.
