Islamabad (TDI): Pakistan’s economy achieved a record current account surplus of 729 million dollars (72 crore and 90 lakh dollars) in November, marking the second-largest surplus since July 2013, state-run broadcaster, Radio Pakistan, reported on Friday.
The improvement in the current account surplus is attributed to the contributions of the Special Investment Facilitation Council and an increase in foreign exchange reserves.
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No doubt the country is facing issues in Tax collection and other challenges. Yet, its exports is on increase with record hit in exports of food items. Exports and other sectors besides international assistance reflecting positively on the country economy, Experts maintain.
For the first five months of the current financial year, the current account surplus is nearing one billion dollars. Additionally, the economy has seen a rise in remittances, driven by a crackdown on illegal currency trading.
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Total remittances are expected to reach 35 billion dollars in the fiscal year 2025.
Moreover, there has been an increase of one billion dollars in exports, with the exports of services reaching 3.276 billion dollars.
