Pakistan’s Finance Minister Abdul Hafeez Sheikh has said that due to prudent and results-oriented government decisions and policies, the economic performance of the country is currently stable and in a positive direction.

Speaking in the Senate, the country’s foreign exchange reserves fell to $ 9 billion from $ 18 billion when he took charge of the office, adding that the gap between exports and imports also widened to $ 32-35 billion.

He said the government had to take tough decisions to face the challenges and its top priority is to save the country from imminent default.

Hafiz Sheikh said the country is now moving towards stability thanks to steps taken by the government, and that the current account is currently in surplus and the country’s exports have increased dramatically after decades in the textile sector.

Moreover, the large manufacturing industry was also on track to recover, posting an increase of 7.5 percent. The minister further said the government is investing in programs that help create jobs.

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