State Bank’s reserves have risen from $8b to $12.5b: Shibli

Islamabad, August 11 (Online Int’l): Minister for Information and Broadcasting, Shibli Faraz has stated that Sate Bank’s reserves have increased to 12.5 billion dollars from 8 billion dollars due to prudent economic policies of the government, says in media reports.

Briefing the news men about the decisions taken in the Federal Cabinet meeting on Tuesday, he said when we came into power the current account deficit was at 20 billion dollars and in two years we brought it to three billion dollars by reducing it to 17 billion dollars.

The Minister said under Ehsaas program, the government has distributed financial assistance to fifteen million families.  He said the government adopted the policy of reducing important imports and increased exports which resulted in the strengthening of country’s economy.

Shibli Faraz said the Cabinet was apprised that a historical relief package for the construction sector and resumption of construction activities will create jobs.

He said the Prime Minister was informed that 891 million rupees have been paid to media for their outstanding due on the account of advertisements. He said under anti-encroachment drive of the government, illegal constructions on Srinagar Highway were retrieved and trees were planted.

Shibli Faraz said those who chanted the slogan of strict lockdown are not visible today. He said by the grace of Allah Almighty, Coronavirus pandemic caused less damage to our country than in the developed countries.

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