ISLAMABAD, Pakistan: The Federal Minister for Finance Miftah Ismail has expressed the government’s resolve to keep imports and Current Account Deficit (CAD) under control.
In a tweet on Wednesday, the finance minister said that there has been 20 percent reduction in imports during the current month as compared to corresponding period last year.
Miftah Ismail appreciated the State Bank of Pakistan‘s measures in this regard.
Imports to July 18 have been $2.6b, 20% below last year. We will end the month at $5.5b. The runaway imports from last year have come under control this month thanks to SBP measures. Will continue with these measures in the near term to ensure imports & CAD remain under control.
— Miftah Ismail (@MiftahIsmail) July 20, 2022
Earlier talking to a Private News Channel, Miftah Ismail said that the implementation of the agreement with the International Monitory Fund (IMF) is must for reviving the economy.
The minister said that the incumbent government is bound to fulfil the conditions under the soft agreement inked with the IMF to save the Country from default.
The finance minister said that efforts are being made to curtail imports and increase exports.