Remittances to increase to US$ 22 billion this year: Hammad Azar

ISLAMABAD, Pakistan: The Senate was informed on Thursday that remittances this year will increase to US$ 22 billion breaking the stagnant mode of the previous years.

During the question hour, the Minister of State for Revenue Hammad Azhar told the House that the Country’s exports have increased to US$ 25 billion and the government is committed to enhance them further to strengthen economy.

Hammad Azhar said that work on National Finance Commission (NFC) award is underway and the Pakistan Tehreek-e-Insaf (PTI)-led federal government is committed to provide due share to the erstwhile FATA.

Responding to a question regarding inflation, the Minister of State said that inflation rate in April 2019 reduced to 8.8 percent from 9.4 percent in March 2019. He said that the inflation rate in the first eight months of the PTI government is the lowest as compared to the corresponding period in the last two governments.

Furthermore, he said that talks with the International Monetary Fund (IMF) are at the final stage and its details will soon be shared with the Parliament.

Talking about reforms in the Federal Board of Revenue (FBR), Hammad Azhar said that Internal Audit Wing of the department will be made autonomous to remove the conflict of interest within the organization.

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