Shehbaz hails economic team
Pakistan’s current account surplus reached US$1.21 billion from July to December in the current fiscal year (2024-25), the State Bank of Pakistan said.
According to the central bank, this marked a substantial improvement compared to the same period in the previous fiscal year, which saw a deficit of US$1.039 billion.
Pakistan’s current account surplus has been steadily improving, with a surplus of US$582 million in December 2024 and US$684 million in November 2024.
Earlier on Thursday, the SBP reported that the total liquid foreign reserves held by the country stood at US$ 16.45billion as of 10th January 2025.
According to the SBP, the foreign reserves held by the central bank stood at US$ 11.7 billion while net foreign reserves held by commercial banks are US$ 4. 7 billion during the period.
“During the week ended on 10-Jan-2025, SBP reserves increased by US$ 30 million to US$ 11,725.0 million,” the central bank added.
Meanwhile, Prime Minister Shehbaz Sharif on Friday hailed the economic team for the current account surplus posted for the third consecutive month, saying the development reflected the trust of the business community in the government and its economic policies.
“The continuous surplus in the current account for October, November, and December 2024 reflected the right direction of economic policies”, the prime minister said in a press statement.
PM Shehbaz said that a surplus of $1.2 billion was recorded in the first six months of the current fiscal year. “We are actively working to further increase the surplus in the current fiscal year, the prime minister added.
The prime minister said that positive economic indicators reflected the growing trust of the business community in the government and its economic policies.
