Finance Minister to announces Investment, trade promotion package on Wednesday

ISLAMABAD, Jan 22 (APP):Minister for Finance Asad Umer would announce Investment, trade, industrial and business promotion packages in the National Assembly on Wednesday.Main focus of the package is to boost manufacturing and exports, encourage low-cost housing and facilitate agricultural financing to promote economic activities, said a statement issued by Ministry of Finance here on Tuesday.Due focus on enhancing ease of doing business, simplifying procedures for setting up businesses, undertaking investment.

The government has included suggestions in this package from various stakeholders including business community, Chambers of Commerce, experts and professionals of Industry.

In the last six months the government has taken concrete steps to strengthen economy. This package is another step in that direction. The poor segment of the society would get maximum benefit from the package.

During last six months of the present government economic numbers have shown better performance.Remittances growth has increased by 10 percent during the first six months while foreign Investment in December 2018 enhanced by 17 percent as compared with December 2017.
Trade deficit in six months shrank by 5 percent and exports grew by two percent, while imports dropped by 2 percent.

With concerted efforts of the present government Current Account deficit in first six months dropped by 4.4 percent as compared to same period last year and pressure on external account is also reducing.
Private sector borrowing reached Rs.496 billion in first six months of CFY compared to Rs 232 billion of same periods last year showing a more than double growth.

During first three months of current Fiscal Year agriculture sector borrowing increased by 36 percent to reach Rs. 212 billion compared to same period last year.