Minister Farrukh Habib terms 5.37% economic growth amid challenges as achievement

ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Wednesday termed the growth rate of 5.37 per cent despite huge global challenges as an accomplishment of the incumbent government.

In a tweet, the state minister wrote that a sustainable growth rate of 5.37 per cent despite Covid-19, global high inflation, and other economic challenges is an achievement.

He added that exports, tax collection, and agricultural yield showed upward trends.

Further, Habib also mentioned that Information Technology (IT) exports increased by 35.8 per cent, Federal Board of Revenue (FBR) tax recovery by 32.4 per cent whereas State Bank of Pakistan (SBP) reserves by 31.8 percent in the first half of the current fiscal year.

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Textile exports, he said increased by 26 per cent, services exports by 20.4 per cent, remittances increased by 13.3 per cent.

Habib wrote that the production of crops including cotton, rice, sugarcane, wheat, and maize increased which brought income of billions of rupees to the farmers while increasing their purchasing power.