Islamabad (Web Desk): Minister for Finance and Revenue, Muhammad Aurangzeb on Tuesday revealed that Pakistan achieved a historic record in remittance inflows, reaching an impressive $3.1 billion in February of this year.
Addressing a press briefing alongside Minister of Information and Broadcasting Attaullah Tarar in Islamabad, the finance minister extended his heartfelt appreciation to Pakistanis living abroad, acknowledging their significant role in the country's economic stability.
He further mentioned that the contributions of overseas Pakistanis are not just a source of financial support, but also essential to the nation’s prosperity.
The finance minister said that with the help of these remittances, Pakistan is expected to complete the current year at an all-time high annual inflow of $36 billion.
Muhammad Aurangzeb also cited findings from independent surveys conducted in the last quarter, which pointed to an increase in both business and consumer confidence.
This, he explained, reflects the growing momentum in industrial activities across the country.
Additionally, he noted that the country's stock market has seen a surge in participation, with 52,000 new investors joining in recent months. Over the past year, seven companies have gone public, a significant jump compared to previous years.
Speaking about the concerns regarding the sugar market, the finance minister shared that under the guidance of the Prime Minister Shehbaz Sharif, the Federal Board of Revenue (FBR) has rolled out an advanced and automated monitoring system for sugar production.
He said that this initiative aims to introduce five key oversight measures to ensure transparency and efficiency in production while reducing illegal hoarding and profiteering by ensuring that sugar is supplied directly to authorized distributors.
