Abb Takk News

Pakistan’s Economic Situation Is Improving Rapidly: Hammad Azhar

JEDDAH: Federal Minister for economic Affairs Hammad Azhar has said that Pakistan’s economic conditions are getting improved rapidly.

Holding a presser with Pakistan ambassador to Saudi Arabia and counsel general Khalid Majeed, the Federal Minister said that we receive an amount from Islamic Development Bank on a short term basis for a period of one year commercially.

He said that he has talked to Chief Operating Officer (COO) of Islamic Bank and COO of IDBM to increase the amount and more activation.

The Minister Informed that IDB since its inception has granted as many as 12 billion dollars to Pakistan and it has been seen for some times its projects has decreased.

He said that he had called on the President of IDB today to increase project in Pakistan.

Replying to a query, the financial affairs minister said that Pakistan economic state has been improving rapidly adding that we had an issue of a foreign exchange which overcame by the PTI government after coming to power.

He said that the current account deficit lowered down 70 percent while the deficit for the first time in the last four years lowered in the month of October.

Hammad Azhar said that we wanted to improve the Islamic Banking System in our country.