In what comes as surprise to many especially when economies around the world are still battling the Covid crisis, Pakistan’s exports have recorded an impressive growth of 13.4 percent in the last ten months, reported The Express Tribune. 

Aliya Hamza Malik, parliamentary secretary for commerce, informed that the country’s exports are increasing by 13.4 percent and have touched $21 billion during the first ten months of the current fiscal year. 

Calling the figure “unprecedented”, she hoped the exports will touch the mark of $25 billion in the coming days.

Though the inflation rate rose to 8.6 percent in the country, the officer defended the figure, saying countries around the world, too, recorded record inflation during the Covid crisis. Iran recorded inflation at 49.5 percent and Turkey 17.1 percent, Aliya said in a parliamentary committee hearing. 

The government has also decided to import wheat and sugar to control the price hike. Also to support industries, the government has asked banks to reserve at least 10 percent loans for small and medium scale enterprises and 8 percent for the agriculture sector for interest-free loans. 

(SAM)