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Abdul Hafeez Sheikh and Shabbar Zaidi joint press Conference on present Economic Condition

Speaking at a press conference with Chairman FBR in Islamabad, Hafeez Sheikh said that difficult decisions of the government are improving the economy. He says foreign investors’ confidence in Pakistan’s economy has been restored and investment of $ 340 million has come in the last three months. Hafiz Sheikh said that the trade deficit this fiscal has been reduced from $ 9 billion to $ 5.7 billion, while more money has been released this year than in the last fiscal year.

He said the State Bank’s profit in the first three months of this fiscal is Rs 85 billion, which could increase by Rs 200 billion.
Advisor Finance said that the profit of the Pakistan Telecommunication Authority (PTA) profit is now Rs 70 billion, telecom could generate an additional profit of Rs 338 billion, while privatization of LNG plant could generate additional profit of Rs 300 billion.

Abdul Hafeez Said that to prevent money laundering, all entities have a stance that money laundering should be stopped.
Talking about the Financial Action Task Force (FATF), Hafeez Sheikh said that 20 out of 27 steps have been taken, the effort is to get out of the gray list as soon as possible.


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