Sustained Current Account Surplus is a Testament to Correct Economic Policies: PM Shehbaz

ISLAMABAD: Prime Minister Shahbaz Sharif has stated that the continued surplus in the current account balance is a reflection of the government’s sound economic policies, and positive economic indicators are a sign of growing confidence among the business community.

The country’s current account balance has remained in surplus for the first six months of the fiscal year, marking the fifth consecutive time this has happened. During the first half of the fiscal year, after all external payments, the current account recorded a surplus of $1.2 billion.

Prime Minister Sharif emphasized that this persistent surplus is a clear endorsement of the government’s economic direction and the trust the business community has in Pakistan’s economic policies. He further stated that programs like “Udaan Pakistan” would provide additional support to strengthen the national economy.

He noted that Pakistan is actively working to increase the surplus further during the current fiscal year.

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In a separate meeting on making Pakistan a Transit Trade Center, the Prime Minister highlighted that improvements in tracking systems had led to a significant reduction in smuggling. He added that the reduction in smuggling allowed Pakistan to export $211 million worth of sugar to Afghanistan this year. A streamlined communication system would help establish Pakistan as a central hub for transit trade between countries.

The Prime Minister also instructed the establishment of a cargo scanning system in Karachi and other major commercial hubs and called for third-party validation of cargo tracking services to ensure high standards.