ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has expressed satisfaction over the overall economic situation in the country as all economic indicators have started showing positive trends due to govt’s timely intervention and introduction of corrective measures. The Prime Minister expressed these views in a meeting with Shaukat Tarin, PM’s Advisor on Finance who called on him here at the PM’s House this afternoon.

Briefing the Prime Minister on the economic situation of the country, Tarin said that Pakistan would receive IMF second tranche of $840 million as per schedule as the country is well ahead in achieving the targets set for the said quarter. He said that due to stringent economic measures the situation of current account has also improved significantly and a deficit of $2.2 Billion recorded previously is now reflecting surplus of $117 million at present.

Talking about the market indicators, Tarin briefed the Prime Minister that market interest rate has decreased from 15.85% to 12.44%. Similarly the Stock exchange of the country is also performing positively and has registered an increase in the trading volume by 29% thus placing itself as one of the best performing stock exchanges of the world, the Advisor added.

Apprising the Prime Minister of the situation of inflation in the country, the Advisor informed the Prime Minister that the inflation has brought down to a single digit from double digit figure of 25% in one year.
The Advisor also briefed the Prime Minster that agreement was reached with the banks on the status of circular debt.

In order to achieve broader tax net, the Prime Minister directed the Advisor to personally supervise the revamping of revenue collection system for achieving the desired objectives. The Advisor on Finance will brief the Prime Minister on the country’s economic situation on weekly basis.-SANA