$20 billion paid in foreign loans, says PM

ISLAMABAD: Prime Minister Imran Khan has said the country’s economic indicators are on a positive trajectory despite many challenges, including that of the COVID-19.

He said the government has made record repayments of $20 billion in foreign loans over the last two and a half years.The prime minister was addressing a ceremony here in connection with the Roshan Digital Account, crossing $500 million mark in remittances on Thursday.

Expressing pleasure over the record increase in the country’s exports at a time when the economies around the world were badly affected by the breakout of pandemic, he said our exports have been more than our competitors, including India and Bangladesh.He said our textile sector is witnessing a boom and new textile mills are being opened.

Imran Khan noted that conscious efforts to improve exports as well as remittances in the Roshan Digital Pakistan Accounts have helped stabilize the rupee. The prime minister said that 88,000 Roshan Digital Accounts have been opened in 97 countries.

He pointed out that the overseas Pakistanis are our biggest asset and it has been his endeavour to tap this potential to take forward the country. Imran directed the State Bank of Pakistan to open a special cell to facilitate the overseas Pakistanis in opening the Roshan Digital Account.He said the more we facilitate the expatriates, the more amounts will come into the Roshan Digital Accounts.

Stressing the need for a focused and innovative media campaign for overseas Pakistanis to apprise them about this new initiative, the prime minister was confident that this will help increase the number of accounts. The prime minister said the banking sector has an important role in the Naya Pakistan Housing Program as well as the promotion of small and medium enterprises. He said these two sectors have the potential to accelerate the economic growth.