Pakistan witnesses substantial increase in current account balance

Pakistan has witnessed a substantial increase in current account balance with the support of Special Investment Facilitation Council. According to the latest statistics released by the State Bank of Pakistan, after remaining negative for three consecutive months, current account balance remained positive with an increase of 75 million dollar in the last month. The exports of IT have reached to 298 million dollars with an increase of 27 percent, showing a surge of 48 percent of this sector in the overall exports of the country. At the beginning of current fiscal year in terms of foreign investment, the inflow of 350 million dollar with an increase of 64 percent is welcoming for country's economy which was 225 million dollar in the same period of previous fiscal year. Remittances sent by overseas Pakistanis have reached to 2.94 billion dollar in the month of August this year as compared to 2.09 billion dollar in the same period last year. Source: Radio Pakistan