Economic stability marks beginning of ‘Golden Era’: Farrukh Habib

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Saifullah

ISLAMABAD, Minister of State for Information and Broadcasting Farrukh Habib said on Friday that the ‘Golden Era’ of development had begun in the country as the present government’s prudent policies ensured economic stability.

Responding to the anti-government remarks of Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari, he said the purchasing power of citizens had increased by 36.6 percent, thanks to people-friendly policies of Prime Minister Imran Khan.

He said that wages of the labourers associated with all the sectors including construction had increased by 29 percent.

Highlighting economic achievements of the present government, he said the current account remained surplus for the last ten months, exports surged by 13 percent, large-scaled manufacturing grew by nine percent and over one billion dollars were deposited in the Roshan Digital Bank Account.

Likewise, the Federal Board of Revenue collected Rs 4,170 billion taxes during the first eleven months of Fiscal Year 2021, while agriculture sector grew by 2.77 percent and primary balance had remained surplus for the first time in the last five years, he said.

The Minister said it was Prime Minister Imran Khan, who in spite of International Monetary Fund’s demands, preferred not to increase electricity prices and impose direct taxes amounting to Rs 150 billion to provide relief to the masses.

He said the government continued to pass on the relief to citizens despite the spike in prices of sugar, crude oil, petroleum products, edible oil and other items in international market.

Palm oil price went up by 102 percent in the global market, but the government allowed only 20 percent increase, the Minister said, adding prices of soybean oil was enhanced by only 23 percent against the increase of 119 percent at the international market.

He said similarly, the prices of crude oil surged by 119 percent against which the government increased it by only 23 per cent.