Stock rally, rupee appreciation point to ‘positive economic sentiment’: Azhar

Minister for Industries and Production Hammad Azhar tweeted on Monday that a rally in shares on the stock market, the appreciation of the rupee, and strong growth in industrial sectors point towards a positive economic sentiment in the country.

He said tax revenues are also rising and the country’s current account is also in surplus.

In a tweet on October 21, Prime Minister Imran Khan had said: “We are headed in the right direction finally.”

Rally in the stock market, appreciation of PKR in currency markets, strong growth in industrial sectors like Cement, Automobiles, Construction, Fertiliser, Textiles etc point towards a positive econ sentiment in the country. Tax revenues also rising & Current Account in surplus.

— Hammad Azhar (@Hammad_Azhar) October 26, 2020

He said the country’s current account balance posted a surplus of $73 million during September, bringing surplus for the first quarter of the current fiscal year to $792 million as compared to $1,492 million deficit recorded during last year’s corresponding year.

The prime minister said exports also saw a 29 per cent increase besides remittances growing 9 per cent over the previous month.