Summary
- With the support of the Special Investment Facilitation Council (SIFC), there has been a significant increase in the current account balance.
- According to the State Bank, Pakistan’s current account balance turned positive in August 2024 with an increase of $75 million, after being negative for the past three months.
- Foreign direct investment also saw a 64% increase at the start of the current fiscal year, with $350 million received, compared to $225 million in the same period of the previous fiscal year.
With the support of the Special Investment Facilitation Council (SIFC), there has been a significant increase in the current account balance.
According to the State Bank, Pakistan’s current account balance turned positive in August 2024 with an increase of $75 million, after being negative for the past three months.
IT exports have risen by 27%, reaching $298 million, which has increased the IT sector’s share of total exports to 48%.
Foreign direct investment also saw a 64% increase at the start of the current fiscal year, with $350 million received, compared to $225 million in the same period of the previous fiscal year.
Remittances sent by overseas Pakistanis also increased, reaching $2.94 billion in August 2024, up from $2.09 billion in August 2023.
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