ISLAMABAD - Minister for Information and Broadcasting Senator Shibli Faraz said that during last two years, financial deficit of the country witnessed a reduction of 17 billion dollars.

Briefing the media  about the decisions taken in the Federal Cabinet meeting on Tuesday,  he said that the Cabinet was apprised that a historical relief package for the construction sector and resumption of construction activities will create jobs. 

He said that the Prime Minister was informed that Rs 891 million have been paid to media for their outstanding due on the account of advertisements.

He said that Advisor to Prime Minister on Finance briefed the federal Cabinet on overall economic situation of the country on two years progress of the PTI government.

Shibli Faraz underlined that State Bank’s reserves have increased to 12.5 billion dollars from 8 billion dollars due to prudent economic policies of the government.

He said when PTI came into power the current account deficit was at 20 billion dollars and in two years we brought it to 17 billion dollars.

The Minister said under Ehsaas programme, the government has distributed financial assistance to 15 million families.

He said the government adopted the policy of reducing imports and increased exports which resulted in the strengthening of country’s economy.

The Minister said that PTI government since after assuming power adopted the policy to enhance exports and making cut on unnecessary imports.

He said that  foreign exchange reserves of State Bank have increased from 8 billion dollars to 12.5 billion dollars. He also added that during Covid-19 pandemic lockdown, the Government provided assistance to  15 million families through Ehsaas Programme.

The federal government also announced historic relief package for the construction sector with objectives to generate thousand of new employment opportunities through the relief package for construction industry.

The Minister said that strategy of PTI government to contain outbreak of Covid-19 is being lauded and hailed all over the world. He also added that elements who use to force the Government to implement strict lockdown policy against smart lockdown policy of the PTI government are nowhere to seen.

Comparitively to developed countries of the world, Pakistan has to face least loss in face of coronavirus pandemic, he added.

Shibli Faraz said that it is good omen that economic activities have started momentum in the country.

He said that with reinstatement of economic activities,exports are mounting in the country.

He said that stock exchange is also moving towards stability with improvement of economic activities.

The Minister said that Prime Minister Imran Khan has been informed on the payment of outstanding dues to media industry in lieu of advertisements.

He also added that CDA land of approximately worth Rs 450 billion have been retrieved from land grabbers in the federal capital.

He said that plantation drive is being made on retrieved land at Srinagar Highway after encroachments are removed.

The Minister said Shahid  Mehmood has been appointed as MD Parco.

He said under anti-encroachment drive of the government, illegal constructions on Srinagar Highway were removed and trees were being planted.

He said the world is giving examples of Pakistan the way it dealt with the coronavirus pandemic.

Shibli Faraz said those who chanted the slogan of strict lockdown are not visible today.

He said by the grace of Allah Almighty, coronavirus pandemic caused less damage to our country than in the developed countries.

He said Federal Cabinet also decided to celebrate the Independence Day on August 14th in a befitting manner.