ISLAMABAD: Minister for Science and Technology Fawad Chaudhry on Thursday said it was after 17 years that Pakistan had come out of the current account deficit.

“This happened because our exports and remittances remained more than imports,” he said in a tweet.

The minister said the government had also cut its expenditures. He said the country could only be taken forward on the path of economic self-reliance by reducing expenditures and enhancing the revenue.

Also Read: Services trade deficit shrinks by 42.96 pct in 2019-20

On Oct 20, Minister for Industries and Production Hammad Azhar had said that Pakistan’s industry was leading the economic revival despite covid-19 shock. “Cement, automobiles, LSM, exports, construction, fertiliser and other sectors are showing robust growth. This growth is combined with the first quarterly C/A surplus after 5 years,” he said.

On Oct 11, Prime Minister Imran Khan had said despite Covid-19, there were good news for our economy.

In a tweet, he had said remittances from our hardworking overseas Pakistanis rose to 2.3 billion dollars in September this year, which was thirty one percent higher than last September and nine percent higher than August this year.

“This marks the fourth consecutive month that remittances have remained above two billion dollars,” he had said.