Islamabad, January 25, 2022 (PPI-OT):The Senate was informed today (Tuesday) that the country’s foreign exchange reserves are touching twenty billion dollars as a result of effective policies of the government. Minister of State for Parliamentary Affairs Ali Muhammad Khan told the house during question hour that our exports and growth rate are at record levels and the current account deficit is being reduced.

Acknowledging the issue of inflation, he said efforts are afoot to control it in the next three to four months. He said we have enhanced tax on import of luxury items under the Finance Supplementary Bill, 2021. He said initiatives have been taken to encourage local assembly of mobile phones, production of LED TVs and new investments in ceramic and tiles industry for import substitution.

Responding to a supplementary question, Ali Muhammad Khan said the government is investing in new varieties of cotton seeds in order to bolster its production. He pointed out there has been record production of wheat besides a record sale of tractors is also being witnessed.

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