ISLAMABAD: Pakistan’s economic indicators displayed a positive trajectory in July, marked by increased remittances, higher foreign exchange reserves, and a reduction in the current account deficit. The Federal Board of Revenue also surpassed its tax collection target for the month.
According to Radio Pakistan, remittances from overseas Pakistanis increased to $3.63 billion, while the State Bank’s foreign exchange reserves rose to $17.08 billion. The current account deficit decreased by 38 percent compared to the previous year, totaling $328 million. The Pakistani rupee demonstrated stability, showing a modest improvement against the US dollar. Additionally, the Federal Board of Revenue collected 810 billion rupees in taxes, exceeding its monthly target, supported by improved fiscal discipline.