Business

Corona’s third wave is entering with strong economic indicators: Governor SBP

“People are scared in the third wave of Corona, but we are entering with strong economic indicators,” said SBP Governor Raza Baqir.

Addressing a function in Karachi, the Governor SBP said that the volume of remittances in March this year was 2 2.7 billion, Pakistanis abroad sent remittances of 2 2 billion for the tenth consecutive month, compared to last March. March remittances are up 43% this year.

He said remittances for the first nine months of the current financial year stood at 21 21.50 billion. Remittances for the first nine months of the current financial year were 26 per cent higher than in the previous financial year. , I and the Deputy Governors are better monitoring the affairs of the economy, we are supporting the stability and confidence in the banks.

He further said that other sectors including housing are being monitored, large scale manufacturing grew by 9%, cement sales by 44% in a year and auto sector by 35% in a year.

The Governor SBP said that the country’s foreign exchange reserves have also increased and GDP growth will also be recorded in the current financial year.

“We are entering the third wave of Corona with strong economic indicators,” he said.

Later talking to media, SBP Governor Dr Raza Baqir said that Pakistan has returned to the global capital market by issuing Eurobonds.

Replying to a question, Raza Baqir said that for the first time in the history of the housing and construction sector is being expanded, the Prime Minister himself meets every week on housing with interest, cement and steel sales from the housing sector is increasing. ۔

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