Islamabad: With the assistance of the Special Investment Facilitation Council (SIFC), Pakistan’s current account balance has shown notable improvement.
According to the State Bank, in August 2024, the current account balance turned positive with an increase of $75 million after being in the negative for three consecutive months.
Exports in the IT sector rose by 27%, reaching $298 million, contributing to an increase in the IT sector’s share of total exports to 48%.
Furthermore, foreign direct investment saw a substantial boost at the beginning of the current fiscal year, receiving $350 million—a 64% increase compared to $225 million during the same period last fiscal year.
Additionally, remittances sent by overseas Pakistanis grew significantly, rising from $2.09 billion in August 2023 to $2.94 billion in August 2024.
