Pakistan's economy heading in right direction: Prez

The economic development reflected the confidence of the business community in the economic policies of the incumbent government, Alvi said at a meeting on Wednesday with members of the business community here, adding that steps are being taken to further improve the business environment of the country by providing various incentives and facilities, reports Xinhua news agency.

"Business community played a significant role in the economic development of the country and a number of steps have been taken to facilitate them, particularly during the Covid-19 pandemic," the President said.

The government has been focusing on creating an optimum business environment and due to its efforts, Pakistan's rank in the Ease of Doing Business Index have improved from 136th to 108th position, he said.

Alvi said despite tough financial constraints, the Pakistani government has provided a financial stimulus package worth 1.2 trillion PKR ($7 billion) to protect the business community and underprivileged strata of society from the adverse impacts of the pandemic.

Noting that the country's exports witnessed a significant surge, the President said the exports reached $25.3 billion during the last fiscal year of 2020-2021, and that the tax collection by the Federal Board of Revenue exceeded the set target during the first two months of the current fiscal year, showing that the economic health of the country is improving.