ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday expressed satisfaction over Pakistan achieving a record $729 million current account surplus in November, marking the highest figure in a decade.
The current account recorded its third consecutive monthly surplus in November, reflecting the government’s consistent policy to restrict imports. According to data from the State Bank of Pakistan (SBP), the country had achieved a $349 million surplus in October and $86 million in September.
The SBP data, released today by state broadcaster PTV, highlighted that the $729 million surplus in November was the highest since 2015.
Cumulatively, the current account surplus reached $944 million during the first five months of the current fiscal year, compared to a $1.68 billion deficit during the same period in the previous fiscal year.
In a statement issued by the Prime Minister’s Office, PM Shehbaz lauded the achievement: “For the first time in 10 years, Pakistan’s current account surplus reaching $729 million in November 2024 is extremely encouraging for the national economy.”
He emphasized that the reduction in the State Bank of Pakistan’s policy rate, the gradual decline in inflation, and the rise in the current account surplus were “clear evidence” of the government’s effective economic policies.
“This record increase in the current account surplus will strengthen Pakistan’s position in the international economic market,” the prime minister said, adding that it would also boost local and foreign investor confidence in the economy.
PM Shehbaz commended Finance Minister Muhammad Aurangzeb, Minister of State for Finance Ali Pervaiz Malik, and the government’s economic team for their efforts in achieving this milestone.
