Pakistan’s economic recovery gains momentum

Planning Minister Ahsan Iqbal said the economy is recovering from the pressure created by the Gulf war, pointing to a run of positive indicators. He spoke at the Islamabad launch of the Monthly Development Update, Mettis Global reported.

Inflation eased to 9.2 per cent in July, down from 11.7 per cent in May. Workers' remittances climbed to $3.6bn in July, up 13 per cent year on year, which the minister read as continued trust among overseas Pakistanis. Large-Scale Manufacturing expanded 5 per cent over the year.

The government had kept supply chains functioning during a difficult stretch, while steps were taken against hoarding and profiteering, Radio Pakistan reported. Iqbal added that stronger industrial output would help exports grow and feed into the wider recovery.