ISLAMABAD: Advisor to Prime Minister on Finance and Revenue Shaukat Tarin on Sunday said that various economic indicators clearly show that the country's progress by all accounts was on rise.

"Numbers never lie," the advisor said while indicating towards progress in various sectors of economy including agriculture, manufacturing, exports and tax collection. He said the country was now sugar surplus, besides producing huge surplus in rice, maize and cotton.

"Numbers never lie; our progress by all accounts is on rise, i.e., agriculture, manufacturing, exports and tax collection. We are now a sugar surplus country. Also producing huge surplus in rice, maize and cotton," the advisor tweeted.

Meanwhile, Spokesperson to Finance Minister, Muzammil Aslam said economy of the country was moving on right direction and deplored that media was misleading the masses. In a statement issued here, he said the inflation was rising all across the world for last four months.

Quoting the Food and Agriculture Organization (FAO) report, he said the prices of food and beverages increased by 3.9 percent in September and October whereas the prices of edible oil witnessed an increase of 9.6 percent. The prices of dairy products were also increased by 2.6 percent, according to the report.

Muzammil Aslam said after Covid-19, the whole world was facing hard times, adding that it was misleading to say that the difficult situation was faced only in Pakistan. Pakistan's economy was growing fast, he said, adding that in October Pakistan's exports grew by 17.5 percent which was highest in the last eight years. For the first time in Pakistan's history, the export target would reach US $ 30 billion this year.

During July-October textile exports increased to US $ 6 billion whereas tax revenues were increased by 37 percent. In last four months, the government had collected Rs151 billion in income tax and cotton production was also increased by 81 percent. Muzammil Aslam said the industry had also grown by 12.25 percent and the economy would improve further in the coming days.

This article first apperead in Business Recorder on November 8