ISLAMABAD: The year 2024 was full of positive economic indicators for Pakistan as this year the stock exchange rose above 100,000 points for the first time in the country’s history while inflation fell to a six-and-a-half-year low.

The policy rate during the year fell from 22 percent to 13 percent. Pakistan’s current account surplus rose to a ten-year high. The production of large industries decreased, foreign exchange reserves, remittances and exports increased, the trade deficit decreased, the rupee strengthened against the dollar. Similarly, a new loan program of seven billion dollars was taken from the IMF on strict conditions. In the year 2024, the federal government's domestic debt increased while foreign debt decreased. Inflation fell to the lowest level in six and a half years at four and a half percent in 2024, while inflation reached a record thirty-eight percent last year.

Due to the decline in inflation, the State Bank of Pakistan has reduced the policy rate from 22 percent to 13 percent from June to October this year, which has brightened the prospects of further increase in economic activities and reduction in production costs. This year, the current account surplus was recorded at the highest in almost twenty years, at $19 million, which is the second highest surplus in the country's history. Pakistan's budget in the first quarter of the current fiscal year was the first in 24 years. The government has gone into surplus, meaning that in the first quarter of the current fiscal year, Pakistan's income was higher and expenses were lower, and Pakistan posted a budget surplus of Rs 1,700 billion. This year, Pakistan's total foreign exchange reserves increased by about $4 billion. This year, the rupee appreciated against the dollar. During the year 2024, Pakistan also succeeded in increasing exports and remittances, and imports were under control. The government expects record remittances and exports in the current fiscal year. Saudi Arabia extended the deposit period of $ 3 billion for another year.  This year, a new loan program of $ 7 billion was agreed between Pakistan and the IMF for 37 months. Under the loan program, Pakistan will have to implement several strict conditions of the IMF. The federal government increased the tax collection target in the budget by Rs 3,800 billion and for the first time in the country's history, additional taxes of Rs 1,761 billion were imposed, tax exemptions of Rs 450 billion were abolished. A tax burden of Rs 75 billion was imposed on the salaried class. The federal government introduced a business-friendly scheme to bring more than 3.1 million businessmen into the tax net on the terms of the IMF, but it was not successful.