Minister for Finance and Revenue Muhammad Aurangzeb has said the country received a record high inflow of remittances, amounting to 3.1 billion dollars in February this year.

Talking to the media alongside Minister of Information and Broadcasting Attaullah Tarar in Islamabad on Tuesday, he conveyed his gratitude to the Pakistanis living abroad for sending remittances to the country.

He said overseas Pakistanis are the ambassadors of the nation and a life line of our country.

The Finance Minister said with the help of these remittances, Pakistan is expected to complete the current year at an all-time high annual inflow of 36 billion dollars.

He said all the independent surveys, carried out in the last quarter, indicate rise in business and consumer confidence, which is a testament of increased activity on the industrial side.

Muhammad Aurangzeb said fifty-two thousand new investors have entered the stock market. He said seven initial public offerings have taken place on the stock exchange during the last one year, which is significantly higher compared to the past.

He said on the directives of the Prime Minister, Federal Board of Revenue has initiated an improved and automated sugar production monitoring system, featuring five oversight mechanisms to streamline the production at the sugar mills.

Muhammad Aurangzeb said sugar is now being sold to genuine distributors in the supply chain in order to curb hoarding and illegal profiteering.