Prime Minister Imran Khan mentioned that that is nice information for Pakistan. Photo: The News/FileISLAMABAD: Pakistan on course because the nation’s present account recorded a surplus of $792 million within the first quarter of the continuing fiscal yr 2020-21, Prime Minister Imran Khan introduced on Wednesday.Moreover, the central financial institution mentioned that it’s the “first quarterly surplus in more than five years”.“Great news for Pakistan. We are headed in the right direction finally,” mentioned PM Imran.The prime minister shared that the present account was in surplus of $73 million throughout September, bringing in a surplus for the primary quarter to $792 million. He defined that the nation had registered a deficit of $1,492 million throughout the identical quarter of the earlier yr.“Exports grew 29% and remittances grew 9% over the previous month,” mentioned PM Imran.’First quarterly surplus in 5 years’Meanwhile, the State Bank of Pakistan (SBP) mentioned that it was the primary quarterly surplus in additional than 5 years.”In September, the current account posted a surplus for a third successive month. The surplus reached $73 million against a deficit of $278 million a year earlier,” mentioned the SBP in a collection of tweets.It added that “the current account recorded a surplus of $792 million in Q1-FY21, the first quarterly surplus in more than 5 years”.The SBP additionally shared that the continued buoyancy in remittances is up by 9% on a month on month foundation. It added that the broad-based rebound in exports elevated by 29% on a month on month foundation which led to the present account surplus in September. “Imports also picked up in line with the on-going revival in domestic economic activity,” mentioned the SBP.Last month, the central financial institution had introduced that Pakistan had registered a present account surplus for the second straight month in August on account of remittances despatched in by the expatriates in addition to cheaper imports.In its assertion, the State Bank of Pakistan (SBP) mentioned the Current Account Balance (CAB) surplus “amounted to $508 mn and $297 mn during July and August 2020”, respectively.In addition, the cumulative present account surplus got here in at $0.805 billion within the July-August 2021 interval, versus a deficit value $1.2 billion within the comparable time-frame, final yr, the SBP mentioned on Twitter.