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Govt. is targeting 4% economic growth for ongoing fiscal year: Hammad Azhar

Muhammad UsmanMultimedia Journalist

22nd May, 2021. 08:42 pm
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Hammad Azhar

The government is targeting a 4% economic growth for the ongoing fiscal year, announced the Federal Energy Minister Hammad Azhar on Saturday.

While giving an economic outlook at a press conference today in Islamabad, Hammad Azhar said that the government will also expand the “social protection programs” in the country to help the low-income groups.

Azhar said that the government managed to reach this level of economic growth because of the “prudent economic policies” that were followed despite the “negative impact of COVID-19”.

“This will not be temporary growth it will be sustained and further strengthened,” said the federal minister.

The minister said that during the first nine months of the current fiscal year, large-scale manufacturing grew by 9% and Pakistan in March only had made exports worth $3.2 billion.

Azhar said that the foreign exchange reserves of the country had reached $23 billion while remittances also increased by 39% in the current year.

The energy minister said that the cement industry has seen a record production of 17% while better crop prices have benefitted the farmers’ community.

Pakistan’s GDP Growth Is Estimated At 3.94%

Prime Minister Imran Khan on Friday told via the micro-blogging site Twitter that Pakistan’s GDP is estimated at 3.94%.

According to the Prime Minister, the National Accounts Committee has finalized the GDP growth estimate & GDP growth is estimated at 3.94%.

PM Khan said that this reflects the success of our govt’s economic policies while managing COVID 19 pandemic.

In the tweet, Prime Minister said,

“Our V-shaped recovery is balanced between 3 major sectors: agriculture, industry & services.”

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