Pakistan’s economy is set to embark on a higher growth trajectory due to implementation of stabilization policies and marked improvement in macroeconomic indicators.
In its Third Quarterly Report for the last financial year, the State Bank noted that positive business sentiments are likely to strengthen real GDP growth in the current financial year.
Talking to Radio Pakistan, State Minister for Privatization Muhammad Zubair has said that the report of State Bank is very important and it indicates that Pakistan is going into right directions in terms of economy.
He said that recently, several international monetary organizations have already shown their satisfaction over the economic conditions of the country.
He said “Our government is fully committed to economic growth of the country and we have already achieved the set goals of economic boost in first two years of our government and will achieve desired economic progress in coming years by following the vigilant economic policies.”
Economist Dr Shahid Hassan Siddiqui said that the recent report of the State bank indicated that the foreign reserves of country has increased due to the prudent policies of incumbent government.
He said the inflation rate has been reduced in the country and new opportunities of employment have been created. The said report showed satisfaction over the economic conditions of the country, he added.
He said “it is the suitable time to enhance our exports and increase our trade with international community.”
Another economist Abid Qayyum Sulehri said that current macroeconomic stability has been widely appreciated by international monetary institutions and community.
He said “after achieving position we got decrease in petroleum prices, induction of 3G and 4G technologies etc. Now government is distributing macro level benefits to micro level.”
He said the current government policy is giving maximum relief to nation and current boost is economy is not only because of infrastructure and construction but many factors are playing role for strong position.
Now all provincial governments should also play their role for retaining this situation and for better results and government should move focus to social development side, he added.
To a question, he said that direct foreign investment, including projects and corridor signed with China, is also playing important role.