Federal Finance Minister Ishaq Dar said on Wednesday that national economic growth had jumped up to above five per cent this year from last year’s 4.24 per cent and healthy economic indicators had suggested that it would soon reach 6-7 per cent mark.
He said this while addressing a gathering of industrialists and traders at the Multan Chamber of Commerce and Industry (MCCI).
Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan, Special Assistant to Prime Minister on Law Ashtar Ausaf, Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan, MCCI President Fareed Mughees Sheikh and other prominent industrialists and officials were also present.
Dar announced that the refund cases below or up to Rs 5 million would be resolved by March 15 and their refund payment orders (RPOs) would be issued shortly.
The finance minister recalled that there was a time when economists were apprehending economic instability before the PML-N government due to poor macroeconomic indicators in the country. And they had assessed that any new elected government would require at least four years to avert the default and bring economic stability back in the country, he observed.
However, Dar added, the PML-N government took only two years to improve economic indicators to a status that triggered commendations and acknowledgement from world’s 22 economic institutions.
World’s economists applauded Pakistan’s economic performance and British economist Jim O’Neill said in his report that Pakistan had potential to become the 18th largest economy by 2050, Ishaq Dar said. Today Pakistan’s economy was ranked at 44th in the world, he commented.
Dar said the report was encouraging which acknowledged the economic achievement of the country, adding it should inspire all to achieve the projected target much earlier than 2050. “Why not achieve it in 2035?” the finance minister showed his firm resolve, and asked the opposition and all political parties and stakeholders to give suggestions how to reach a goal of becoming the world’s 18th largest economy through combined efforts.
By 2025 Bangladesh economy will be bigger than Pakistan Economy. Bangladesh Taka is more valuable Pakistan Rupee. Bangladesh have foreign exchange than Pakistan. Bangladesh exports more than Pakistan exports. Bangladeshis send more money to their country than Pakistan. Bangladesh does not spend lot of money on defense. Bangladesh GDP growth rate is 6.5 percent and Pakistan growth rate i 4.5 percent. There should be active debate in Pakistan regarding this issue. Any economist who works on this numbers will arrive at the conclusion that Bangladesh economy will be bigger than Pakistan by 2025.
Comments are closed.