ISLAMABAD – Pakistan has revised up its economic growth rate for theprevious fiscal year 2020-21 to 5.37 percent from 3.9pc, Planning andDevelopment Minister Asad Umar announced on Thursday.
In a tweet, Umar said that the National Accounts Committee (NAC) hadapproved the revised estimate of gross domestic product (GDP) growth forthe previous financial year.
“The growth in 2020-21 was 5.37%. This is the 2nd highest growth in thelast 14 years. Higher growth versus provisional estimates which were basedon jul-mar numbers, was mainly due to very strong industrial growth inapr-jun,” the minister wrote.
The government has revised the GDP rate for 2020-21 for the second asinitially, it set it as 2.3% in the 2020 annual budget and later revised itup to 3.9%.
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The planning ministry in a statement said that NAC reviewed and approvedthe rebased series from 2015-16 to 2020-21 on the prices of 2015-16.
“Due to improved coverage & better estimation of input-output structure ofindustries, the gross value addition has increased by Rs.3.1 Trillion inthe base year 2015-16 from Rs.27.4 trillion to Rs. 30.5Trillion,” it added.
