ISLAMABAD – Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shaikhsays that Pakistan economic growth would be over 3.5 percent this fiscalagainst the target of 2.4pc.
“The growth trajectory is positive and I can assure you that we can easilysurpass the 2.4pc growth target, we would achieve economic growth rate ofover 3.5% in this fiscal year,” said Sheikh, while talking to a privatechannel.
The advisor added that the target would be achieved on back of higherPublic Sector Development Programme (PSDP) spending, which would be overRs950 billion this year. Secondly, the provincial PSDP that amounts to overRs1tn would lead to economic growth.
“Thirdly, in the private sectors the sectors that are performing wellincluding textile, banks, telecommunication, fertilizer and electronicswould generate economic growth,” he said.
Shaikh says the government is taking all important steps to controlinflation and improve economic growth rate of the country. He said thegovernment has minimized overall expenditure, due to which the economy ismoving on right direction.
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Expressing concerns over flaws in the policies of previous governments, hesaid time would be required to rectify these policies.
Abdul Hafeez Shaikh said the stock exchange and foreign direct investmentin the country are increasing while exports are also moving up due tobetter policies and direction set by the government.
Talking about the IMF program, Shiekh said he said that he couldn’t be sureif we would need to go to the IMF in 20 years. “I believe that if we areable to complete the IMF program, it would provide good platform for longterm growth.”
