Govnt to target 7% GDP growth rate by 2015

[A1Kaid]

Government targets 7 percent GDP growth till 2015


Staff report, July 4, 2013

KARACHI: The federal government projected to accelerate to 7.0 percent gross domestic product (GDP) growth within three years, compared with only 3.0 percent in the last five years of Pakistan People’s Party Parliamentarians (PPPP) tenure.

The Pakistan Muslim League-Nawaz (PML-N) won the election on a pro-growth manifesto aiming to revive the economy via large infrastructure spending. The first PML-N budget targets growth of 4.4 percent in fiscal year 2013-14, versus 3.6 percent in fiscal year 2012-13.

According to Senior Economist at Standard Chartered Bank Pakistan Sayem Ali, the PML-N’s medium-term plan targets raising the investment-to-GDP ratio to 20 percent by fiscal year 2017-18 from 12.6 percent in fiscal year 2012-13. The growth strategy is focused on large infrastructure investments, including power projects, motorways, ports and urban transport projects.

Excerpt: Daily Times - Leading News Resource of Pakistan



I think this is a feasible goal for the country to aim for. It certainly can be done, especially with the government spending more on infrastructure and development projects in various sectors.

 

[474474]

If possible then good, but too much optimisim has painful results

 

[Argus Panoptes]

A 7% GDP growth rate is possible, but only if power shortage to industry is eliminated. And that is not easy.

 

[Jzaib]

JOsh e Kitabat

 

[farhan_9909]

Amazing.

A costant growth rate of 7% for a decade will indeed change the pakistan

 

[Not Sure]

This is great, at least they are ready to make some efforts.

If while looking for 7% they manage even 5% it will be great for Pakistan, and put the growth in an accelerated mode.

 

[A1Kaid]

This is great, at least they are ready to make some efforts.

If while looking for 7% they manage even 5% it will be great for Pakistan, and put the growth in an accelerated mode.

Last I read GDP growth rate maybe at 4.4% currently so the 5% is already in reach. Pakistan has also increased exports to major trading partners.

 

[arushbhai]

Growth rate directly relies on energy. If they can overcome energy needs, 9% growth rate could be achievable. Govt needs to invest heavily on wind power. Its cheaper and the whole plant can be set up within few months that could generate hundreds of MW of electricity. We should be generating atleast 2,500 MW of electricity through wind by the end of 2014.

 

[A1Kaid]

Growth rate directly relies on energy. If they can overcome energy needs, 9% growth rate could be achievable. Govt needs to invest heavily on wind power. Its cheaper and the whole plant can be set up within few months that could generate hundreds of MW of electricity. We should be generating atleast 2,500 MW of electricity through wind by the end of 2014.

Government is already engaged in wind power plants in Sindh.

Wind projects to start generating power in a year – The Express Tribune

 

[xyxmt]

JOsh e Kitabat

omg did you invent this phrase, this is hilarious

 

[My-Analogous]

Humanly not possible

 

[arushbhai]

Humanly not possible

They have done better than that in their past tenure. Yes, Pak is suffering from worst energy crisis ever, but it is still possible.

 

[darkinsky]

LMFAO .

by appointing metric pass to PIA deputy managing director

metric pass running the country

that must some sort of miracles

we dont need PhD's because metric passes can do 7% GDP growth

 

[qamar1990]

Excerpt: Daily Times - Leading News Resource of Pakistan



I think this is a feasible goal for the country to aim for. It certainly can be done, especially with the government spending more on infrastructure and development projects in various sectors.

i think next year pakistan will be around 6 percent, pakistan has very hard working businessmen.
energy crisis will be under control i believe and most the ttp will be eliminated.

 

[TopCat]

7% growth rate requires 30% of of the GDP to be invested back in the economy. Currently PK has only 10% investment scenario.
If we take 230 billion as PK GDP then it needs 69 billion dollar invested per year to achieve 7% growth rate. Its a daunting task for sure but not impossible but only a miracle will get you there by 2015.

i think next year pakistan will be around 6 percent, pakistan has very hard working businessmen.
energy crisis will be under control i believe and most the ttp will be eliminated.

Economy simply does not grow only by mere dreaming. It needs investment. Domestic savings for PK is in dismal condition. Only foreign aid and FDI can give you that kind of boost. With USA economy is getting stronger there is very little chance that PK will be receiving any hot fund soon.