Pakistan records 5% growth in GDP, 17% in revenue, says Dar

[farhan_9909]

Third source.Again only few hours old

Finance Minister Ishaq Dar has said the economy is moving on the right track with 5% GDP growth rate for the first quarter of the current financial year as against 2.9% last year.

Radio Pakistan-
The Finance Minister says the Ministry has so far released 143 billion rupees for development projec
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4th source

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that previous government remained unsuccessful to cross the economic growth rate above 3 percent, in contrast PML-N’s government took the Gross Domestic Product (GDP) growth rate to 5 per cent, ARY News reported on Wednesday.

PML-N's government progressed the GDP growth rate by 5.1pc: Ishaq Dar

All of them are reputed sources from Pakistan.
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And Dar sahab didnt had any wish to release the growth rate on quarters basis but it was rather IMF who forced them to release the growth rate on quarter basis

ISLAMABAD: In line with the International Monetary Fund (IMF) programme to obtain $6.6 billion bailout package, Pakistan has decided to release GDP growth figures on quarterly basis, first time in the country’s history from the current financial year, official sources said.



“The GDP growth figures for the first quarter (July-Sept) will be released by the end of November or early December this year. It will be the first-ever in the country’s history when quarterly figures of GDP will be released in line with the international standards,” official sources in Finance Division confirmed to The News on Tuesday.

GDP growth figures to be released on quarterly basis - thenews.com.pk


I may be the supporter of PMLN or not.But i will give them credit where it is due.And i believe PMLN will do wonders for Pakistan economy though they are very bad at foriegn policy

 

[truthseeker2010]

yes just like he said that dollar will be at 98 "soon", it will really be miracle if pak achieved this, these are just political statements, for spoon feeding of the masses......

 

[farhan_9909]

ET reports it.

Ambitious plans: Every dollar of CSF to be recovered, says Dar – The Express Tribune

GDP growth

Expressing satisfaction that the “economy has been put back on the right track”, Dar said during the July-September period the economy grew 5%. In the first quarter of the previous fiscal year, the growth was 2.9%. “Economic indicators were better than our expectations,” he said.

In the first quarter, the agriculture sector grew 2.5% against the target of 3.8%. But the push came from the industrial and services sectors, which outperformed due to clearance of circular debt and reduction in power outages.

The industrial sector grew 5.2% against the target of 4.5% and the services sector grew 5.7% against 4.5%.

Dar claimed that the figures were “authentic” and could be counterchecked. In five months, the government paid Rs101 billion in power subsidies.

 

[Jungibaaz]

I'll wait for proper estimates, I don't trust Dar at all.

 

[A1Kaid]

Not surprised with widening the tax net and increase in government spending in mass infrastructure and development projects GDP is on the rise. The Government had made it their aim to reach 7% by 2015 if I recall correctly, it appears they are on their way.

 

[SHAMK9]

Good news if true.

 

[Ghareeb_Da_Baal]

Maa Sadkay, hor kuch?

 

[Edevelop]

Looks true. In 2012, World Bank said Pakistan's growth rate was 4.2%. When this new Government came in, FDI and other indicators increased by huge margins.

 

[Rashid Mahmood]

An amendment issued by Ministry of Finance regarding the statement of the Minister:

"Ishaq Dar records 17% growth in his assets"

 

[Leader]

Source?

I cannot seem to find it, but I do remember sharing the news item from tribune.

Looks true. In 2012, World Bank said Pakistan's growth rate was 4.2%. When this new Government came in, FDI and other indicators increased by huge margins.

seriously?

 

[AUz]

Not surprised with widening the tax net and increase in government spending in mass infrastructure and development projects GDP is on the rise. The Government had made it their aim to reach 7% by 2015 if I recall correctly, it appears they are on their way.

What 'spending' has happened till now?

"Announcements" of spending doesn't count I guess.

 

[Panther 57]

Isn't this the same guy who said that Pakistan was going to become the 11th largest economy 'soon' ?

He's a flat face liar, whom i wouldn't believe until i see World Bank or IMF figures.

Could not agree more as far Dar is concerned. He has been falsifying figures. In this particular case I will not trust WB and IMF also. Their reports are also concocted when it comes to their interest. Right now their objective is to lend so much money to Pakistan that for next couple of decades Pakistan remains subservient to their desires. They did not like it much when Mush pulled Pak out of their trap. I think if we cross even 3.5% in reality that will also be too much. In last two decades these political governments have been able to touch 4% only twice.

 

[SBD-3]

I want an Independent Source cross-verifying this claim !

Sources can't satisfy egos. And on the practical side, only Pakistan Bureau of Statistics does the mammoth job of collecting data on national accounts, If you want an alternative affirmation, you should do the job PBS to see if their results match with yours or not.....

 

[airmarshal]

HOW? Please elaborate.

They have lied before and will lie again. I dont trust them at all.

 

[SBD-3]

HOW? Please elaborate.

They have lied before and will lie again. I dont trust them at all.

Does it matter for anyone what you think except yourself (perhaps)? You are free to believe all you want dude....

Could not agree more as far Dar is concerned. He has been falsifying figures. In this particular case I will not trust WB and IMF also. Their reports are also concocted when it comes to their interest. Right now their objective is to lend so much money to Pakistan that for next couple of decades Pakistan remains subservient to their desires. They did not like it much when Mush pulled Pak out of their trap. I think if we cross even 3.5% in reality that will also be too much. In last two decades these political governments have been able to touch 4% only twice.

Then probably you should muster up courage and collect the national accounts data yourself just like PBS does. I hope that is the only thing that can satisfy you......