Pakistan’s annual economic growth to cross 5 pc: Nawaz Sharif

[farhan_9909]

COLOMBO: Pakistan’s economy is expected to grow at more than 5 percent in the current fiscal year due to some bold economic reforms, Prime Minister Nawaz Sharif said on Tuesday, faster than a 4.2 percent growth in the previous year.

Speaking at a forum during an official visit to Sri Lanka, Sharif said the economy has progressed well despite fighting against extremism and terrorism.

"Democracy creates far better opportunities for both economic growth and cultural progress than the authoritarian regimes.

My government has placed strong emphasis on bold economic reforms to achieve significant improvement in all sectors of the economy," Sharif said.

"It (GDP) is expected to be over 5 percent this year.

"Pakistan’s economy grew 4.2 percent in fiscal 2015, but investors remain wary of systemic weaknesses, the central bank said last month, urging the government to adopt clearer, more consistent policies on industry and trade.

The growth was below the 5.1 percent target in the last year, but still better than the 4.0 percent achieved in 2014.Pakistan benefited from lower global prices of oil and commodities, which helped bring inflation down and that has helped to mitigate disappointing exports and a lack of investment, two factors that would have spurred greater growth.

Sharif on Tuesday at a different forum said Sri Lanka and Pakistan have agreed to include services in a bilateral free trade agreement (FTA)

- See more at: Fire in Rawalpindi’s PC hotel doused; no casualties | Pakistan | thenews.com.pk

 

[karakoram]

After we overcome our power shortage problem and after successful completion of Zarb e azab our economic growth will reach 6 to 7 percent IA.

 

[Bilal.]

I hope the nominal GDP reaches $500 billion by 2020.

 

[Sipahi]

8% for atleast a decade required for tangible results.

 

[waleed3601]

if they manage to get 7% growth by 2018 im voting for them in next election.

 

[Talwar e Pakistan]

After we overcome our power shortage problem and after successful completion of Zarb e azab our economic growth will reach 6 to 7 percent IA.

And after construction of CPEC, our growth rate would be 8-9% no doubt.

 

[Manidabest]

i would expect it to grow at 6%

 

[karakoram]

And after construction of CPEC, our growth rate would be 8-9% no doubt.

you are more optimistic then me

 

[tarrar]

It is very important for Pakistan to finish the power shortage, then the investors will feel happy & most importantly Zarb E Azb should target all those elements who are against Pakistan, even if they are politicians as these corrupt & anti Pakistan politicians (MQM, ANP, PPP & PML-N) are biggest obstacle in the way of prosperous Pakistan.

 

[my2cents]

After we overcome our power shortage problem and after successful completion of Zarb e azab our economic growth will reach 6 to 7 percent IA.

How did you manage to grow at 5% with severe shortage of power? If it is true unlike Indian growth figures then congratulations.

 

[Bilal.]

How did you manage to grow at 5% with severe shortage of power? If it is true unlike Indian growth figures then congratulations.

Power situation has improved. Industries are not subject to power cuts anymore.

 

[saiyan0321]

5 is very impressive considering we were what 2 in PPP govt.. They reach then its very much commendable. 7 8 9 is very optimistic so I won't go there but if we reach 7 then we will truly deserve the title of Asian tiger.

Loadshedding has been reduced considerably and of parties ( and I mean all of them) can stop biting on the CPEC routes and allow it to be implemented then we can sustain such growth. Remember after the war we also have to develop fata and balochistab which will also give Pakistan a huge boost.