Pakistan’s economy growing fast: Shaukat Tarin
Says higher growth rate will leave negative effects on the country’s economy.
As the country is facing severe economic issues, the prime minister’s adviser on finance, Shaukat Tarin, is busy in telling people that economy is growing fast.
According to Shaukat Tarin, a higher growth rate will leave negative effects on the country’s economy
Adviser to Prime Minister on Finance Shaukat Tarin revealed these facts while addressing the CFA Society dinner.
“Me and the IMF want to keep our GDP growth rate between 5 per cent and 5.5 during the fiscal year 2021-22. I will not like to see 6 per cent growth this year,” he told the participants of the gathering.
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He said that the country’s growth is not slowing down.
“I held very healthy talks with the IMF,” Tarin said adding that the details of the negotiations will soon be made public.
Speaking about food resources, the adviser said that there is a crisis in the country as more than $10 billion worth of food was imported last year.
About the energy, he said that the country is currently undergoing a severe crisis of energy. This year, the government had already given Rs770 billion in subsidies.
The finance adviser said that the agricultural sector is doing well. Cotton production is likely to be around 9.5 million bales this year.
Tarin said the government was giving all possible incentives to the IT sector. He added that the IT exports could reach up to $15 billion in the next five years if the growth rate in the sector continues.
He said that we have fulfilled almost all IMF conditions. We have the ability to increase the revenue collection target set by the IMF. He claimed that the economy would not slow down due to the IMF program.
Tarin further said there are many flaws in the power sector. To overcome these shortcomings, power sector reforms and restructuring are needed.
The government has so far given a subsidy of Rs450 billion on petrol. If the government does not subsidize petroleum products, the price per liter of petrol will have been around Rs180.
