F.P. Report
ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin said Saturday that Pakistan witnessed a strong V-Shaped growth despite being in a tough International Monetary Fund (IMF) programme.
In a tweet here the minister said that IMF programme was necessitated by unsustainable current account deficit and falling foreign currency reserves, and a vicious Covid 19.
He expressed gratitude for Prime Minister, Imran Khan and his team for achieving this growth.
“A strong V growth despite being in a tough IMF program, which was necessitated by unsustainable current account deficit and falling foreign currency reserves, and a vicious Covid 19. Well done team Imran Khan; Thumbs up @FinMinistryPak @GovtofPakistan,” he tweeted.
Chairman China Pakistan Economic Corridor (CPEC) Authority Lt. Gen. (retd) Asim Saleem Bajwa Saturday said all the major macroeconomic indicators were moving towards positive trajectory due to immense hard work by the government.
Not without an immense hard work, Pakistan’s economy performed beyond expectations with all major macroeconomic indicators showing positive trend amid Covid-19 pandemic,” he said in a tweet.
Asim Bajwa said the hard work resulted in 3.94 per cent economic growth during the outgoing fiscal year.
It is pertinent to mention here that the National Accounts Committee (NAC) on Friday had estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent.
Due to a combination of GDP growth and strengthening of Pak rupee against the US dollar, per capita income of Pakistan jumped by 13.4 percent during the current fiscal year (2020-21) from $1361 to $1543.
The GDP increase from $263 billion to $296 billion, an increase of $33 billion during the current fiscal year, was the highest ever in any year.
