Published on December 09, 2021 11:28 p.m.
Tarin said that for an economic growth rate of 5-6%, income should be 20% of gross domestic product
ISLAMABAD (Dunya News) – Prime Minister’s Finance Advisor Shaukat Tarin said on Thursday that the growing current account deficit has pushed the government towards the IMF but that in order to get rid of the debts it is necessary to increase the debts. receipts.
Addressing a ceremony in Islamabad on Thursday, he said our priority is stable growth, not artificial growth, but our economies are very weak. The Pakistani economy is just emerging from the blows of the coronavirus pandemic.
The adviser said Prime Minister Imran Khan wants development for al and Pakistan needs continued development as the growth rate in Pakistan after pandemic is 4%.
Tarin went on to say that for an economic growth rate of 5 to 6 percent, income should be 20 percent of gross domestic product, adding that we need to fix the power sector because the previous government created so many electricity in his desire for more. this capacity payment must be paid.
He said the main area affecting our economy is the trade gap. He said we paid no attention to our exports because in 2013 our exports amounted to $ 25 billion which has decreased in recent years.
“We are out of Covid now and last year our economy has experienced inclusive and sustained growth which is vital for overall development,†he said and added that in the past we have seen growth , but it did not hold up because our economies were weak, and our economy had overheated.
The adviser added that the main area affecting our economy is the trade gap. He said we paid no attention to our exports because in 2013 our exports amounted to $ 25 billion which has decreased in recent years.
We must reduce this import-export imbalance, he said, adding that the current government has adopted the right approach which is bearing fruit while we are witnessing an upsurge in our exports.
On the production side, he said, it is not at the desired level and we need to focus on three areas, improving incomes by improving the tax / GDP ratio, the agricultural sector and the industrial sector. .
Tarin said: “Another area is the housing sector in which more than 40 industries are linked and this sector can have a multiplier effect towards development, adding that we have decided to take a bottom-up approach and that the Kamyab Jawan program would be an important step towards the overall improvement of the company. “
He said: “At the moment our economy is growing by more than 5%, but unfortunately due to a world price problem a slowdown has been observed but it will not last long and in the coming months the situation will improve as the prices in the world market are gradually descending.
The adviser further said that several economic indicators, including the increase in income, reflect the growth of our economy, adding that the Prime Minister is concerned about the plight of the lower and lower middle classes and that the Ehsas rationing program s would be essential in this regard.