• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Tarin tells Senate: Pakistan’s GDP growth rate to exceed 5pc in FY22

by News Desk
October 2, 2021
in Business, Economy
Reading Time: 2 mins read
GDP
Share on FacebookShare on Twitter

Pakistan’s gross domestic product (GDP) growth rate would exceed five percent this financial year and growth of economy is necessary for the creation of two to three million jobs annually, Finance Minister Shaukat Tarin told the Senate on Friday.

He was responding to queries from senators related to the economy during question hour at the Senate sitting.

“As of now, we do not have any accurate data but there are very encouraging signs – that the GDP growth rate would exceed five percent. We have taken a number of steps for the economy to grow. Exports have been incentivised and revenues are increasing,” he said.

This fiscal year, Tarin said, government’s earlier estimates suggested that GDP growth rate would be between 4.8 percent to 5 percent, compared to 3.94 percent to 4 percent recorded in previous fiscal year.

“Our people need two to three million jobs each year. If economy is not allowed to grow, how these jobs would be created?” the minister said.

He said debt-to-GDP ratio was 87.6 percent last year which dropped to 79.7 percent in March 2021.

Taj Haider from Pakistan Peoples Party (PPP) said the figures from State Bank of Pakistan (SBP), reflected in the Economic Survey, suggested that debt-to-GDP ratio was 93 percent and not 87.6 percent.

“I have not seen this figure. We have the data which suggests that debt-to-GDP ratio was 87.6 percent, dropped to 79.7 percent,” Tarin responded.

Tags: GDPPakistanSenateTarin
News Desk

News Desk

Related Posts

FM Ishaq Dar says around 21% banks become Shariah-compliant

FM Ishaq Dar says around 21% banks become Shariah-compliant

According to Finance Minister Ishaq Dar, over 21% of Pakistani banks have been aligned with Islamic regulations as a result...

Pakistan likely to reduce duty on mobile phones in budget 2023-24

Pakistan likely to reduce duty on mobile phones in budget 2023-24

In line with the proposals given by the Pakistan Mobile Phone Traders, the federal government is anticipated to lower the...

Intra-day update: rupee remains stable against US dollar

Intra-day update: rupee remains stable against US dollar

The Pakistani rupee depreciated 0.01% against the US dollar during the first hours of trading in the interbank market on...

Pakistan agrees to share budget details with IMF to unlock stalled programme

Pakistan agrees to share budget details with IMF to unlock stalled programme

Finance Minister Ishaq Dar announced that the coalition government has agreed to discuss details of its next budget with the...

Pakistan’s weekly inflation decreases by 0.42%

Pakistan’s weekly inflation decreases by 0.42%

According to the data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator for the current week...

Leading Pakistani auto manufacturer Honda Atlas reports 90% decline in profits

Leading Pakistani auto manufacturer Honda Atlas reports 90% decline in profits

With the economy in bad form, Honda Atlas Cars (Pakistan) Ltd, one of the country's top automakers, announced a 90%...

Next Post
fake news

France-24 exposes Indian media's fake news about Pakistan

Please login to join discussion

Recent Posts

  • Jahangir Tareen likely to ‘announce new political party in 72 hours’
  • 10 Renowned Celebrities Who Are Hafiz-e-Quran in Real Life
  • FM Ishaq Dar says around 21% banks become Shariah-compliant
  • ICC officials in Pakistan to ensure ODI World Cup 2023 participation
  • Surah Rahman recited during inauguration of India’s new parliament

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk