IMF okays...

Pakistan Observer - - IN­TER­NA­TIONAL -

has been made in FBR tar­gets and we are on course to achiev­ing the orig­i­nally fixed tar­gets. Against the in­dica­tive tar­get of Rs. 2105 bil­lion for the first nine months of the year, FBR has col­lected Rs. 2103 bil­lion. The col­lec­tions im­proved by around 19 per­cent as com­pared to the last fis­cal year.

Dar said we achieved real GDP growth rate of 4.24 per­cent in FY 2015, which is the high­est in the last 7 years. In view of the dam­age to the cot­ton crop, the growth rate for the cur­rent year is ex­pected to be around 5 per­cent, which will be an 8 year high. For the next fis­cal year, growth is pro­jected at over 6 per­cent in our macroe­co­nomic frame­work.

He said LSM growth re­mained ro­bust at 4.4 per­cent dur­ing Jul-Feb 2016 com­pared to 2.4 per­cent last fis­cal year. The LSM growth is the high­est in the last 8 years.

Ma­jor sec­tors like Au­to­mo­biles reg­is­tered growth at 28 per­cent fol­lowed by Fer­til­iz­ers 16 per­cent, Rub­ber prod­ucts 11.6 per­cent, Leather prod­ucts 11.5 per­cent, and Chem­i­cals 11.2 per­cent. Ce­ment dis­patches wit­nessed uptick by over 19 per­cent and there has been a con­tin­ued credit ex­pan­sion. A wel­come devel­op­ment is the in­crease in fixed in­vest­ment. Elec­tric­ity and gas sup­plies con­tin­ued to im­prove since the start of the cur­rent fis­cal year. The CPEC will also play a sig­nif­i­cant role in fur­ther boost­ing eco­nomic ac­tiv­i­ties.

The Fi­nance Min­is­ter said the Pak­istan Stock Ex­change (PSX) has scaled new height of 36,265 in­dex on 10th May, 2016 cross­ing the high­est in­dex achieved pre­vi­ously in Au­gust, 2015 in­di­cat­ing ro­bust eco­nomic ac­tiv­ity and re­flect­ing in­vestor con­fi­dence.—INP

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