Finance ministry says growth to remain over 4% this year

Discussion in 'Pakistan' started by farhan_9909, Oct 20, 2012.

  1. farhan_9909

    farhan_9909 Tihar Jail Banned

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    ISLAMABAD: Despite all odds, the country has so far maintained a reasonable pace of growth and economic output is likely to remain over 4% this year, claims the Ministry of Finance.

    According to an official statement issued here on Friday, Finance Minister Dr Abdul Hafeez Shaikh had briefed the visiting Asian Development Bank (ADB) delegation about steps taken so far to keep the economy afloat. The statement added that the minister had explained to the ADB delegation that in spite of the challenges created by Pakistan’s war against terror, natural calamities, as well as by the costs imposed by international markets – especially in terms of high oil prices – the government had been successful in maintaining a reasonable rate of economic growth.

    A spokesman for the Finance Division also clarified certain aspects of the meeting of the finance minister with the ADB delegation.

    He clarified that the ADB delegation was a ‘Board Group’, not a ‘Review Mission’, and had called upon the finance minister as a routine matter to discuss matters of mutual interest relating to cooperation between the bank and the Government of Pakistan.

    The spokesman further explained that in response to a question regarding declining investment in Pakistan, the finance minister had said that the trend appeared to have generated more concern than it legitimately ought to have.

    The spokesman also clarified that critical aspects of future cooperation with Pakistan’s major development partners in social, economic and financial policies and initiatives – in particular mega projects such as the Diamer Bhasha project – had been discussed with ADB President Haruhiko Kuroda during talks in Tokyo, and that there had been no need to make any further request for funding to the ADB delegation.

    Published in The Express Tribune, October 20th, 2012.


    Finance ministry says growth to remain over 4% this year – The Express Tribune
     
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  3. farhan_9909

    farhan_9909 Tihar Jail Banned

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    mean while Finance minister confirmed that economy is growing at 4.7% right now(Ist quarter)

    Government expenditure not that high if depreciation kept in mind: Sheikh - thenews.com.pk
     
  4. agentperry

    agentperry Senior Member Senior Member

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    though i dont want to play a spoiler but is govt saying the truth this time, since last year the figure fudging is rampant and moreover the floods and powerless industries are showing some different picture. turning of textile city faislabad into scrapyard( reported by newspapers of pakistan) and losing millions of acres of land and standing crop.
    still if its happening its a good sign
     
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  5. maomao

    maomao Veteran Hunter of Maleecha Senior Member

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  6. farhan_9909

    farhan_9909 Tihar Jail Banned

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    karachi stock exchange close to 16k points(last year roughly 10k in sept 2011)

    Inflation in single digit
    despite all this textile growth increases everyyear..
    standing crops?
    while the finance minister has OK(ed) export of wheat and rice as well 200k tonnes of sugar as well

    close to 5% of growth is very likely.
    we need atleast a 7-8% growth by 2015
     
  7. farhan_9909

    farhan_9909 Tihar Jail Banned

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  8. maomao

    maomao Veteran Hunter of Maleecha Senior Member

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  9. Apollyon

    Apollyon Führer Senior Member

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    This 4% is because they changed the base :rofl::rofl:
     
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  10. farhan_9909

    farhan_9909 Tihar Jail Banned

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    about textile export today news

    Textiles drive 21pc exports growth in Sept | The Nation


    certainly i do agree with you that we cant trust this govt..bt since the election are just few months far they will try there level best
     

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