We have announced an IT park with Korea in Islamabad we will replicate the model in Karachi and Lahore," he said. He said the growth rate for the next fiscal year has been set over 6 per cent.The industrial sector grew 5.02 per cent, agriculture 3.3. And now we are being branded as one of the leading economy," he said.Finance Minister Ishaq Dar today announced that Pakistans Gross Domestic Product (GDP) had grown 5.58 by the end of current fiscal year on June 30.2 per cent of GDP and it was now at 59. Proudly sharing the massive recovery of the economy, Dar said by 2030 Pakistan would be part of G20 group of nations.The finance minister shared the report of National Economy Survey 2016-17 ahead of federal budget which he would present before the parliament tomorrow.
Talking about debt, he said public debt was at 53..1 per cent of GDP in 2008, which went up to 60.He also said that by 2019 Pakistan would not need to go the IMF for loans.The remittances are expected to reach USD 19.28 per cent growth is less than our target but still is huge improvement to the 3.Dar said the FDI inflow would also double to USD 2.5 billion for this year.He said so far the country has lost USD 123.8 per cent, with the actual deficit registering at 3.7 per cent.The import of heavy machinery surged 70 per cent, textile sector showed a 23 per cent increase while the construction increased by 67 per cent and agriculture 37 per cent."As far as (lower-than-expected) exports are concerned, as oil prices declined so did the prices of commodities (which Pakistan exports)," Dar said. He also said that 25,000 security personnel were killed and as many were injured since the start of crackdown against terrorists post 9/11.
This is the first time in 10 years that we have crossed the five per cent GDP growth mark," Dar said.46 per cent and services 5.7 per cent."For the first time, Pakistans economy crossed the USD 300-billion mark," he added. Foreign reserves have increased to USD 21 billion from paltry USD 6 billion in 2013."By 2050, Pakistan would surpass Canada, Italy and South Korea," he said.Islamabad: Cash-strapped Pakistans economy for the first time crossed the USD 300-billion mark and achieved over five per cent GDP growth."
There has been a visible growth in the national economy.5 per cent when the government took over in 2013, he said."Pakistans growth is far better than the global growth," he said.28 per cent in fiscal year 2016-17, against the target of 5. He said there was 22 per cent growth in per capita income which has increased from USD 1,333 last year to USD 1629."The 5. Talking about growth of utilities, he said there was 3.The government also met its budget deficit target of 3."Our future is in diversified exports and we are focusing on IT exports for this purpose.4 per cent increase recorded in electricity, gas supply in the China Hosiery Machinery Suppliers existing fiscal year.98 per cent, the finance minister said.13 billion due to war on terror."When we took over, there was danger of default. "We had set a challenging target and I am satisfied with the growth," Dar said.