KARACHI – The GDP Growth projection for Pakistan is estimated to be 3.5 percent in the fiscal year 2021 -22. The main reason is Fiscal Deficit, Huge Debt Servicing, and Trade Deficit. We are continuing with the serious financial crisis and huge joblessness without any break said ateeq ur Rehman (economic & financial, analyst).
Inflation is also growing owing to ballooning POL Prices, Mammoth Electricity Charges and Enormous Gas Prices and that is also without any competence. This is a common feature. The cost of production has gone as high as un-competitiveness.
He added that under the circumstances attaining a higher GDP growth is difficult due to less production of goods and agriculture produce. All in and all out efforts have to be made to attend the growth which shall include reduction in Imports of raw material & luxury goods, increase the manufacturing capacity including value addition and accomplish the agricultural targets.
We have to facilitate and attract investments including FDI and Portfolio.
In order to achieve tremendous growth in GDP, Government has to seriously work for essential one window operation, encouragement at economic zones with total utility infrastructure, elimination of corruption at grass root level and of human security said ateeq.
