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Pak Expects Economic Growth of 4.5-5 Percent
An economic growth of 4.5 to 5 percent will be maintained this year in view of expansion in the industrial, agricultural and services sectors, Finance Minister Shaukat Aziz on Wednesday said in an interview with Pakistan Television.
The expansion is expected in the industrial production where there is a lot of capacity particularly in the textile sector, but in the agricultural sector, it will not be as strong as desired because the water shortage would have an impact, he said.
Aziz noted that many good things are happening in the economy. Agricultural sector continues to do well despite water shortages; industrial production in the first five months is up by 8 percent, the highest in a long time; export growth and revenue collection is also certainly headed in a right direction.
He said there are no short-term solutions and gimmicks to solve the fundamental economic problems. The economic growth needs sustainable, consistent policies based on deep structural reforms and that is what the government is trying to do.
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