ISLAMABAD: Chairman China Pakistan Economic Corridor (CPEC) Authority Lt Gen (retd) Asim Saleem Bajwa has said all the major macroeconomic indicators were moving towards a positive trajectory due to immense hard work by the government.
On a social media website Twitter, Asim Bajwa said not without immense hard work, Pakistan’s economy performed beyond expectations with all major macroeconomic indicators showing a positive trend amid the Covid-19 pandemic.
The hard work resulted in 3.94 percent economic growth during the outgoing fiscal year, the Chairman China Pakistan Economic Corridor added.
Not without an immense hard work; Pakistan’s economy performed beyond expectations with all major macroeconomic indicators showing +ve trend amid Covid-19 pandemic, resulting in 3.94 per cent economic growth this fiscal year https://t.co/Jn1XIRH8gQ #PakistanMovingForward pic.twitter.com/yC0qDmoufe
— Asim Saleem Bajwa (@AsimSBajwa) May 22, 2021
It is pertinent to mention here that the National Accounts Committee (NAC) has estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent.
“Due to a combination of GDP growth and strengthening of Pak rupee against the US dollar, per capita income of Pakistan jumped by 13.4 percent during the current fiscal year (2020-21) from $1361 to $1543,” said Minister for Planning, Development and Special Initiatives Asad Umar.
He said total the GDP increase from $263 billion to $296 billion, an increase of $33 billion during the current fiscal year, was the highest ever in any year.
The minister said after compiling all the data, the NAC finalised its estimates that the GDP growth rate during the ongoing fiscal year was 3.94 percent despite the huge challenge posed to the economy by the COVID-19 pandemic. It was extremely gratifying and proof of the success of Prime Minister Imran Khan’s economic policies, he added.
The NAC, in its 103rd meeting chaired by the minister, estimated the provisional growth of GDP for 2020-21 at 3.94 percent, with current market prices reached at Rs 47,709 billion, showing growth of 14.8% s compared to the corresponding period last year.
