LAHORE: The country’s leading economists have expressed mixed view on the provisional estimate of 3.94 per cent GDP growth rate projected by the National Accounts Committee (NAC) and said it negates the government’s own estimate of 2.9pc GDP growth approved by the federal cabinet last month.
Last month, the federal cabinet approved the medium-term budget strategy paper and shared it with the International Monetary Fund (IMF). In this paper, the government estimated 2.9pc GDP growth for ongoing fiscal year. “But now, all of sudden within a couple of weeks, how it has jumped to 3.94pc,” wonders former finance minister Dr Hafeez Pasha. “The State Bank of Pakistan’s estimate ranged between 2.8pc and 3pc while the estimates of the IMF and the World Bank stood at about 2pc and 1.5pc, respectively,” he said.
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NEW YORK: Trucks carrying processed leather from Uzbekistan have arrived in Pakistan, a sign that the southern Asian economy’s efforts to expand land trade in its neighborhood are paying off,.
Govt plans silos dedicated to farmers
Business
May 21, 2021
ISLAMABAD: The government is planning storage houses dedicated to farmers’ produces under the phase two of agriculture transformation plan, a PM aide said.
Special Assistant to the Prime Minister on Food Security Jamshed Cheema said the training of farmers for better output is necessary and can be done by bringing together farmers and providing extension services from the agriculture transformation plan (ATP).
Cheema emphasised importance of marketing for the ATP to be effective, while addressing a meeting on sub-group of the Economic Advisory Council chaired by the Minister of Food Security and Research Fakhar Imam.
Better coordination key to develop Balochistan
Business
May 20, 2021
ISLAMABAD: Ghaus Bakhash Marri, Balochistan’s Chief Economist Planning & Development on Wednesday blamed lack of coordination between various government departments as one of the major hurdles in bringing investment in renewable energy projects.
“Besides, security related issues are also an impediment in achieving sustainable development in the province.”
He expressed these views at the public private dialogue “Roadmap for Sustainable Development of Balochistan: Aligning development priorities with Clean Energy Transition pathways”, organised by the Sustainable Development Policy Institute (SDPI) on Wednesday. He emphasised that ease of doing business must be taken care of to tap the real potential of investment. “There is huge potential of wind energy in coastal belt and solar in the whole of Balochistan. However, the lack of transmission infrastructure and rural electrification is a bottleneck i