Pakistan
GDP growth rate for next FY estimated at 4.8pc, Asad Umar
Federal Minister for Planning Asad Umar has said that the Gross domestic product (GDP) growth rate for the next financial year is estimated at 4.8 per cent.
Talking to the media, he said that priorities were being set for the development budget whereas remittances increased significantly.
The federal minister said electricity consumption was expected to grow by 6%, and after the government had announced a package for the industries, their power consumption had gone up 15% during the current fiscal — and in the next year, it is predicted to go up further.
He said that steps were being taken to ensure electronic voting and Prime Minister Imran Khan was constantly reviewing the progress of the system.
The Minister of Planning said that the development of the livestock and agriculture sector is among the priorities, adding that the poultry industry has been badly affected due to COVID which has led to an increase in prices.
He said that the relief package given to the industries has yielded very positive results, the development of the construction sector is encouraging and the country's exports are being boosted.
Asad Umar said remittances for the next financial year are estimated at $33.1 billion.
The federal minister said electricity consumption was expected to grow by 6%, and after the government had announced a package for the industries, their power consumption had gone up 15% during the current fiscal — and in the next year, it is predicted to go up further.
He said that this year, IT exports increased by 46% to $25.2 billion, the highest in 10 years.
He stated that there is a lot of growth in IT and digitization, next year the annual development programs are up to Rs900 billion.