Pakistan sets 4.8% GDP target for 2021-2022 fiscal

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Islamabad, Jun 7 (PTI) Pakistan Prime Minister Imran Khan, chairing the meeting of a top economic body, on Monday set 4.8 per cent as the GDP target for the next financial year starting July 1, a projection marginally higher than the current cycle.

The National Economic Council (NEC) approved over Rs 2 lakh crores for various development schemes for the year 2021-22, according to a statement by the Prime Minister Office.

Chief Ministers of all the provinces and other members of the NEC participated in the meeting, which also approved the Macroeconomic Framework for Annual Plan 2021-22.

“The proposed (GDP) growth target of 4.8 per cent was approved, with sectoral growth targets of 3.5 per cent for agriculture, 6.5 per cent for industrial, and 4.7 per cent for the services sector,” according to the statement.

The Council was informed that the focus of the development budget will be on infrastructure improvement, water resources development, social sector improvement, regional equalisation, skill development, promotion of science and technology, and IT, as well as climate change mitigation measures.

Addressing the meeting, Prime Minister Khan emphasised that the pace of implementation of development projects should be raised to ensure that the gains made through stabilisation of the economy could be translated into economic growth. PTI SH IND

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