Govt unlikely to achieve 4pc GDP growth rate
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Islamabad—Independent economists have said that keeping in view the current economic situation of the country government is unlikely to achieve 4 per cent GDP growth rate during current financial year 2011-12.
Talking to Online on Sunday renowned economist Dr. Salman Shah said that if country’s agriculture sector performance remained good then GDP growth rate is expected around 3.5 per cent.
“Manufacturing sector growth is likely to remain low due to power cuts and also there was not positive indication to increase investment in the country during on going fiscal year,”Dr Salman Shah added.
President Pakistan Economy Watch (PEW) Dr.Murtaza Mughal said “GDP growth rate is expected in the range of 3 to 35 per cent during on going financial year and this will only be possible if agriculture sector shows good performance and country remained safe from floods.”
He said that economic stability depends on political stability and every one was well acquainted with the country’s political situation and keeping in view the internal economic challenges how it would be promising to achieve around four per cent GDP growth rate.
It may be recalled here that last week Prime Minister Syed Yusuf Raza Gilani said in policy statement that country’s GDP growth rate was expected to remain four percent due to the potential good performance of the agriculture sector.—Online
