ISLAMABAD: Federal Minister for Finance Ishaq Dar has said that the world is acknowledging Pakistan’s economic development, ARY News reported.
Addressing the Conference of International Cotton Advisory Committee in Islamabad on Monday, Dar said that the economic growth rate has increased due to improvement in the agricultural sector of the country.
He also said Pakistan’s economic development is being lauded on international level.
The finance minister said that the cotton and textile sectors of Pakistan are key to economic growth.
He said the government has taken a number of steps to facilitate farmers both through budgetary proposals and under Prime Minister’s package for farmers.
He said there is concessional electricity tariff for agriculture sector besides ensuring availability of essential raw material.
He said economic policies of the government have led to macro-economic stability and the now the target is to achieve higher sustainable and inclusive growth. He said the growth momentum has remained above four per cent for the third consecutive year and real GDP was 4.7 per cent during last financial year. This would have been above five per cent but unfortunately failure of cotton crop by nearly 30 per cent brought down the rate by 0.5 per cent he added.
He said that Pakistan will be an attractive destination for investment and trade due to China Pakistan Economic Corridor (CPEC).
Dar stated that the federal government is working hard to make Pakistan a secured country for international trade.