GDP growth of 4.8pc approved for next fiscal year: Asad Umar

ISLAMABAD: Federal Minister for Planning and Development Asad Umar on Friday said that a GDP growth of 4.8 percent has been approved by the federal government for the next fiscal year, ARY NEWS reported.

He said this during his visit to the Islamabad Chamber of Commerce today as the government announced that it had achieved a growth target of nearly four percent in the outgoing year.

“Annual Plan Coordination Committee (APCC) is also reviewing other economic targets for the next year,” he said while addressing the business community and added that their GDP growth will be more than that of the growth posted during the last year of the PML-N tenure.

The planning and development minister said that an unnecessary hue and cry was raised over the GDP growth with people saying that international bodies have projected less growth. “We are making decisions with a better intent and do not want to shut down businesses and impose lockdown,” he said.

The minister, however, defended the strict restrictions during Eid and said that lessening of the restrictions in the previous year led to a second COVID wave in the country, however, this year, they were able to cope up with the situation in a better way.

While urging people to get vaccinated, Asad Umar, who also heads the NCOC forum, said that 21 percent of the Islamabad population has received COVID jabs. “There is sufficient vaccine in the country and vaccination centres are opened at various places to facilitate public,” he said.

He further announced a package, under preparation in the industries ministry, for sectors that have suffered during the pandemic.

Asad Umar further said that a rent-related bill which was the demand of the Islamabad business community is currently facing a delay in Senate due to opposition parties.