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Economic indicators of Pakistan are on track, says Dar

DUBAI:  Federal Finance Minister Ishaq Dar informed official of International Monetary Fund (IMF) that government is following economic reform and Pakistan is on positive track of economy, ARY news reported.

During his meeting with IMF delegation in Dubai, Ishaq Dar said first quarterly results of economic growth in Pakistan indicate that GDP had shown a growth of 5 per cent in the first quarter as compared to 2.9 per cent of the same period last year.

He further informed that Large Scale Manufacturing (LSM) had shown a positive growth of 5.2 per cent during July-November 2013 as compared to 2.2 per cent in the comparable period last fiscal year.

Ishaq Dar said that the imports increased by 3.9 per cent while export by 3.9 per cent higher than last year, adding that the import of machinery at 26 per cent over last year is the indication of economic activities taking place.

The Minister said remittances witnessed an increase of 9.5 per cent higher than last year which was helping Balance of Payment (BOP) position. He said inflation also showed improvement and was recorded at 7.9 per cent in January 2014 as compared to 8.1 per cent in January 2013.

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