Sunday, September 26, 2021

Pakistan fastest growing economy, claims Sartaj Aziz


ISLAMABAD: Deputy Chairman Planning Commission Sartaj Aziz on Tuesday said Pakistan’s economy had seen noticeable turnaround in the past four years as a result of macroeconomic and structural reform program.

“International rating agencies are predicting Pakistan to emerge as one of the fastest growing economies in the world in upcoming years,” he said while addressing a conference in Islamabad.

Sartaj Aziz said the real GDP growth was 5.3 percent in 2016-17, the highest in the last nine years due to improvements in energy supply and security situation.

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He said Pakistan needed to reposition itself in the world economy and the country’s outlook for economic growth was favorable due to the China Pakistan Economic Corridor (CPEC) investments, improved availability of energy, and growth-supporting structural reforms.

The deputy chairman Planning Commission said under the CPEC, there was great potential for industrial and agricultural development as both sectors were major contributors to Pakistan’s GDP. Moreover, nine Special Economic Zones along with the CPEC routes would help both sectors to increase their productivity as per their potential, he said.

He said we need political stability, national unity and a sound macroeconomic policy framework to take full advantage of the opportunities.

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