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Pakistan targets a GDP growth rate of 4pc

SAMAA | - Posted: May 10, 2014 | Last Updated: 8 years ago
Posted: May 10, 2014 | Last Updated: 8 years ago

ISLAMABAD: Federal Minister for Finance, Ishaq Dar, Saturday said the government had to take some unpopular decisions to shore up Pakistan's economy, Samaa reported.

“Country's economy was down in the dumps when Pakistan Muslim League-Nawaz (PML-N) took the helms of affairs. We just could not let Pakistan go bankrupt to earn political applause. The path we chose was tough on us as we were subjected to all kinds of criticisms but it paid in the end”, said he, during a press conference with the International Monetary Fund (IMF) officials here.

He told the media that the lender of last resort (IMF)  was satisfied with Pakistan's timely repayments.

Dar proudly projected Pakistan's foreign exchange reserves to reach $15 billion in September from a current $13 billion.

He announced the government was eying an average economic growth rate around 4 percent, which was quite achievable if things go accordingly.

“For the current fiscal year, we are targeting an average GDP growth rate of at least 4 percent as it has been a heartening 4.1 percent in the first six months of FY2014”, said he.

The finance minister announced that Federal Bureau of Revenue (FBR) would work six days a week to meet the tax collection target. “Henceforth, the FBR employees’ weekend is only Sunday, so they will also work on Saturdays as it is required of them now”, said he.

Reaching towards the end to of his press talk the minister also vowed to inject around 10, 000 megawatts of electricity into the national grid by 2015.

Portraying a robust picture of country’s economy, he said that the government was trying its best to improve the living conditions of the masses.

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