Average National Economic Growth Reaches 4.85% In Five Years, Becomes World's 5th Fastest Emerging Force: Ahsan Iqbal

Minister for Planning, Development and Reforms Professor Ahsan Iqbal Friday said average growth of national economy remained 4.85 percent during the last five years as compared to 3 per cent growth rate during tenure of the previous government, and Pakistan become the fifth fastest emerging country among comity of the nations, showing remarkable increase of 2 percent.

ISLAMABAD, (UrduPoint / Pakistan Point News - 09th Mar, 2018 ) :Minister for Planning, Development and Reforms Professor Ahsan Iqbal Friday said average growth of national economy remained 4.85 percent during the last five years as compared to 3 per cent growth rate during tenure of the previous government, and Pakistan become the fifth fastest emerging country among comity of the nations, showing remarkable increase of 2 percent.

"The Government has managed to reshape the course of national economy as per promise made in 2013 which is evident from the fact that the international rating agencies are now acknowledging Pakistan as one of the top few emerging economies of the world, who were earlier describing it a sinking economy " he said while addressing a joint news conference along with Adviser to Prime Minister on Finance Dr Miftah Ismail and Minister of State for Finance Rana Muhammad Afzal Khan here.

Making five-year performance comparison of the Pakistan Muslim League-Nawaz (PML-N) government with the previous regime, the minister said that at present, the agriculture sector growth reached 2.5 percent from 1.5 percent, while industrial sector had climbed to 5.6 percent from 2.7 percent, which is being appreciated by international institutions.

Now, Ahsan said, size of the national economy was around $ 315 billion, which was stagnant at around $ 210-215 billion, adding that achievement made on various fronts by the PML-N government could not be ignored.

The minister said the country also witnessed tremendous progress in the energy sector and succeeded in breaking the backbone of terrorism, which had been affecting the national economy. He said Overseas Investors Chamber had reposed all-time high confidence in Pakistan's market.

He said the government made highest investment in higher education sector, which triggered a new wave of development in universities across the country to expand scientific and laboratory programmes.

He said the present government when came into power, pledged to give special focus on 4 Es including Economy, Energy, Elimination of extremism, and Education and the current figures of macroeconomic indicators of the country were showing enormous change.

He said the menace of extremism had almost eliminated, economy had witnessed rapid growth, while energy crisis had also controlled as the load shedding period had been dropped from 18-20 hours a day to only two hours.

Besides, he said the government had also allocated the highest amount in the country's history and highest number of scholarship were awarded to brilliant students for higher education in top universities of the world.