Business
May 25, 2021
KARACHI: Pakistan can achieve higher gross domestic growth in the coming fiscal years if it focuses on diversifying exports and increasing investments, central bankâs Governor Dr Reza Baqir said on Monday.
âEfforts need to be made to grow Pakistanâs GDP in the next 5 years and we have all the capabilities to achieve this target. We have been able to increase our gross and net reserves. We need to diversify our export base as other nations have done,â Baqir said at the virtual CFO Conference 2021, organised by ICAP.
He said that the challenges for the developing countries in the new normal were unprecedented, causing economic, social and sustainable development concerns. The pandemic has pressed the reboot button of economies globally with long lasting impacts including lower investment, erosion of human capital to lower productivity, limited income growth and structural transformation in countries across the world, he added.
Diversity in exports to achieve higher growth in coming years: SBP Governor Baqir
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Diversity in exports to achieve higher growth in coming years: SBP Governor Baqir
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Economy on solid growth path: experts
Analysts say GDP growth rate of 5-6% per annum is going to be a ‘new normal’ in next five years
May 17, 2021
ISLAMABAD:
Pakistan economy is on a solid growth path and has the potential to grow at much higher rate in the next five years despite a challenging environment across the globe, Dubai-based Khaleej Times reported while quoting experts.
Top government officials, analysts and corporate leaders repose trust in the growing economy and said GDP growth rate of 5-6% per annum is going to be a “new normal” in the next five years amid strong economic indicators of the country, the newspaper said.
Government to focus on SME sector
SBP governor, finance minister discuss features of new credit scheme for small businesses
ISLAMABAD:
The provision of microcredit would create employment opportunities at the local level and, in turn, enhance GDP growth and help in achieving sustainable and robust economic growth, said Finance Minister Shaukat Tarin.
His comments came during a meeting held to discuss features of a new credit scheme for the small and medium enterprise (SME) sector.
State Bank of Pakistan (SBP) Governor Dr Reza Baqir, who was present on the occasion, spoke about the proposal for the provision of funds for small businesses (without collateral) for up to three years through the network of commercial banks.