GROWTH WILL REMAIN AT 4.8%,

Investment stalled due to NAB, laws will be changed to protect government officials and businessmen: Asad Umar

ISLAMABAD: Federal Minister for Planning, Development, Reforms and Special Measures Asad Umar has said that the main pillars of growth for the next financial year will be exports, industries, construction, IT, agriculture, poultry, and remittances.

With an increase of Rs 250 billion in the federal development budget, Rs 900 billion is going to be allocated. The country's economic growth rate for the next financial year is estimated at 4.8 percent. Investment is stalled due to NAB, to protect government officials and businessmen. These laws will change. 

Giving a media briefing on Friday, Asad Omar said that 4.8% GDP growth has been approved for the next financial year, remittances for the next financial year are estimated at .1 33.1 billion.

Rs 28 billion has been allocated for health sector projects, Rs 37 billion for HEC, and Rs 5 billion for skills education programs. The Finance Minister has approved the package proposal for the sectors which suffered during the Corona epidemic. Included in the priorities for the development of the stock and agricultural sector.

The Minister for Planning said that due to the supply of quality seeds and pesticides to the farmers, it is estimated to be 10.50 million bales for next year. Due to the increase in industrial activities, we Are also doing a forecast increase in power consumption.

Exports are expected to reach 25 25.2 billion this fiscal year and increase to 26 26.8 billion in the next fiscal year. He said remittances have risen to a record level this year, which is expected to touch 29 29.1 billion by the end of this fiscal year.

Asad Umar said that the annual development plan of PSDP is being increased from Rs. 650 billion this year to Rs. 900 billion for the next financial year. Which will also be helpful in development statistics.