NEC Meeting: PM says govt. tried its best to ensure sustainable economic growth

NEC Meeting: PM says govt. tried its best to ensure sustainable economic growth

Prime Minister Yousuf Raza Gilani, while addressing the National Economic Council meeting yesterday said that although his government had to face some serious economic issues inherited from the previous ruling lot, they have tried
their best to achieve robust and sustained economic growth.

He said, “Since inception of our Government in 2008, we had to face serious challenges that hampered our efforts to achieve high economic growth. These challenges included world-wide economic recession, back-to-back floods in 2010
and 2011, rising international food and fuel prices, security issues, energy shortages, infrastructure constraints, subsidies, circular debt and loss making public sector enterprises. It all negatively impacted investment in the country and kept the economy
under pressure.”

Talking about his government’s efforts to put the country’s economy on track, the PM said, “Notwithstanding, serious impediments and challenges, our Government has tried its best to achieve robust and sustained economic growth,
improve investment climate, create employment opportunities, improve social sector service delivery and to reduce poverty from the country.”

He claimed of introducing prudent policies while taking reforming measures as part of the stabilization programme. And while doing, so, he said, the biggest aim before the govt. was to control the unbridled fiscal deficit that
had already reached to an enormous 7.6% of the GDP.

Talking about some of the major achievements his PPP led coalition government could succeed in achieving, the PM said that during last two years, we were able to achieve a growth rate ranging of about 3.4 %. Admitting that this
growth rate was not enough to meet the challenges of increasing unemployment and reducing the ever increasing poverty, Gilani said that they were taking measures to make the economic growth rate reach and sustain at at least 7 % of the GDP.

And in achieving this otherwise surmounting GDP growth target, he claimed that his government has already laid a clear mechanism supported by an efficient economic framework. In reaching this target, he said, by the next year,
the GDP growth will reach to 4.3 %.

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Posted by Fayyaz Yaseen on May 25 2012. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry