GDP growth to exceed 5% this year: PBC Dubai chief

Official says Pakistan moving away from being agricultural country

ISLAMABAD: Pakistan is gradually transforming from an agricultural-based country to an industrial and service-based economy, Pakistan Business Council (PBC) Dubai President Tanvir Khawaja said. Talking to Khaleej Times, he said the national economic growth is expected to climb above 5% this year from last year’s 4.24%.

He said the Pakistan Business Council, in collaboration with the Dubai Chamber of Commerce and Industry, was playing an important role in strengthening the bilateral relationship between the two brotherly Islamic states.

“The UAE is Pakistan’s largest trading partner and bilateral trade between the two sides is approaching $10 billion a year due to joint efforts,” he said. He said healthy economic indicators suggest that, as a result of consistent policies, Pakistan’s gross domestic product growth is expected to touch 6% in the next couple of years.

“All Pakistanis should renew their resolve to bring the country to the forefront of the comity of nations,” Khawaja said.

The PBC official said that the China Pakistan Economic Corridor (CPEC) will be a key growth driver in the coming years and play an important role in the economic revival of the country.

“The CPEC project will stimulate growth and pave the way for development of the country. The new proposed trade link between China and Pakistan will also benefit the UAE and other Gulf Cooperation Council (GCC) countries over the next five to ten years,” he said. 

Published in The Express Tribune, March 25^th, 2016.

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