Once the multibillion-dollar corridor is completed, the country’s economy is likely to see a boost of around two to three per cent of its gross domestic product.
This was stated by Planning Commission Deputy Chairman Sartaj Aziz while addressing the inaugural session of the second national conference on “Emerging Macroeconomics Issues in Pakistan: Challenges and future perspectives” at National University of Modern Languages (NUML) auditorium on Wednesday. The conference had been organised by the Department of Economics of NUML.
Aziz said that despite security issues, the government had managed to somewhat resuscitate the economy, taking the growth rate to five per cent of the gross domestic product. This figure, he hoped, would further improve once the China-Pakistan Economic Corridor (CPEC) is complete.
Proof of this, he pointed out, was the positive indicators international institutions were using for Pakistan’s economic situation, Moreover, he said that the government was trying to further stabilise the economic condition of the country.
Aziz said that the energy and security crises plaguing the country had destroyed its economy. Pointing to the visible positive indicators of economic growth, he said that now the situation had improved.
Load shedding, he hoped, would be eliminated by the mid of next year.
Even though he confessed that exports of the country had declined, Aziz attributed them to “certain reasons” and promised that the issue would be resolved soon.
Published in The Express Tribune, November 23rd, 2017.