Dar informed the agencies that in the medium term, Pakistan’s GDP is expected to increase from 3.6% to 7% and the tax to GDP ratio is expected to improve from 8.5% to 13%. PHOTO: INP/FILE
Talking to media in Washington, Dar said major financial institutions now agree with Islamabad that Pakistan's GDP growth would surpass their earlier projections.
Dar said the country now has access to $1 billion for the current year under its International Development Association and the World Bank is likely to approve the funds at its meeting next month.
With World Bank support, Dar said Dasu Dam, Diamer-Bhasha Dam and 19 other flagship projects have been envisioned for the next four years.
Tax revenue up by 17%
Separately, in a meeting with British Secretary of State for International Development in World Bank Justine Greening in Washington DC, Dar said tax revenue has increased by 17% while exports have witnessed an increase of 6% this year with Standard Regulatory Orders yet to be eliminated.
Dar said that capital market transactions between $2-&2.5 billion have been planned by the end of September 2014 and it includes OGDC and PPL.
Meeting with financial rating agencies
In a meeting with financial rating agencies including Standard and Poor, Moody’s, the agencies hinted that if Pakistan continues to improve its economic performance, it is expected that Pakistan’s rating would be improved.
Dar informed the agencies that in the medium term, Pakistan’s GDP is expected to increase from 3.6% to 7% and the tax to GDP ratio is expected to improve from 8.5% to 13%.
He further said that the government aims to curb inflation to 8%.
COMMENTS (7)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1732184775-0/BeFunky-collage-(80)1732184775-0-165x106.webp "article")
how can these leaders can make Pakistan self reliant,they are product of rigged election..there motto is to loot and transfer the money to of shore account
@Asim Ali:
" Why cant the country’s leaders set a vision of building cars and locomotives, building rail tracks or smart phones."
Why can't? Because there is no money for development, economic growth and social projects. Why there is no money? Remember the national priority and slogan "we will eat grass to get nuclear weapons and bleed India through 1000 cuts in a 1000 year war"?
Charles Sobhraj is running the finance ministry, Veerappan has the interior ministry. Result is Pakistan totally collapsing in 5 years, while darbaris (like the Gallop dude) telling us sub achha hai.
May I ask that if it was so simple and easy to bring the dollar so low so fast why the public was made to bear losses in billions for so long.Who is responsible for the irreparable loss to the overall economy of the country.Why are we made slaves of IMF for no good reason.If it was that easy to bring dollar down why so many have been made perpetual patients of depression due to economic losses they had to suffer
Ishaq Dar 'The Loan Guru' on a roll again.