Pakistan’s economy is among the top performers of South Asia :

Lahore : Provincial Minister for Finance Dr. Ayesha Ghaus Pasha has said that according to the World Bank Report, Pakistan’s economy is among the top performers of South Asia with GDP growth expected to reach 5.2 percent in FY17,a substantial increase from 4.7 percent in FY16. Increase in GDP rate is conditional with the development of local export and SMEs. Punjab, Pakistan’s largest province in terms of population is also fully committed to play its part in order to establish a strong foothold as a growing economy and proactively working towards growth and prosperity and adopted inclusive and sustainable policies for the result oriented reforms in Energy, industry, agriculture, resource mobilization, employment and skills, Public private partnership and urbanization.

She expressed these views today at PC hotel during the launching ceremony of World Bank’s Bi-Annual Publication on economic developments in Pakistan “Pakistan Development Updates Spring 2017”.

Chairman P&D Jahanzaib Khan, WB Country Director Mr. Patchamuthu Illangovan, Lead Economist WB Mr. Enriqure Blanco Armas, Senior Economist Muhammad Waheed and Rector Lahore School of Economics Dr. Shahid Amjad Chaudhary were also present on the occasion.

Dr. Ayesha Ghaus Pasha informed the participants that Punjab Government is paying special attention to such areas for urban development and elimination of unemployment as should be attractive not only for local but foreign investors.

She said Safe City Project, Mass Transit, Knowledge Park, Solid Waste Management Company and Aashiyana Housing Schemes are part of this programme. She said that besides expansion of private sector, interest free loans are also being given for starting small business for alleviating poverty.

The Provincial Minister said that access to international markets would be possible for providing skill training to two million youth by 2018. She said that for the first time in the history of the country, interest free loans to small farmers, use of information technology and opportunities of benefitting from latest research are being provided so that they could play their fullest role in enhancing agri production as well as development of the country.

The Provincial Minister said that Punjab government’s project of Smart Punjab for   rural development and strengthening agri markets with the World Bank will be helpful in the rapid uplift of agriculture sector. She said that food shortage has reduced considerably due to reforms in social sector.

Dr. Ayesha Ghaus Pasha said that the trend of immunization and adopting cleanliness habits has increased among the rural areas.

She said that solar, wind, hydle and coal power plants have made possible for controlling energy crisis. She said that change in tax culture is playing important role in resource mobilization. She said special attention is being paid to public private partnership. She said that opportunities of business and conducive atmosphere for investment are being provided.

The Minister said that Punjab is ready to take maximum benefit from CPEC as not only law and order situation is better in the province but geographical, cultural and business atmosphere are also attractive for investors.

She thanked World Bank on preparing the report and added that it will inform the federal as well as provincial governments about the present economic situation and will be helpful in improving future performance.

Dr. Ayesha Ghaus Pasha congratulated Lahore School of Economic on organizing this function and invited to present proposals for the improvement of growth rate of Punjab.