Macro-economic Indicators Showing Accelerated Growth: Asad Umar
Mohammad Ali (@ChaudhryMAli88) Published January 21, 2021 | 07:00 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 21st Jan, 2021 ) :Minister for Planning, Development and Special Initiatives, Asad Umar on Thursday said that for the first time in a decade or more, the accelerated growth was being witnessed in major macro-economic indicators including current account deficit, large scale manufacturing industry and exports.
"Exports of the country in December 2020 witnessed a record growth of 18.5 percent which is highest in a single month in 12 years," the minister said while addressing a press briefing along with Minister for Power Omer Ayub here.
He said 15 Large Scale Manufacturing Industries also showed a sharp increase in November 2020 as it grew by 15 percent which was a record growth in several years.
Similarly, he said spending under Federal Public Sector Development Programme (PSDP) 2020-21 was also showing a healthy increase as the federal government spent a record amount of Rs 208 billion on development projects during first six months of the current fiscal year.
"This amount is 32 percent of total development outlay for the year 2020-21 which is the highest in eight years," Asad Umar added.
He said the journey of sustainable development under the incumbent government was getting pace which would continue in coming years.
Furhtermore, he said that the government had also improved monitoring of projects.
Likewise, Asad Umar said the Current Account Deficit had turned to surplus after decades.
He recalled that the previous government's performance was so poor that the deficit was expanding to over US $ 2 billion a month.
He said the Primary budget of the country was also in surplus that also was happening after several years.
He said a few weeks ago, the government had announced industrial tariff and after that about 8 percent additional electricity was being utilized by the industries.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
7 hours ago -
US stocks rebound on tech earnings, London hits new record
7 hours ago -
US approves gene therapy treatment for hemophilia
7 hours ago -
KATI president for inclusion of agri sector in tax net
7 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
9 hours ago -
Police to take every step for security of business community: IGP
9 hours ago
-
WB director, Planning minister discuss reforms in development projects
9 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
10 hours ago -
FBR’s data protection efforts commended by OECD assessment team
10 hours ago -
US stocks rebound on tech earnings, London hits new record
11 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
11 hours ago -
SBP to announce monetary policy on April 29
11 hours ago