ISLAMABAD, Jan 2 (Pakistan Point News - APP - 02nd Jan, 2017 ) : Finance Minister Senator Mohammad Ishaq Dar said on Monday the country's Gross Domestic Product (GDP) appeared to be on upward trajectory. Chairing a meeting here to review the economic performance in six months ended December 31, 2016, he said inflation was steady below 4% in December while average inflation during July-December was recorded at 3.88%, reflecting continued price stability.
The minister noted that the performance of Federal Bureau of Revenue was at around 7% during last sux months which reflected catching up of the shortfall experienced in the initial months, largely on account of giving relief to consumers on petroleum prices together with sales tax refunds of Rs 45 billion. On the expenditure side, the performance was on track as expenditure was allowed in a prudent manner in accordance with budget, and keeping in view the revenue growth, he added.
The minister, while expressing satisfaction on recent economic performance, noted that economic activities were picking up, investments were taking place, particularly in CPEC-related projects which would further accelerate after the recent understanding with Chinese authorities to further expand the scope of CPEC by including water security, Karachi Circular Railway, mass transit programme for Balochistan, projects for Khyber Pakhtunkhwa, and rehabilitation of Railways related project. He remarked that going forward, Pakistan would experience rising growth and creation of more job opportunities. The meeting was attended by the Finance Secretary and other senior officials of the Ministry of Finance.