Govt sets growth target of 4.8% for next fiscal year: Asad Umar
ISLAMABAD: Minister for Planning and Development Asad Umar on Friday said the government had set growth target of 4.8 percent for the next fiscal year.
He said the growth of 3.94 percent for the current fiscal year was driven by the productive sector. He said the government was ensuring quality and sustained growth.
Asad Umar said the main pillars of growth for the next fiscal year would be exports, industries, construction, IT, agriculture, poultry and remittances.
About the cotton crop, the minister for planning said it was estimated to be 10.50 million bales for the next year due to provision of quality seeds and pesticides to the farmers.
He said the government was also forecasting boost in electricity consumption due to increased industrial activity. He said the exports which were expected to be 25.2 billion dollars during the current fiscal year were estimated to increase to 26.8 billion dollars in the next fiscal year.
Asad Umar said the annual development plan, the Public Sector Development Programme (PSDP), is being enhanced to 900 billion rupees for the next fiscal year from the current year’s 650 billion rupees.
Giving an overview of the development spendings for the next fiscal year, Asad Umar said these envisage road infrastructure projects including Hyderabad-Sukkur motorway.
He said the packages announced for Karachi, and select districts of Sindh and Balochistan and Gilgit-Baltistan will be financed from the PSDP. Similarly, funds will be provided from the development plan for the construction of dams.
He said 28 billion rupees will be allocated for the health and 37 billion rupees for the Higher Education Commission. He said five billion rupees have also been allocated for the Skills Education program.