Fiscal, trade deficit, low investments hindering economic growth: Asad Umar

News Image

MG News | January 24, 2019 at 09:10 PM GMT+05:00

0:00

ISLAMABAD, Jan 24: Finance Minister, Asad Umar while addressing a press conference here Thursday enumerated three main problems Pakistan was facing at economic front that result in unsustainable economic growth over a long period of time.

The press conference followed the presentation of economic reforms package at the National Assembly. The minister was flanked by Adviser to PM for Commerce, Textile and Industry Production Razzak Dawood, Minister of State for Revenue, Muhammad Hammad Azhar and other officials of the ministry.

The minister identified the budget deficit as one of the major causes of economic problems, saying that the expenditures of the government were exceeding the revenue collection.

The minister said that similarly another major challenge was the increasing trade deficit as the country was exporting less compare to imports.

He said that third issue the country was facing that investment to GDP ratio was as low as 15-16 percent which needed to be enhanced upto 25-30 percent but added that only investments would not help overcome economic problems, there is need of national savings.

The minister was of the view that Pakistan was lagging behind in economic growth and there were just a few counties which are now behind Pakistan in growth, so there is need to work hard to put the country on development path.

He said that the new journey of economy growth and development has started with the announcement of reform package.

The minister said that the uncertainty in drawing rooms and TV talk shows was vast, but it does not reflect actual situation.

 

(APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg