Business community hails Pakistan’s pro-growth budget

  • Date: 13-Jun-2021
  • Source: Gulf Today
  • Sector:Economy
  • Country:UAE
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Business community hails Pakistan’s pro-growth budget

Inayat-ur-Rahman, Pakistan has announced Rs8.4 trillion ($54 billion) budget for the next fiscal year, basing it on an ambitious growth target of 4.5 per cent and tripling spending on public sector development with an election just two years away. A cross-section of Pakistani business community in the UAE and financial analysts shared their candid views with Gulf Today, adding that the budget is poor-friendly and growth focused. Shan Saeed, Chief Economist at Juwai IQI, told Gulf Today that in his opinion, it is a very pragmatic budget taking all the variables into account and the global economic fragilities in the region. It's a people centric budget i-e the biggest stakeholder of the country, Pakistani people. Imran deserves applause for focusing on lifting the masses and providing them better standard of living. "The strategic intent of the budget is growth focused, confidence driven and people centric budget. If Pakistan can achieve a GDP growth rate between 4.5% and 5% by June -2022, Pakistan's economy is heading for take off stage. Macroeconomic stability is vital for growth outlook of Pakistan.“ "Pakistan has the resilience to make a turnaround and heads north in the coming years. Pakistan can easily achieve the growth target