Finance Minister Ishaq Dar chaired a meeting Monday to review the economic performance in the six months ended 31st December 2016. The Finance Minister noted that GDP growth appears to be on upward trajectory and inflation was steady below 4 percent in December 2016 while average inflation during July-December 2016 was recorded at 3.88 percent, reflecting continued price stability.

The Finance Minister noted the FBR performance at around 7 percent for the six month period ended in December 2016, reflecting 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 billions. 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.

The Finance Minister, while expressing satisfaction on recent economic performance, noted that economic activities are picking up, investments are taking place, particularly in the CPEC-related projects which would further accelerate after the recent understanding with Chinese authorities to further expand the scope of the CPEC by including water security, Karachi Circular Railway, mass transit programme for Balochistan, projects for Khyber Pakhtunkhawa, and rehabilitation of Railways-related project. He further remarked that going forward, Pakistan would experience rising growth and creation of more job opportunities.

The meeting was attended by the Finance Secretary and senior officials of the Ministry of Finance.-PR

Copyright Business Recorder, 2017