January 07, 2008	Monday	Zilhaj 27, 1428

ISLAMABAD, Jan 6: Pakistan will achieve its economic targets this year despite a wave of unrest and turmoil following the assassination of former premier Benazir Bhutto, the caretaker finance minister told AFP on Sunday.

The State Bank of Pakistan in its first quarter report on Saturday said the economic growth “is expected to remain below the annual target of 7.2 per cent.” But Salman Shah, the caretaker finance minister, said the bank had pushed its growth estimates down and he remained sure original targets could be reached.

“Pakistan can achieve the 7.2 per cent economic growth target if elections are held in a smooth manner,” he said.

He said: “If there is any risk to the economy that is a political risk. If there is reconciliation and consensus on promoting the economy among political parties, we can achieve all economic targets.’’

An increase in global oil prices up to 100 dollars per barrel, which has jacked up costs in Pakistan, has not yet been passed on to users but the government will be unable to maintain the price indefinitely.

He said: “We are giving a subsidy of 14 billion rupees (23 million dollars) on oil prices, but now we will have to gradually pass the cost to the consumers,” Shah said.—AFP