ISLAMABAD, Dec 13: Prime Minister Nawaz Sharif has said the country’s economic growth had increased to 5.1 per cent from last year’s 2.9pc.

“We want to take the GDP growth rate to 7pc over the next four years,” the prime minister told a delegation of parliamentarians from Sahiwal and Multan divisions which had called on him here on Friday.

He claimed that economy was better in 1991 during his first tenure as prime minister and Pakistan was at parity with its neighboring countries and even ahead in some aspects. “But lack of decisions on important projects has led us to the situation we are facing today.”

Mr Sharif said the grant of GSP plus status would benefit many sectors of the country, including textiles and leather industry. He said the Asian Development Bank’s decision to invest in the Jamshoro coal power plant would pave way for investment in the Gadani coal power project. With these projects the country would be able to achieve its energy targets in three to four years.

The prime minister said the newly launched Youth Business Loan Scheme would benefit about three million people in the first phase. He rejected a perception that inexperienced youth would waste the loan, expressing confidence that they would utilise the money judiciously.

Mr Sharif said banks had been giving large loans to big industrialists, but there was a need to trust and invest in small and medium enterprises.

He said the issue of electricity shortage could not be resolved overnight and added that long and short-term plans had been made to overcome the crisis.

On terrorism, the prime minister said the path of dialogue had been chosen in line with a decision taken at an all-party conference and expressed the hope that the dialogue would bear fruit.

He said the operation in Karachi had been successful, adding that necessary legislation had been enacted to bring culprits to justice.

The parliamentarians expressed confidence in the leadership of Mr Sharif and said that “revolutionary steps” taken by him would change the “destiny of the country”.

They also discussed with Mr Sharif matters relating to their constituencies.

The Minister of State for Parliamentary Affairs, Shiekh Aftab, and MNAs retired Captain Safdar and Hamza Shahbaz also attended the meeting.—APP