Economy to improve in 2020, says Asad Umar
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Federal Minister for Planning, Development and Special Initiatives Asad Umar has said that the national economy would improve in 2020 and inflation would also be reduced during this year, Associated Press of Pakistan reported on Wednesday.
Talking to a private news channel, Umar said that speedy development would be seen in the country as a larger budget would be allocated towards it.
He said that the government is also taking steps to reduce the percentage on interest rate this year, adding that investment would be enhanced through cooperation between public and private sectors in the country.
The minister said that the federal government would start mega projects in Karachi with the help of the private sector.
In response to a question, he said that water, transport, sewerage and the sanitation system are the major problems faced by the people of Karachi and the federal government is taking steps to resolve them.
He said the government, with the help of political parties — including Muthida Quami Movement-Pakistan and Pakistan Peoples Party — would provide the facilities to people of the mega city without any discrimination.
Asad Umar assured that the federal government is ready to provide full support to the Sindh government for development projects in the province.
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Comments (53) Closed
Jan 15, 2020 09:00pm
We did not see changes in 2 years and we are sure will not see any changes in coming 2 years.
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Jan 15, 2020 09:11pm
He tries at least and tells the truth.
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Jan 15, 2020 09:11pm
If it's not one great leader from pti making announcements, it is another. Zero performance, all talk.
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Jan 15, 2020 09:14pm
We have been hearing stories with no results.
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Jan 15, 2020 09:18pm
Just said it!! waiting for miracle to happen.
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Jan 15, 2020 09:21pm
@Orakzai, so blame both Nawaz and Imran.
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Jan 15, 2020 09:26pm
Miracle will happen itself,no need to do anything.
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Jan 15, 2020 09:30pm
Just like was said in 2017? 2018? 2019?
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Jan 15, 2020 09:30pm
More like 2050!
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Jan 15, 2020 09:34pm
first of all I want to say there are a many month passed to the PM imran khan to do a job in better way even i can't see a single changing (tabdeeli) which he had done still now . poor people are so warried about to purchased such a expensive things to survive even he couldn't afford . so do action on it immediately and make a people of pakistan to live so happily.
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Jan 15, 2020 09:35pm
How can I convince my self that this is not political statement?
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Jan 15, 2020 09:47pm
As always he is clueless.
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Jan 15, 2020 09:59pm
No it is not. All financial institutes have said that things are going to remain the same or even get worse by 2021. After that the situation might improve. I am saying "might", not "will".
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Jan 15, 2020 10:02pm
The man is predicting future and he can not find his behind with both hands. IK has hired people like Asad Umar who has been oversold for the job.
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Jan 15, 2020 10:07pm
Again new stories!!!
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Jan 15, 2020 10:09pm
Asad Umar is the epitome of 'all talk, but no substance'. Should have stuck with his private sector stints.
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Jan 15, 2020 10:22pm
I think the PTI government has lost its way. Why Mr Umar is talking about the economy when he had resigned as the Finance Minister? Every now and then we hear honey glazed talks on the economy but no visible results.
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Jan 15, 2020 10:24pm
People forget that When PTI took over the country, it was bankrupt.
Shariffs and Zardari ruled for 35 years and left country bankrupt.
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Jan 15, 2020 10:36pm
sincere and honest person
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Jan 15, 2020 10:51pm
According to World Bank forecast: 2020 Pakistan GDP 2.4%.
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Jan 15, 2020 11:07pm
There is major distance between reality and lip service, which made people of Karachi pessimistic. "WILL AND WOULD" should be changed to "DID AND HAVE DONE" with tangible proofs. No more "BS" please and have mercy for Karachi people those are just made to suffer.
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Jan 15, 2020 11:18pm
This is a start, but seeing is believing.
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Jan 15, 2020 11:27pm
The problem is how to give development budget to mqm and ppp and take credit for the development.
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Jan 15, 2020 11:35pm
Yes to any mega project, but only those which can prove financially viable. Nawaz Sharif built a number of 2 and 3 lane motorways, and even after years, we only see a handful number of vehicles on them at any given time.
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Jan 15, 2020 11:49pm
He said same thing in 2018 and early 2019 when he was finance minister.
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Jan 16, 2020 12:08am
@AAMIR ALI, Inflation is everywhere. Including in the developed countries. I live in Canada and there is no vegetable that sells less then 2.50-3.00 dollars a pound. What I used to buy for 0.59 cents about 10 years back now sells for nearly 3.00 dollars.
In the case of Pakistan, the economy was poorly managed for the last 10 years or so. Give Imran some time. He will turn things around, because he is an honest Pakistani and dearly feels for the country.
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Jan 16, 2020 12:10am
@Dr. Khalid Iqbal, Go ask the PPP why they did nothing for Karachi in the last 15 or so years? Why then do you want change to happen in 16 months. Additionally, the provincial government in Sind belongs to PPP.
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Jan 16, 2020 12:27am
Another fake promise. Every year begins on this note in Pakistan. People are losing patience.
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Jan 16, 2020 01:13am
@kamal chowkidar, you've been telling them too
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Jan 16, 2020 01:37am
In response to a question, he said that water, transport, sewerage and the sanitation system are the major problems faced by the people of Karachi and the federal government is taking steps to resolve them.
Mr Umer, exception of transport, Punjab has the same issues, every city in Pakistan has the same issues, Karachi isn't the only city affected by them. Please no point scoring, issues should be resolved across the board, PTI is trying to politicize it ever since MQM started talking about their concerns and the governments lack of fulfilling their promises, then PML-Q, get your ducks in a row sir, you'll lose all the parties who helped you win the election
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Jan 16, 2020 01:37am
How Mr. Minister? Still all big talk and no solid plan
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Jan 16, 2020 01:59am
Its called "Talking loud saying nothing" Of course he's going to say all that. if you are expecting any PTI leader to stand on the podium and say, we are going to have horrible economy, economy will not improve for another two years, then you are asleep at the wheel.
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Jan 16, 2020 02:21am
CPEC will kick in any second. Don't blink.
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Jan 16, 2020 02:29am
But your boss told us it’s already improved and everything is fine
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Jan 16, 2020 03:06am
I thing the country needs a majician because people want solutions in days and months.
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Jan 16, 2020 04:42am
@AAMIR ALI, what are you trying to say?
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Jan 16, 2020 05:20am
Will this change in economy merely means that the government will take measures to artificially and temporarily increase the dollar reserves, report the foreign investments based on the MoUs - which hardly get materialised and play with the stock exchange gurus to indicate a bullish economy. I doubt that any of the current regimes measures will improve economic facts for the public. The normal household has been and will always keep on paying more and more and will be suffering. In the last 7 decades or more we have only heard from every incoming government that the root cause of the uncontrollable inflation and loss to poor peoples buying power was due to previous governments. Things have never changed and triggered loss of intellectual capital from Pakistan. Young generation was forced to take necessary education and fly out to seek better living for their families abroad. What a shame! No more hopes from Imran Khan government even!
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Jan 16, 2020 05:32am
We knew that, but by what percentage, 3.2%? and inflation13.5%
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Jan 16, 2020 06:14am
Ok, we believe you . Please tell me how is going to improve while other economical indicators tell us other bleak future of our economy.
May be there is disconnect how government sees the health of economy and How the public feels the impact.
Sitting in climate control houses and offices , sipping tea and drinking bottled water will not give the sense how people live in shanty towns with no heat, no water , and no steady source of income.
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Jan 16, 2020 06:27am
@A shah, still a hope.
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Jan 16, 2020 07:17am
Sure, like it did when you were at the helm of financial affairs!
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Jan 16, 2020 07:26am
@kamal chowkidar,
Funny. Those would be stories from your fakes in BJP who have ruined your economy.
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Jan 16, 2020 07:27am
@Orakzai,
Mr 'Pakistani', our government's term is five years. Nice try.
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Jan 16, 2020 09:17am
What is the game plan ?
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Jan 16, 2020 09:47am
Pakistan economy suffered the most when Mr Asad Umar was finance minister in 2018/19. Current inflation rate in Pakistan is 12%; a very sign of any economy, so better stop sloganeering. People are really sick of you PTI folks, better get your house in order soon and deliver otherwise you all will be history.
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Jan 16, 2020 09:54am
The progress is zero and will be zero. Please step down and resign from the post as being incompetent.
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Jan 16, 2020 10:47am
The biggest failure of PTI Government "Asad Umar"
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Jan 16, 2020 11:42am
@Orakzai, after bankruptcy,initial recovery process takes three to four years minimum. Before criticising you must read the economic recovery in Iceland,Greece and Cyprus which are 21st century examples and they recovered through IMF but patiently and through foĺlowing IMF strategies.
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Jan 16, 2020 11:43am
@ur mom, exactly.
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Jan 16, 2020 01:04pm
These kinds of false statements are reason for increasing happiness of Pakistanis...
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Jan 16, 2020 01:06pm
Dar was better
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Jan 16, 2020 01:34pm
Every day brings new prediction of improvement from the Government mouthpieces. Improvement cannot come by mere wishing.
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Jan 16, 2020 04:34pm
2020 GDP growth forecast by Fitch Ratings for Pakistan is 1.9%.
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