ISLAMABAD: Prime Minister Imran Khan on Tuesday said Pakistan’s macroeconomic indicators were stable and expressed the confidence that economy would grow at a higher rate by the end of this fiscal year compared to the previous year.

The prime minister, who was chairing a meeting of the Macro Economic Advisory Group, said the increase in large-scale manufacturing and value-addition of goods, revenues and exports showed that the policy measures taken by the government had started bearing fruit.

The meeting was apprised about the current economic situation of the country, improving macroeconomic indicators and a comprehensive strategy to further strengthen the economy, helping to sustain the growth rate despite a rise in global commodity prices. The meeting was informed that when the global economies were battered by the adverse effects of the pandemic, Pakistan not only did well to contain the situation but also sustained the economic growth rate of 3.9 per cent.

Still, Pakistan was experiencing a higher growth rate and the current fiscal year was expected to close with an increase of more than one percentage point compared to the previous fiscal year’s figure.

The meeting was also informed about the stable forex reserves, sustainable structural reforms in the power sector that had led to a contraction in circular debt, 35pc growth in revenue with 32pc growth in tax collection alone, and an increase in exports including value-added goods and large-scale manufacturing.

Published in Dawn, December 8th, 2021