By Our Correspondent
ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has released the National Economic Survey.
The Finance Minister said that we are moving towards economic stability, the GDP growth in the current fiscal year was 2.7 percent, Pakistan’s inflation is 4.6 percent.
He said that last year the policy rate was 22 percent, which has now come down from 22 percent to 11 percent.
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Senator Muhammad Aurangzeb said that the IMF program has restored our confidence, Prime Minister Shahbaz Sharif has obtained the SBA program, and the caretaker Finance Minister is commendable for keeping this program on track.
The Finance Minister said that reforms were necessary to change the DNA of the economy, the tax-to-GDP ratio is at a five-year high, the government has made reforms to improve the performance of the FBR.
He said that every transformation requires two to three years, a historic recovery has been achieved in power sector reforms in one year, and the governance of electricity distribution companies has improved.
