Pakistan pursuing prudent economic policies: Gilani
A number of targets in the economic sector have been achieved during the first six months of the current fiscal due to the prudent policies of the present government, said Prime Minister Yousuf Raza Gilani.world Updated: Jan 20, 2012 12:04 IST
A number of targets in the economic sector have been achieved during the first six months of the current fiscal due to the prudent policies of the present government, said Prime Minister Yousuf Raza Gilani.
In a policy statement in the National Assembly on the economic situation of country, Gilani said Thursday that despite facing challenges of floods, rains and deteriorating law and order situation and world economic recession, economic indicators of Pakistan improved and inflation was reduced to single digit.
Gilani said political stability was a must to ensure economic stability, reported Associated Press of Pakistan.
He said the government controlled borrowing during the first six months of this fiscal year that helped to reduce the inflation to single digit (9.7) first time in history of the country.
The prime minister said that fiscal deficit had come down from 9.4% to 7.6% and inflation that had reached 25% had been reduced to 9.7% during December 2011.
Gilani said the government provided a number of incentives to farmers that improved the food supply situation in the country.
He said the GDP growth rate will be 4% basically due to the enhanced agricultural production.
He added that the tax net has been widened.
Highlighting the achievements in tax collection, the prime minister said tax collection during July-December 2011 was Rs.841 billion, 27% more.
He said that they were confident of achieving the tax revenue target of Rs.1,952 billion during the current fiscal year.