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Finance Minister chairs meeting to review economic performance in first six months of FY

Islamabad, January 02, 2017 (PPI-OT):Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here today to review the economic performance in the six months ended 31st December 2016. Finance Minister noted that GDP growth appears to be on upward trajectory and inflation was steady below 4% in December 2016 while average inflation during July-December 2016 was recorded at 3.88%, reflecting continued price stability.

Finance Minister noted FBR’s performance at around 7% for the six month period ended in December 2016, reflecting catching up of the shortfall experienced in the initial months, largely on account of giving relief to consumers on petroleum prices together with sales tax refunds of Rs. 45 billions. On the expenditure side, the performance was on track as expenditure was allowed in a prudent manner in accordance with budget, and keeping in view the revenue growth.

The Finance Minister, while expressing satisfaction on recent economic performance, noted that economic activities are picking up, investments are taking place, particularly in CPEC-related projects which would further accelerate after the recent understanding with Chinese authorities to further expand the scope of CPEC by including water security, Karachi Circular Railway, mass transit program for Baluchistan, projects for Khyber Pakhtunkhwa, and rehabilitation of Railways related project.

He further remarked that going forward, Pakistan would experience rising growth and creation of more job opportunities. The meeting was attended by the Finance Secretary and senior officials of the Ministry of Finance.

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