ISLAMABAD: Minister for Finance Shaukat Tarin said on Sunday at the current pace of economic growth, the country could expect five percent growth in fiscal year 2022 and more than six percent in 2023, saying “price stability” was the top priority of Prime Minister Imran Khan.
Train was addressing a news conference in Islamabad to give details of a number of new initiatives and measures that are part of his economic policy.
"What is in that whole strategy? The first thing is price stability,” Tarin told reporters, saying the government's focus would now be on providing people much-needed relief by bringing prices down. "It is Imran Khan's promise to the people that prices will be brought down."
In late March, PM Khan removed then finance minister Abdul Hafeez Shaikh as part of a government shake-up aimed at bringing in policies to control “rising inflation.”
"We have to pursue inclusive and sustainable [economic] growth,” Train said. “There should be similar growth for everyone including the rich, the poor and the middle class."
On Friday, Pakistan’s planning ministry estimated provisional GDP growth for the 2020-21 financial year at 3.94 percent, almost double the forecasts from the International Monetary Fund (IMF).
Train said the 3.94 percent figure provided "hope that if we move forward towards growth then maybe the next year, we might have 5pc growth and more than 6pc the next year after that."
The finance minister also spoke about Pakistan's status with regards the Financial Action Task Force (FATF), which in 2018 placed Pakistan on a grey list for inadequate terror funding controls. Pakistan needs to fulfill 27 action points to be removed from the list.
Tarin said only one condition remained to be fulfilled now.