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Economic stagnation has arrived, it will now move towards development: Asad Omar

ISLAMABAD: Federal Minister for Planning, Asad Omar has said in September 2018 that it will take two years to stabilize, economic stability has come, now it will move towards development.
Giving briefs to senior journalists, Federal Minister for Planning Asad Omar said that inflation and difficult conditions were foreseen, saying in September 2018 it would take 2 years to stabilize, now it is moving towards stability, of daily use items. Inflation has begun to decline, they do not claim to control inflation but succeed in reducing it, inflation fell 5% in a few weeks, inflation will be in single-digit next year, economic stability has come. , Will now move towards development.

He added that remittances increased 13% over the last 3 months, overseas Pakistanis sent $ 700 million foreign exchange in 3 months while Pakistan’s exports increased by 4%, exports to India and Bangladesh during that period. On the negative, there is a very positive progress in restructuring the industrial sector, industrial output in the country increased by 9 to 35 percent.
Assad Omar said that critics will tell which plan of C-pack is pending, this year three special economic zones of C-pack will be established. The opening will be the same year, 4 more economic zones have also been approved.

He further said that in the past foreign investors were reluctant to come to Pakistan. Now Pakistan is becoming a center of interest for investors. The construction work of Islamabad Metro will be completed this month, for the supply of water to Islamabad. Ghazi Brotha and Khanpur Dam have approved the pipeline project, which will provide Islamabad 12.5 gallons extra water, these projects will be completed in a few months.

Federal Minister Asad Omar said that the government will try to be the last IMF package, the biggest obstacle in the way of bureaucracy is the small and medium-sized industry. Corrupting the Pakistani economy is not a threat to the virus that other countries face.

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