Home Business Pakistan revises up 2020-21 financial development charge at 5.37%

Pakistan revises up 2020-21 financial development charge at 5.37%

by News Updater

ISLAMABAD – Pakistan has revised up its financial development charge for the earlier fiscal 12 months 2020-21 to five.37 p.c from 3.9pc, Planning and Growth Minister Asad Umar introduced on Thursday.

In a tweet, Umar stated that the Nationwide Accounts Committee (NAC) had accepted the revised estimate of gross home product (GDP) development for the earlier monetary 12 months.

“The growth in 2020-21 was 5.37%. This is the 2nd highest growth in the last 14 years. Higher growth versus provisional estimates which were based on jul-mar numbers, was mainly due to very strong industrial growth in apr-jun,” the minister wrote.

The federal government has revised the GDP charge for 2020-21 for the second as initially, it set it as 2.3% within the 2020 annual price range and later revised it as much as 3.9%.

The planning ministry in an announcement stated that NAC reviewed and accepted the rebased sequence from 2015-16 to 2020-21 on the costs of 2015-16.

“Due to improved coverage & better estimation of input-output structure of industries, the gross value addition has increased by Rs.3.1 Trillion in the base year 2015-16 from Rs.27.4 trillion to Rs. 30.5Trillion,” it added.

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