No artificial growth rate hike as past rulers did: Habib


Minister of State for Information and Broadcasting Farrukh Habib has said that the country was at the brink of default due to the past governments’ corruption and money laundering through fake accounts.
Farrukh Habib in a statement on Friday said that the previous government of Pakistan Muslim League-Nawaz (PML-N) borrowed money to artificially increase the growth rate(s). “The foreign exchange reserves were half when we came into the government,” he said, adding the PTI government has not increased growth rate artificially.
Highlighting the results of the government’s economic reforms, he said that it was a manifestation of the successful policies of the present government that led to the 5.37 percent growth rate of the Gross Domestic Product (GDP) in the last three years.
“There has been a significant decrease in the circular debts due to our effective measures on the economic front, ‘’ he said while drawing a comparison of the present government with the tenure of the past government,” Farrukh Habib maintained.
He said that the coronavirus pandemic had an adverse impact on economies of the developing countries, but it was the PTI government whose economic reforms were being acknowledged at the international level.
He said during the last year, agricultural, industrial and services sectors showed growth of 3.48, 7.79 and 5.70 percent, respectively. The GDP at market prices increased to Rs55.5 trillion in 2021 with rebasing and level shifting of the economy, he said, adding the gross national income increased to Rs59.3 trillion, while the per capita income surged to $1,666.