KARACHI: In a rather bizarre claim made by the Finance Minister Shaukat Tarin here on Friday, he has stated that a higher GDP growth rate will hurt the economy. He was speaking at the annual dinner of CFA Society Pakistan.
Tarin explained that the International Monetary Fund (IMF) wanted the country’s GDP growth rate to stay between 5-5.5 per cent for the year 2021-22. He said that he would not want the country’s GDP to grow at 6pc for now.
“That will damage our economy,” Tarin was quoted as saying.
The finance minister has said that the IMF programme would not delay the targeted growth rate. Tarin said that Pakistan was not very far from achieving from what the IMF wants it to achieve.
Speaking of some of the actions that the IMF wants the Pakistani government to take, he said that the body wanted the government to do away with tax exemptions and introduce reforms for higher revenue generation.
“They [IMF] want us to grow, but just not in an unhealthy manner,” said the finance minister.
Pakistan’s economy has been under stress, which has resulted in an unprecedented inflation. Saudi Arabia has also recently announced a $3 billion support package for the country to help it evade the economic crisis.
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