ISLAMABAD: During the 24th Sustainable Development Conference by Sustainable Development Policy Institute (SDPI) on Thursday, the Finance Adviser Shaukat Tarin discussed the economic condition of the country, stating when basic commodities’ prices will decrease in the international market, it will also benefit Pakistan.
“We should not worry too much as conditions will improve eventually,” he said.
According to the adviser, the country has experienced a four per cent growth in the economy after coronavirus and is heading towards sustainable growth.
The high current account deficit is due to the difference between imports and exports, 25pc of the gross domestic product relies on imports while 10pc on exports.
The agriculture sector and industries have to be promoted to expand exports. He further added that duty was decreased on raw materials, and actions for boosting exports and expanding production on the domestic level were being taken by the government.
He also explained that during the tenure of the previous governments, excess power was generated, the cost of which was being borne by the consumer. He added that reforms would be introduced in the power sector to improve the situation.