GDP rate predicted to remain at 7 percent for next two years

KARACHI: According to Secretary Finance Waqar Masood, the rate of the Gross Domestic Product (GDP) of Pakistan for the next two years is predicted to remain at 7 percent.

While giving an interview to a foreign news agency, Masood stated that the China-Pakistan Economic Corridor (CPEC) is the underlying factor behind the supposed fix rate of the GDP in the coming two years.

He further added that the government intends to sell remainder of its shares in the United Bank Limited (UBL) and Habib Bank which will increase the reserves of the State Bank of Pakistan (SBP) to 16 billion dollars.

Masood said that the conditions imposed by the International Monetary Fund (IMF) in order to obtain loan are harsh but the government plans not to take more debts in the future. He also did not foresee any difficulties related to the privatization of the Pakistan International Airlines (PIA). NNI

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