Govt has initiated mega energy projects under CPEC: Finance Minister

Latest Update: March 27, 2016 | 179 Views

Finance Minister Ishaq Dar says the government is embarking on a robust economic agenda to enhance GDP growth to seven percent per annum.

Addressing a seminar in Islamabad on Sunday, he said the government has initiated mega energy projects under China-Pakistan Economic Corridor (CPEC).

He said Chinese companies are investing about thirty-six billion dollars in different energy generation projects, which will bridge the supply-demand gap and produce surplus power to meet future energy needs.

Highlighting government’s achievements in economic sector, the Minister said the budget deficit has come down from 8.2 percent to 4.3 percent, and the increase in GDP growth rate of 4.4 percent is higher during the last seven years.

He inflation has decreased from twelve percent to two percent. Revenue collection increased by eighteen percent during the last eight months of current fiscal year.

Meanwhile, Finance Minister has directed Economic Affairs division for repayment of five hundred million Euro Bonds to investors by 31st of this month.

Euro Bonds were sold in international market at the seven percent mark up rate.


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