GDP growth to be around 4.8% in FY22 Says Asad Umar

By Muhammad JuniadPublished On 04 Jan 2023

Federal Minister for Planning and Development Asad Umar said Friday Pakistan's gross domestic product (GDP) growth was expected at 4.8% in the financial year 2021-2022.

Highlighting the achievements of the government during a press conference in Islamabad, Umar said in the nine months of the current fiscal year, IT exports showed growth of 46%.

Umar said the country had "witnessed a strong growth" during the fiscal year, and it is expected that the remittances would shoot up from $21.7 to $29.1 till the year end an increase of 34% in a year.

The federal minister said if we combine the 3.94% GDP growth and the increase in remittances, it will take the gross national product (GNP) growth to 6.5% — the "highest" GNP growth in the last 16 years.

Umar said remittances played an important role in helping the country's economy grow, and it is important that we should give overseas Pakistanis the right to vote.