Country needs 7pc economic growth to reduce debt: Anjum

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Our Correspondent
Karachi

Chairman Businessmen Panel of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum appreciating the positive growth in large-scale manufacturing (LSM) in first nine months of current fiscal year, emphasized the need for reforms agenda to achieve seven per cent economic growth rate annually to create two million jobs per annum and reduce the public debt, which has already become unsustainable.

In a statement on Saturday, he said that the low GDP growth in Pakistan may result in pushing 20 million people below the poverty line as with such a growth rate job opportunities are not creating.

He added that Pakistan’s economy needs up to seven percent growth rate to avoid falling of more people below the poverty line.

Mian Anjum Nisar observed that the government had expected 2.5% contraction in the LSM sector in the current fiscal year.