Impression about shrinking economy baseless

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Islamabad

The impression created in a section of media that the Pakistan economy is shrinking, is totally baseless, said Finance Division statement issued here on Friday.
The Finance Division has asserted that the macroeconomic adjustment policies introduced by the government to support balance of payment and strengthen the market confidence, which will also move toward higher and inclusive growth. The contention of a section of the media talking about “shrinking economy” seems incorrect as the early signs of recovery of economic activities in fiscal year 2020 are very much encouraging.
On agriculture front, Federal government is implementing “National Agriculture Emergency Programme” and has approved 08 mega projects at the cost of Rs. 235 billion. This will encourage economic activities in rural areas and create employment opportunities in the country.
Credit to agriculture sector has increased by 20.7 percent; the sowing of cotton crop has also increased by 14.4 percent as compared to last year which will increase cotton crop in double digit. The import of agriculture machinery has recorded a growth of 8.7 during FY2019 which is a good indicator.—INP