PBS sources said that the initial data received from multiple sources suggested that the GDP growth for the outgoing fiscal year could be around 5.5%. The planning secretary has held multiple meetings in recent days on the GDP growth prospects, with the latest one held on Monday. Sources said that one group wanted the PBS to show the agriculture sector growth at less than 4%, industrial sector expansion below 6% and services sector growth at around 4.5%. The higher-than-targeted growth in the LSM and agriculture sectors as well as imports has provided a cushion of about 1.3% to the overall GDP growth rate, they added. If the government implements import compression measures, the GDP growth in the next fiscal year could be less than this year’s expected growth of over 5.5%.

Source: The Express Tribune May 17, 2022 07:35 UTC