ISLAMABAD: Asian Development Bank (ADB) President Takehiko Nakao has warned the current political gridlock in the country could damage Pakistan’s newly-stabled economy.
Nakao, talking to media persons, praised the government for improving the macro-economic outlook and pursuing a liberalisation agenda.
Lauding the government achievements, he said that Pakistan’s growth rate was picking up, the inflation rate was becoming more managed, and foreign reserve was becoming stabilised so it is really a remarkable achievement by the government.
“What is important is the…continuation of democracy. I am so glad to see the peaceful and democratic transition of government last year,” he continued.
Meanwhile, Finance Minister Ishaq Dar said the government would miss its growth target due to recent floods
Dar said the damage would affect Pakistan’s growth target of five per cent for the fiscal. “It will have a bearing on our GDP, we have a major agricultural loss in Punjab. We have budgeted for and projected (growth) at five per cent,” he said.
