Govt. optimistic on growth for FY12; GDP projected at 3.6% – Alfalah Securities Limited

Karachi: Finance Advisor Dr Abdul Hafeez Sheikh informed Prime Minister Gilani that projected GDP growth for FY12 is 3.6% which is than the target as the damage to the crops in Sindh by the floods was lower than the estimates.

According to Alfalah Securities Limited, the inflation is likely to be less than the budgetary projection of 12% and the revenue collection target of PKR 1,952 billion target for FY12 is also likely to be met. However, Alfalah Securities Limited believes that the betterment in economic figures would be short-lived since the rising pressures on the external side and repayment of debt would erode improvement in fiscal side.