Prime Minister House’s Spokesman rejects Pakistan Economy Watch Report

Islamabad, July 02, 2012 (PPI-OT): The Spokesman of the Prime Minister’s House has categorically rejected the assertions contained in a report of Pakistan Economy Watch (PEW), which was published in a section of press.

The Spokesman referred to performance of Karachi Stock Exchange on July 2 wherein 100 index of KSE touch all-time high in six weeks after an increase of 341 points. The investors, he said, felt especially attracted to fertilizers and cement stocks due to maintenance of Rs.197 per MMBTU. Total trade volume was recorded at 11 corers and 62 lacs shares.

The Spokesman said that FY-2011-12 posted an economic growth of 3.7%, presenting an improvement in last three years, reduction in inflation from 25% in 2008 to 13% last year to 11% by the end of financial year.

The Spokesman also mentioned steady growth in remittances which hit $13 billion, which speaks volumes about the confidence of the expatriate community in the government and its economic management. He said that annual tax revenues also registered an increase of Rs. 450, which was an increase of 23% than the tax target set for FY-2011-12.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com