Pakistan’s GDP Growth is Projected at 3.94%
On May 28, 2021, the Deputy Chairman of the Planning Commission presided over the Annual Plan Coordination Committee (APCC) meeting. Representatives from the SBP, federal ministries, and provincial governments all attended the conference.
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According to the deputy chairman, the APCC is the main obstacle in the adoption of the development budget. Although there are both official and informal development dialogues, both the performance of the previous year and development plans are jointly reviewed by the federal government, the provinces, and the regions.
The Deputy Chairman outlined significant economic developments from the last year and stated that Pakistan’s GDP is projected to rise by 3.94% in 2020–21, up from a decline of 0.47% in 2019–20.
All three major sectors—agriculture, industry, and services—grew by 2.8%, 3.6%, and 4.4%, respectively—contributing equally to the V-shaped recovery. This suggests that Pakistan controlled Covid shock well and achieved a balance between life and livelihood.
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Additionally, Chief Minister Gilgit Baltistan emphasized the government’s social commitment to Gilgit Baltistan’s uplift and thanked Minister Planning and the Planning Commission for achieving the Prime Minister’s vision through the previously unheard-of distribution of development plans.
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