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    6% growth not seen possible

    6% growth not seen possible

    Bureau Report


    ISLAMABAD, Feb 2: The government is unlikely to achieve 6% GDP growth in year 2000-2001
    following decline in the industrial sector during December, 2000.

    Industrial sector registered a growth rate of 7.7 per cent in the first five months -July to November-
    but in December it slowed down to 1.1 per cent.

    Meanwhile, flow of foreign direct investment, which had remained sluggish in the first five months,
    continued to stagnate.

    The industrial growth had picked up at a good pace from 3.8 per cent in July to 9 per cent in August,
    8.9 per cent in September, 9 per cent in October and 9.3 per cent in November but later it slowed
    down.

    The situation on the investment front was disturbing as the fixed direct investment remained 13.5 per
    cent of the GDP in December as against 15 per cent in the same period in 1999.

    Generally, it was expected that the settlement with Hubco will pave the way for the resumption of
    foreign investment in the country but sharp decline in investment in December had worried concerned
    people. The issue was being raised with the World Bank and its subsidiary, the International Finance
    Corporation (IFC) to find out the causes of reluctance of foreign investors to come to Pakistan.

    Officials say that IFC, the World Bank's private sector borrowing window was being requested to
    provide new loans so that some activity could take place. IFC has been all praise of the Pakistani
    private sector for its unblemished repayment record.

    =============================================
    Link: http://www.dawn.com/2001/02/03/top5.htm

    My question is the IMF stupid??
    A country which had a growth rate of 2.8% before, how can it achgieve a 6% growth rate the next year.
    Though we have complied with 95% of the requirements, this will not be possible for a couple of years.
    But we are on the right track.

    ------------------
    CROIRE A L'INCROYABLE
    You can't fix stupid. So might as well troll them!
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