NEW YORK, (APP): Prime Minister Shahid Khaqan Abbasi has said that while Pakistan’s economic growth rate is still set to hit a targeted six percent in the financial year through June, corruption investigations and religious protests in the capital are deterring investors.
“There is uncertainty in the country ever since these affairs have surfaced, Abbasi, who holds the finance portfolio, said in an interview with Bloomberg News, a New York-based international financial news service, referring to the situation arising from last year’s Panama paper release.
The interview took place in Islamabad on Nov. 24 but was published Friday.
It definitely impacts growth, the economy and investor confidence, Abbasi said, adding he would continue to be Pakistan’s finance minister through the government’s current term that ends on June 4.
Prime Minister Abbasi reiterated that Pakistan, which has received 12 IMF loans since 1988, didn’t need a bailout.
This deficit is temporary as you are in expansion phase where machinery and other things are increasingly being imported, he said. This deficit would go away when the growth comes, he added.