ISLAMABAD, Mar 17 (APP): Minister for Finance and Revenue Shaukat Tarin on Wednesday said that structural imbalances, lessen agricultural productivity have crippled the economic development.
Addressing the ‘1st Pakistan Petrochemical Symposium’, organized by Corporate Pakistan Group in collaboration with Board of Investment (BOI), Tarin said that these structural flaws and imbalances slowed down the economic growth rate from last many years.
While giving the historic prospect of national economy, he said that local economy was on rapid path of development in era of 1960 and Pakistan was ranked as 4th largest economy, bigger then South Korea, second to China and Japan.
However, the massive nationalization and huge inflow of refuges during Afghan war were among some other factors, which negatively influenced the economic growth, he said adding that war against terror also incurred huge damages to economic growth and development in terms of financial and human losses.
