Pakistan was fourth biggest economy of Asia in 60s: Shaukat Tarin

ISLAMABAD (92 News) – Finance Minister Shaukat Tarin said that Pakistan was the fourth biggest economy of Asia in the 60s.

Addressing a ceremony on Thursday, he said that economy of Pakistan was bigger than South Korea and Thailand. “It is was our planning that led the country to the fourth place. Nationalisation and the Afghan war damaged our economy in 1972-73. After that, the governments did not pay any attention towards economy,” he added.

The minister said that afterwards Pakistan could not get a place in top 20 economies. “The PTI government had to face challenges of the current account defecit, Afghanistan situation and global inflation. The government took steps to strengthen the economy,” he maintained.

Shaukat Tarin said that the growth rate had increased to more than five percent during the PTI government. “We are thankful to overseas Pakistanis who send remittances. The intention of increasing the interest rate was to improve economy,” he concluded.