Finance Minister, Senator Muhammad Ishaq Dar, Tuesday announced that auction of Next Generation Mobile Services (NGMS) spectrum (3G) would be held on June 20, and urged the investors to take benefit from this opportunity for their better interests. The minister stated this while addressing at a function to commemorate the "World Telecommunication and Information Society Day 2016". He assured the telecom operators that the government is committed to resolve their problems. The minister said that all the economic indicators have been performing well.
He projected GDP growth rate to reach 7 percent in next two years after overcoming security challenges and energy crisis. "The country has potential to grow at 7 percent by 2018 if it overcomes security challenges and energy problems", said the finance minister. The main challenges when this government came were three Es, Economy, Energy and Extremism. We have passed a lot of mileage on these fronts. The country is working on 25,000MW power projects. Dar said that 10,000MW electricity would be added in the system by 2018 which would help in reducing the power shortage for the industrial sector and it will add 1.5 percent to GDP growth.
"Pakistan is set to take off and it's now just matter of time," he said adding that credible world institutions have termed Pakistan second choicest place for investment and predicted the country to be 18th biggest economies of the world by 2050. However, a lot more still needs to be done; he said adding that with efforts the dream of becoming 18th biggest economy could be materialised by even 2030.
He said that Business Confidence Index for Pakistan has changed from minus-34 to + 36 while by taking steps to ensure intellectual property rights the confidence of investors in Pakistan has also gone up. Minister for Information Technology and Telecom, Anusha Rehman said that IT sector has potential to contribute 1.5 percent in the GDP.
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