ISLAMABAD: Shaukat Tarin, Federal Minister for Finance and Revenue, on Saturday said Pakistan was now adopting a bottom-up approach to ensure growth as the trickle-down (top-down) policy never yielded results in the last 72 years1.

InfraZamin is a first-of-its-kind facility providing local currency guarantee solutions for infrastructure finance.

Tarin said Pakistan’s debt market was improving in terms of depth, breadth, and liquidity. “Pakistan’s GDP growth rate for current financial year, closing on June 30, will be 4 percent. The growth is coming from real estate, agriculture exports and the housing sector, which were the focus areas of Prime Minister Imran Khan.” The finance minister said Pakistan needed to grow its economy further, because it had a huge youth bench to give at least 1.5 to 2 million jobs every year.

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• 1. “The government will use commercial banks to retail credit to microfinance institutions like Akhuwat and microfinance institutions to provide low rate loans to 5 to 6 million households to start their own business and these small businesses will lead the growth engine,” said Tarin virtually addressing the launch of InfraZamin Pakistan Limited.