Finance ministry launches ’75 Years Economic Journey of Pakistan’

The Ministry of Finance and Revenue on Saturday released a report titled “75 Years Economic Journey of Pakistan” in order to present the details of economic advancement of the country since emerging on the global map.

The report also aiming at to highlight the major events occurred since independence, which significantly shaped the economic contours of the country. In his message, Minister for Finance and Revenue Miftah Ismail said that the dearth of resources to meet the local needs after independence was not a secret as India refused to give due share of its wealth to Pakistan soon after its birth. The severely disrupted country’s economic system along with settlement of the refugees were major challenges faced by the newly born country, he said adding that however Pakistan’s economy quickly revitalized with the hard work and determination of its people.

He said that a country with 30m population in 1947 could not feed its population and had to import most of its food requirements from abroad, adding that today, local agriculture production has risen significantly and Pakistan was producing over 26.4m metric tons of wheat annually as compared the total output of 3.4m tonnes in 1948, besides cotton attaining a level of more than 8.3m bales in 2022 compared to 1.2m bales in 1948. The sugarcane production, he said has reached to 88.7m tonnes in 2022 as compared to 5.5m tonnes in 1948 and rice output was recorded at 9.3m tonnes during 2022 as against the total…

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