Pakistan spends only 2.1pc of GDP on infrastructure: SBP governor
KARACHI: State Bank of Pakistan (SBP) governor Jameel Ahmed Khan said Islamabad spends only 2.1pc of its total Gross Domestic Product (GDP) on the ins fracture of the country, ARY News reported.
He was addressing Infrastructure Summit in Karachi on Tuesday.
The SBP governor said after the outbreak of coronavirus, the need for spending on infrastructure across the globe has increased, and added as much as $80 billion is needed for the provision of basic facilities to the people in the world.
“The world needs $920 billion yearly for infrastructure projects.” Jameel Khan noted that Pakistan is facing a shortage of investment in infrastructure projects.
Pakistan needs heavy investments in energy, communication, transport and other sectors, he added.
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Commenting on the last year’s destruction caused by the floods, SBP governor Jameel Ahmed Khan said Pakistan needs funds of $16 billion to overcome the impact of the disaster.
He regretted that Pakistan only spent 2.1pc of its total GDP on infrastructure projects. , which is the lowest in the world. Mr. Khan said Pakistan needs a lot of investments but the resources are limited.