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Economic growth can help reduce poverty

ISLAMABAD: Eminent Economist Dr Ashfaq Hasan terms economic growth and control of price inflation efficient help to mitigate the poverty and allied issues.
Economic growth can help reduce povertyTalking to a private TV channel, Ashfaq Hasan said that poverty and growth are interlinked. Poverty can never be completely eliminated as it is a relative term. In foreign countries 6% to 7% ratio of poverty remains despite their utmost efforts to eliminate it, he said.
Replying to a question he said the total ratio of poverty in Pakistan is 22.3 per cent and it has been reduced from 34.5% since 2000 to 2010. In 2008 inflation increased from 5 to 6 per cent, he told.
Expert said only economic growth can ensure smooth running of state business and can create job opportunities and increase in the income.
Replying to another question he said Pakistan was about to reach 15 % of economic growth rate but in 2008 it was reduced to 17% due to various reasons and now its difficult that we could reach the target.
“BISP and other programmes only provide help and relief to the poor peoples according to their situation but they can never create jobs for them and be the source of income for the peoples, he added.
He suggested that poverty can be reduced only by economic progress and the role of private sector in this regard also worth mentioning.
The responsibility of the govt is to evolve policy and not to provide jobs to the citizen. The private sector is there to arrange the job opportunities for the citizens, he maintained. – APP
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