Pakistan to achieve 2.5% economic growth this year

The Pakistani government is expected to achieve an economic growth rate of 2.5 percent in this fiscal year, the news agency reported Wednesday, quoting a Pakistani official.

Most of the countries in the world are experiencing negative growth rates, Advisor to Prime Minister on Finance Shaukat Tareen was quoted as saying.

Tareen said Pakistan's balance of payments has improved as there is significant decline in the imports and that foreign exchange reserves are on rise.

Pakistan, facing severe economic difficulties with falling foreign exchange reserves and high inflation, has been seeking financial help from friendly countries and financial institutions.

Pakistan is expected to get second batch of 840 million U.S. dollars loan from the International Monetary Fund (IMF) by the end of March, Tareen said earlier this month.

The IMF agreed to provide 7.6 billion U.S. dollars to Pakistan under a 23-month loan program to meet the country's balance of payment crisis in November.