PAKISTAN SAYS GOOD ECONOMIC GROWTH CONTINUES
  Pakistan says its economy has continued
  its recent outstanding performance during the financial year
  1986/87 ending on June 30 but areas like balance of payments,
  investments and energy were causing concern.
      GDP grew in line with the average growth rate since 1980
  and the inflation rate was the lowest since 1969/70, according
  to a government economic survey.
       The reform of economic regulation had gathered momentum
  and there was an impressive performance in a five point
  government program for rural uplift, education and poverty
  alleviation, said the survey.
      Ministry Economic Adviser Qazi Alimullah told a news
  conference that before recent unseasonal rains and hailstorms
  damaged the wheat crop, GDP growth was calculated at 7.04 pct
  compared to 7.25 pct in 1985/86.He said the figure might now
  slide down a little to around 6.8 or 6.9 pct.
      The survey said monetary expansion was estimated to be nine
  pct to date but might rise to around 12 pct by the year-end.
      Alimullah said exports rose 18 pct to 3.5 billion dlrs from
  2.9 billion dlrs in 1985/86. But the at the same time, home
  remittances by Pakistanis abroad dropped to 2.3 billion dlrs
  from the 1985/86 level of 2.595 billion.
      More exports and an improvement in the balance of payments
  situation will be required to overcome this declining trend in
  home remittances, he said.
      The survey said the trade deficit was expected to fall to
  2.4 billion dlrs from three billion dlrs in 1985/86 because of
  the boost in exports.
      He said national investment continued to be small because
  of a poor rate of savings, about 14 pct of GDP. He said more
  savings were required to maintain or possibly step up the
  present growth rate and to finance the country's seventh
  five-year development plan to be launched in July 1988.