Pakistan on radar of world investors, says Indian media
Viewing economic progress of Pakistan, Indian media could not help but speak about it. Local Indian media said Pakistan is on the radar of world investors.
“Six Pakistani companies are set to become part of world market index by March 17. With a return of 50 percent, Pakistan Stock Exchange benchmark index is the best performer in Asia the following year,” said the media.
The Indian media also quoted analysis of international entities. The World Bank has forecast the Pakistan’s economy to grow 5.2 percent this year and 5.5 percent next year. While, Bloomberg, business news agency, has ranked Karachi Stock Exchange (now Pakistan Stock Exchange) 3rd among 10 Best Performing Markets in the world in 2014, the media reported.
India Times said emergence of middle-class in Pakistan is linked with $50 billion China Pakistan Economic Corridor (CPEC) project.
Read More: Pakistan’s resurgence on the economic front
“Last 30 years Pakistan has suffered due to violence and terrorism that cost its economy $20 billion,” said former president of the Pakistan-India CEOs Business Forum Amin Hashwani.
“Today, a comparatively better security environment, heavy investment related to CPEC, increased domestic investment and enhanced overseas remittances have triggered growth,” he said.
A consumer research entity, Euromonitor International Consumer said spending in Pakistan has increased by 83% in the past five years compared with 49% in the Asia-Pacific region.
Euromonitor’s forecasts show Pakistan’s disposable income has more than doubled in six years.
The Hindu, Indian newspaper, said literacy rate in Pakistan has increased by 60 percent with a significant rise in girls’ education.