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Pakistan economy

Pakistan’s economic situation to remain frail until 2 years: World Bank

ISLAMABAD: The World Bank has indicated that the economic scenario in Pakistan is to remain shaky till next two years. Pakistan is stuck in a situation where its economy is experiencing a downward trajectory while its outlay is very high, said the report published by the bank. Anticipating a period of two stumbling years for the economy of Pakistan, the report highlighted two factors: rise in poverty and the weak economic development. The report further said Pakistan would face the challenges of alleviating poverty…

A test for stakeholders to make Gwadar a victorious economic city

ISLAMABAD: Gwadar, a vital division of massive China Pakistan Economic Corridor (CPEC) project, is a test for the stakeholders to develop it as a successful economic city for the associating countries. Naveed Iftikhar, an expert consultant in Ministry of Finance addressed a seminar on “The international and urban design of Gwadar city” in which he presented his findings in a detailed research on Gwadar a key component of CPEC. According to his findings, the stakeholders do not simply set up Gwadar as a port, but has…

IPR report underlines measures for sustainable Pakistan economy

In view of booming fourth phase of generation revolution in the arena of industrial development, Pakistani think tank 'Institute for Policy Reforms' (IPR) issued a comprehensive report for the amelioration of economic situation in Pakistan. According to the report, for a sustainable economy, Pakistan should increase the quantity of high-value products in its exports. The report of IPR suggests the need to focus more on Science and Technology as the textile industry has a major share in exports of Pakistan which is 80%…

Finance Minister launches economic survey, economy grows by 5.28 pct

ISLAMABAD: Finance Minister Ishaq Dar while launching the Economic Survey for the outgoing financial year said that the national economy has achieved high growth rate of 5.28 percent, ARY News reported on Thursday. The government in the fiscal year 2016-17 federal budget had set a target of 5.7 percent but failed to achieve it. Highlighting salient features of the Economic Survey Ishaq Dar talked about the performance of different sectors of the national economy in the outgoing year. The Finance Minister providing…

PWC forecasts Pakistan economy to surpass Canada by 2050

The emerging economy of Pakistan could surpass the Canadian economy by 2050, according to an economic forecast by management consultancy PricewaterhouseCoopers (PWC). A report of the PWC says, “By 2050, emerging economies Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and Canada,”. The findings — based on gross domestic product purchasing power parity (PPP) terms — also forecasts China and India will overtake the United States as the world’s first and…

World Bank revises Pakistan’s growth rate upward

NEW YORK: World Bank has revised Pakistan's growth rate upward to 5.2 percent for fiscal year 2017 and 5.5 percent for 2018. The bank previously estimated growth in Gross Domestic Product (GDP) of Pakistan 5 percent and 5.4 percent respectively. The report "Global Economic Prospects; weak investment in uncertain times", released on Tuesday, states that the uptake in activity was spurred by a combination of low commodity prices, rising infrastructure spending, and reforms that lifted domestic demand and improved the…