Economy projected to grow by 4.2%

[ameer219]

Economy projected to grow by four point two percent’

ISLAMABAD: During question hour‚ the National Assembly was informed on Friday that economy is projected to grow by four point two percent during the current fiscal year.

Minister for Textiles Makhdoom Shahabuddin on behalf of Minister for Finance informed the House that agriculture sector is expected to grow by three point four percent‚ manufacturing three point seven percent and services by five percent.

He said a number of measures have been taken to bring inflation down from double to single digit. Responding to another question‚ Makhdoom Shahabuddin said forty-seven bilateral investment agreements have been signed with different countries.

The House has now adjourned to meet again on Monday afternoon.


‘Economy projected to grow by four point two percent’

 

[Karachiite]

Not good news but given the current tense times Pakistan is going through, it's not that bad of a growth.

 

[JAT BALWAN]

Not good news but given the current tense times Pakistan is going through, it's not that bad of a growth.

not only Pakistan but whole world`s economic growth is going downward @ present...

 

[Omar1984]

not only Pakistan but whole world`s economic growth is going downward @ present...

If corrupt politicians all left the country, the rich started paying taxes, and we got out of war OF terror then Pakistan would be growing by atleast 9%. Pakistan has great potential.

 

[ares]

This third year in a row, Pakistan has predicted that it will grow upwards of 4%, but for last couple of years it keeps falling couple of percent short.

 

[ziaulislam]

If corrupt politicians all left the country, the rich started paying taxes, and we got out of war OF terror then Pakistan would be growing by atleast 9%. Pakistan has great potential.

well if corrupt people leave country may grow at 20 % though thats not possible.
with general good policies and good security we can easily achieve 9-10 percent due to our resources as we do during military regimes like mush time.
point is their is toooo much corruption and too much stupid econmical policies.
we have to follow policies of china,america and india encouraging foreign investment and making the public money eating institution into public-private partnership.

 

[OrionHunter]

Pakistan's economic growth would zoom if there are no restrictions and trade barriers in Indo-Pak trade. But unfortunately, vested interests won't let that happen.

 

[Omar1984]

well if corrupt people leave country may grow at 20 % though thats not possible.
with general good policies and good security we can easily achieve 9-10 percent due to our resources as we do during military regimes like mush time.
point is their is toooo much corruption and too much stupid econmical policies.
we have to follow policies of china,america and india encouraging foreign investment and making the public money eating institution into public-private partnership.

This present government doesn't know anything about economics. During Musharaff's time we had Shaukat Aziz who was in control of the economy and he was an expert, thats why Pakistan had such a stable economy during Musharraf's time and economy always goes down the drain when PPP and PML-N come to power.

 

[somebozo]

Occupying the strategic trade route of Indian sub-continent and having a pathetic economy for last 63 years..shame..we will significantly reduce unemployment by re-exporting Indian goods to Afghanistan, CIS and Russia. This PPP bogus government talks about "boosting" remittances, growing economy, investment ala bala..when the outright fact as per Ministry of Economy...investment down by 58%

 

[khail007]

Pakistan's economic growth would zoom if there are no restrictions and trade barriers in Indo-Pak trade. But unfortunately, vested interests won't let that happen.

It could happen but both sides have to change on the following:

1- Media Bashing
2- Government Attitude
3- Bureaucratic Mechanism (Red Tape-ism)

In my opinion, it will induce change upon minimum possible timeline.

 

[ameer219]

This third year in a row, Pakistan has predicted that it will grow upwards of 4%, but for last couple of years it keeps falling couple of percent short.

Greetings Ares,

Last year, Pakistan was supposed to grow at 4.5%, but due to the floods in 2010, it was revised downwards to 2.5%. Hopefully, Pakistan's economy will grow 4.2% this year. However, I am still hoping for an independent organization such as IMF to verify this growth.

Regards
Ameer

 

[SMC]

This third year in a row, Pakistan has predicted that it will grow upwards of 4%, but for last couple of years it keeps falling couple of percent short.

why are you trolling ares? You know very well why growth was less last year (floods), and that the growth projection was revised appropriately after the floods. Yet you choose to make a cheap post.

 

[notorious_eagle]

The growth this year should be somewhere around 4% and off course, i am not taking into account the undocumented economy which provides thousands of jobs. Kudos to our innovative businessmen and workers whom have managed to beat the odds despite the problems our nation is facing today. The energy shortage and the security situation is taking a huge bite out of our economy and these two main problems need to be addressed.

Pakistan needs energy and she needs it fast. Pakistan's economy has soo much potential to grow, it can easily grow at a rate of6-7% if we did not have these acute power outages every day. I personally know of traders and factor owners whom have not been able to complete their orders due to power outages. Using generators is one option but it drives up the costs. Our policy makers need to figure out a way to end this energy crisis!

 

[Areesh]

Most important things is that govt should do anything to maintain law and order situation in all Pakistan and particularly Karachi. We can't allow the cr@p that was happening in Karachi in past few months. Hopefully we won't see that insane violence again in Karachi.

 

[Hutchroy]

Economic meltdown 2012-2013 - Dr Farrukh Saleem

Economic meltdown 2012-2013

Dr Farrukh Saleem

For the first time in recent memory Pakistan’s private sector has stopped growing. For the first time in recent memory net borrowing of the private sector has been negative – Rs81 billion – indicative of a shrinking private sector. For the first time ever every Pakistani man, woman and child is indebted to the tune of Rs61000 while the Government of Pakistan (GOP) continues to borrow additional funds at the rate of Rs500 crore a day every calendar day of the year.

For the first time in recent memory four out of every 10 Pakistanis have fallen below the poverty line. On March 25, 2008, the day Syed Yousuf Raza Gilani was taking oath of office, there were an estimated 47.1 million Pakistanis living in extreme poverty. Over the past three years an average of 25,000 Pakistanis per day – every single day of the past three years – have been driven into extreme poverty. The total now stands at an estimated 72.9 million below the poverty line. Money, I have been told, cannot buy happiness; neither can poverty.

For the first time in recent memory Foreign Direct Investment (FDI) has suffered such a drastic fall over such a short period of time – from $5.4 billion in 2008 to around a billion. Public Sector Enterprises are now losing Rs100 crore a day, every day of the year, and no one is worried. Pepco, just by itself, is losing Rs50 crore a day, every day of the year, and no one is worried. The Pakistan Railways is about to add a colossal $600 million to our national debt, and no one is worried. Life, they say, “wouldn’t be worth living if one worries over the future as well as the present.”

As per the 2011 Legatum Prosperity Index, Ethiopia, Zimbabwe and the Central African Republic are the only three countries worse off than Pakistan. As per their ‘Safety & Security Sub-Index’, Sudan is the only country worse off than Pakistan. As per their ‘Education Sub-Index’, the Central African Republic, Mali, Sudan, Ethiopia and Nigeria are the only five countries worse off than Pakistan (The 2011 Legatum Prosperity Index).

In the 2011 Failed State Index, countries like Rwanda, Burundi, Ethiopia and Burma are now better off than Pakistan. In the not too distant future we will not be able to service our $60 billion external debt. In the not too distant future we will have to print, print and print to service our Rs6,000,000,000,000 internal debt. The ‘cost of living is going up and the chance of living is going down’. The meltdown has begun.

The writer is a columnist based in Islamabad. Email: farrukh15@hotmail.com