Major economic indicators depict positive signs

[Hyde]

Major economic indicators depict positive signs​

WEDNESDAY, 09 MARCH 2011 23:05

ISLAMABAD: The major economic indicators of the country are depicting positive signs including foreign exchange reserves, workers remittances and investments despite economic challenges being faced by the country.

The latest economic indicators says that production of the Large Scale Manufacturing (LSM) sector expanded 2.2 percent in December, the second positive data point after the four consecutive negative pointS .

"An increase in out-put in Sugar, Petroleum products and Automobile (tractors and buses) were the principal contributing factors to the overall rise in LSM", a latest economic data available said.

It said that export growth has also increased by 38 percent while imports increased by 4 percent in January 2011.

The official data further revealed that workers remittances have amounted to US $ to US $ 6,118 million in July-January 2010-11 as against US $ 5,197 million in the same period of last fiscal year showing an increase of 17.7 percent.

Saudi Arabia,UAE and UK were the largest source of increase in the workers remittances, it said.

The data further revealed that gross foreign exchange reserves including Foreign Current deposits with scheduled banks stood at US $ 17.4 billion as on March 4,2011.

The data said that for the fiscal year 2010-11 (July-February), Federal Board of Revenue (FBR) tax collection stood at Rs.874 billion on net basis as compared to Rs.791 billion in the same period of last financial year, thereby posting an increase of 10.4 percent.

It said that Foreign Direct Investment (FDI) for July -January 2010-11 stood at US $ 947 billion.

The Data further released that the stock of wheat as on March ,03,2011 amounted to 5.04 million tons as against 5.01 million tons in the same period last year.

Similarly, the total reported stock of sugar in the country as on March 4 was slightly over 2,450,228 metric tons , compared to 1,907,695 metric tons last year (February 28,2010).

The data said that the stock of various POL products averaged 13-day on March 4,2011 compared to 11-day on March 04,2010.

 

[Veeru]

No that's not true.

1. The news says

[The major economic indicators of the country are depicting positive signs including foreign exchange reserves, workers remittances and investments despite economic challenges being faced by the country.

a. But the fact is that the foreign exchange reserves raised because of aid/donations pakistan have received due to WoT and also due to the floods. The workers remittances also contributed into it. But these all are external helps, they don't happen because of the internal environment, growth in pakistan.

b. Suppose tomorrow another calamity hits pakistan and people further give aid/donation and the foreign exchange reserves raises because of that you can't claim that as a achievement or a good omen or growing economy.

2. Then the news talk about workers remittances that also a external factor, overseas pakistani sends money back home that does not reflect the health of Pakistani economy. They will send money to their home in pakistan, no matter how's the economy doing.

3. The some raise in the export also due to the fact that EU and other countries have given some temporary concession to the pakistan for export because of the devastating floods.

 

[Ababeel]

The most important factors for growth and development are Political stability, good and corruption free governance and peace in the country. If these things are provided to Pakistan and even Bangladesh, ther are really going to be amongst "The 11 Tigers" of the world.
Good and free education to masses from Primary to Higher level, spreading of R & D culture in higher education institutions, provision of good infrastructure and lesser red tapping for setting up industries, FDI etc can be happened only if the people throw the corrupt politicians and Vaderas out of politics.

 

[Zeeshan360]

I Hope u r country's GDP become atleast more than that of Mumbai

 

[Dance]

Typical! Any positive news about Pakistan and indians will try their hardest to down play the news or find something negative about it

 

[Pfpilot]

I Hope u r country's GDP become atleast more than that of Mumbai

To have such a large portion of your GDP centered in a city with such a small percentage of the population of the country is nothing to be proud of. Im sure there will be a trickle down effect and Mumbai is a great city, having been there myself. Nonetheless, to use it to show off some sort of superiority over Pakistan is pathetic at best.

 

[Areesh]

I Hope u r country's GDP become atleast more than that of Mumbai

Thanks for the cheap comment. I couldn't have expected anything different from you and your countrymen.

 

[Chinese-Dragon]

Thanks for the cheap comment. I couldn't have expected anything different from you and your countrymen.

Not surprising at all, is it?

 

[Nair saab]

Thanks for the cheap comment. I couldn't have expected anything different from you and your countrymen.

Stop comparing a nation with a narrow minded individual...i dont support him
If anything positive happens in Pakistan then am happy about it & i can assure u there r many like minded Indians here...

 

[thebrownguy]

I Hope u r country's GDP become atleast more than that of Mumbai

Dude, whats wrong with you? That was a cheap shot. Off late we many of us Indians have started to sound like "Richie Rich Wannabees" with our new found economic success.
And please do read the article! It is pretty informative.