Pakistan Economy stabilised; increase in growth rate eyed

[ameer219]

Economy stabilised; increase in growth rate eyed: Salim Raza
MUHAMMAD SALEEM


LAHORE (February 23 2010): State Bank Governor Syed Salim Raza on Monday said the economy has been stabilised and now we will work for the acceleration of growth rate. He said this while talking exclusively to Business Recorder here. When asked if he would like to give any good news to the nation, Syed Salim Raza replied.

"There has been economic stabilisation and now we will march towards accelerating the growth rate." He expressed optimism that this year the inflation rate will be brought down to 12 percent." Earlier, talking to reporters, the SBP Governor said:

"All the 42 banks operating in Pakistan could not show strong performance at a time. Keeping in view the market trend, it is good to see banks, instead of seeking help from the SBP, are opting for mergers." He said he is in favour of promoting mutual trade in South Asia like the European Union. He said opening of branches in India and Pakistan is an internal arrangement by banks themselves.


Business Recorder [Pakistan's First Financial Daily]

 

[Luftwaffe]

A BIG NO!!

Pakistan Economy is not stabilized but its heading for yet another disaster in 2 year 2 Ministers of Finance have been replaced and Yet 3rd one is going while we're in the middle of stupid agreements with IMF/World bank..

How is the economy stabilized when prices have hiked and people are unable to pay back bills or buy necessities of life? This all bs fake economic information provided by Pak govt in short we're in bad shape trust me unless we don't invest in strategic reserves like Oil/Coal/Gawadar we're doomed..

 

[Zovc]

It is because 1.2 billions(aid) stimulus given by obama....I hope you get more and more stimulus...to sustain this amazing growth

We never got that stimulus. There is a huge fuss on rejecting any aid from the US (Kerry-Lugar Bill etc.). Moreover 1.2 billion with the whole technicalities amounts to peanuts. It's another one of those huge misconceptions that Pakistan is run on aid money.

 

[Luftwaffe]

exactly people think Pakistan is being feeded and run with us money to operate there is a mechanism behind what little us gives it take out as much possibly more..a simple example is war on on terror it alone cost Pakistan an astounding loss of 34/35 billion dollars some of you are welcome to reject this figure its not me its the govt of Pakistan both past and present claims..even if the claim is not 34 billion its clear it has past 10 billion dollars..

 

[ameer219]

Pakistan Economy is not stabilized but its heading for yet another disaster in 2 year 2 Ministers of Finance have been replaced and Yet 3rd one is going while we're in the middle of stupid agreements with IMF/World bank..

How is the economy stabilized when prices have hiked and people are unable to pay back bills or buy necessities of life? This all bs fake economic information provided by Pak govt in short we're in bad shape trust me unless we don't invest in strategic reserves like Oil/Coal/Gawadar we're doomed.

I do not know about that,but the economy is definitely in a much better shape than in 2008 when we were hit really badly,that cause our stocks to crash. Now Pakistan's,stocks are rising,and her economy is improving,even European countries are now trying to open the market for Pakistani products

Business Recorder [Pakistan's First Financial Daily]

Furthermore, he even said he will try to bring down the inflation if he could. So we should be more optimistic and try to get our heads up.

It is because 1.2 billions(aid) stimulus given by obama....I hope you get more and more stimulus...to sustain this amazing growth

After all we have gone through for this war,, sacrifising almost 35 billion, this 1.5 billion aid will not turn the tables around, so please think before talking.

 

[DMLA]

Growth and Prosperity are the key to solving some of the most fundamental issues plaguing SA today. It is the most powerful deterrent against war! All the best to pakistan for the new decade!

 

[Luftwaffe]

in case of Pakistan i wouldn't take paper records as final word..
PIA losses, Railway losses, Agriculture losses, more sick industries shutting down, farmers conditions worst, price hikes for most commodities for daily use..while govt and opposition parties are stuck in their own problems and no one seems to be serious about Pakistan "phaley hum phir Pakistan" policy i do not see Pakistan to be truly heading in the right direction..we shouldn't be rejoicing with such news remember we were rejoicing when stock market broke record and here-there celebrations and there when stock exchange crashed..well truth is billions of rupees wasted a project that might cost 50 coror govt has mentioned cost of 200 coror rupees how do you expect every year budget be spend in right place properly frankly I'm in a lot of people who thinks Pakistan will need a revolution..

 

[SMC]

It is because 1.2 billions(aid) stimulus given by obama....I hope you get more and more stimulus...to sustain this amazing growth

What ignorance. Do you know how much Pakistan has lost in WoT compared to what US has given us?

 

[SMC]

Btw, we just need some semi-stability and our economic growth will go up again to 5-8%.

 

[T-Faz]

Yes I have seen the markers for economic growth and IMF has said that Pak is on the right path for economic acceleration, unfortunately pessimistic guys like to see only bad news even when things are looking better.

As for the obama aid, are indians stupid or just like stirring up trouble. The aid never arrived and it is peanuts as it cannot do much.

 

[Luftwaffe]

T-Faz..unfortunately a nation with billions of dollars in debt to west and IMF/World on their money i can't call Pakistan moving in right direction because according to their policies we implement them and when things go wrong they orders us to get more loan to fix things and in doing so we go into more debt.
so yeah the day Pakistan explores more oil fields gawadar is fully developed and capable to make billions of dollars, when our ship breaking/making industry is revived like in 1970s, so when coal projects is booming bringing huge revenues that will be the day i would say yes Pakistan is heading in the right direction...writing off 460 billion rupees since 1971 till date and no accountability i say bad economics.!

 

[Sanchez]

I believe that Pakistan government should push for the pipeline project from Iran to China and highway/railway link between Gwadar and China. These multi-billion projects would bring lots of positive influence as well as opportunities to Pakistan economy.

 

[qsaark]

How much economy is stabilized and the growth rate is increasing, this question should be asked from the common Pakistani people who are suffering and paying the real price of inflation, in-security and joblessness. The 'markers' used by the so-called economist (especially in Pakistan) are nothing but statistical juggling. These 'markers' work in the countries where the economy is 'documented', where you know how what is happening, the earnings, the spendings and the taxations. In Pakistan, the undocumented economy constitutes more than the documented economy yet we are trying to measure the progress using 'markers'.

Mark Twain wrote in his Autobiography: "There are three kinds of lies: lies, damned lies and statistics."

 

[PAFAce]

It is because 1.2 billions(aid) stimulus given by obama....I hope you get more and more stimulus...to sustain this amazing growth

Do I smell something burning?

 

[zagahaga]

if i may ask? what happend to the port at balochistan why not opened?