Pakistan's GDP may have grown only 2.7% this year.

[bindaas]

it was obvious that pakistan would have such a low growth rate when there is power crisis, railway crisis, textile industry making losses , law and order situation, cash crunch budget.

 

[Mo12]

Wow 2.7% is very low for a undeveloped nation! Shame!

 

[Nothing]

The situation is very sad indeed but it will take 8-10 years to improve as there is lot of mess, load shedding and extremism.

I don't think so .. their fundamentals are correct at business level.. they have thriving business community like India, which will never leave their efforts to grow.. things are messed up at social and political level.. which will take time to improve unless and until there is void of strong leadership

 

[Bobby]

Raat beet gayi...Saajan....Tum na Aaye....

 

[joekrish]

Do you think IK can bring in that change?

 

[Bobby]

These are not official figures, so we will have to wait and see, though this year has recorded a big decline in militant attacks, so after the next elections we can hope to see significant economic growth, I don't know why indians are getting so pleased, even with good economic growth - the majority of indians live in squalor and *****, as I have witnessed.

Dont forget your poverty rate much below to India.....poor people should not laugh on other's poverty

 

[karan.1970]

These are not official figures, so we will have to wait and see, though this year has recorded a big decline in militant attacks, so after the next elections we can hope to see significant economic growth, I don't know why indians are getting so pleased, even with good economic growth - the majority of indians live in squalor and *****, as I have witnessed.

2011 was worse than 2010 in terms of civilian and security forces deaths in terror/sectarian violence..

Rest is off topic...

 

[RiazHaq]

Burki's claim of 2.7% appears to be politically motivated to make the PPP govt performance appear worse than it is. It's well below the recent FBS estimate of 3.2% gdp growth in first 9 months.

Car sales increased 15 percent year over year in first 9 months of the fiscal year. Cement sales are rising with growing housing demand for increasing population. Lucky Cement, Pakistan’s biggest publicly traded construction materials company, is expected to post record earnings this year. Rising farm prices of bumper crops are pumping hundreds of billions of rupees each year into Pakistan's rural economy.

Contrary to government statistics of a stagnant economy, packed shopping malls and waiting lines at restaurants tell a different story-- the story of growing discretionary incomes of Pakistani consumers today.

So where is the disconnect between these two opposite views of Pakistan's economy? Naween Mangi of Businessweek answers it in her piece "The Secret Strength of Pakistan's Economy". She attributes it to the fast growing informal sector of the nation's economy that evades government's radar, illustrating it with the story of a tire repair shop owner Muhammad Nasir. Nasir steals water and electricity from utility companies, receives cash from his customers in return for his services and issues no receipts, pays cash for his cable TV connection, and pays off corrupt police and utility officials and local politicians instead of paying utility bills and taxes.

Haq's Musings: Pak Consumer Boom Fuels Underground Economy

 

[SMC]

The intentions of bharatis are crystal clear to those Pakistanis who want to have peace with them. If Pakistan's economy grew 8%, do you think, bar a few anomalies, a single one of these guys would be posting in such a thread congratulating us? And keep in mind, these guys are posting based these numbers based on speculation by some independent individual analyst rather than an official figure by the Pakistani state or an internationally recognized organization. Just imagine the joy they'd feel if these were official figures. I mean the orgasm these guys get due to our problems is in front of your eyes. When Pakistan was doing better, these guys were nowhere to be seen, and I can guarantee you when Pakistan starts doing better again, they'll be nowhere to be seen again.

 

[RiazHaq]

Here's a PPI report on Pak auto sales data for first 9 months:

Pakistan car (including LCVs, Vans and Jeeps) sales during 9MFY12 rose by 15 percent to 128,576 units compared to 111,852 units in same period last year.

The volumetric growth primarily stems from i) June to July deferred sales on account of reduced tax structure announced in Federal Budget FY12 ii) Yellow cab scheme announced by the Punjab Government iii) 21 percent increase in workers’ remittance in 9MFY12 and iv) monetization due to rising government fiscal deficit.

According to Topline Securities analysis report, in 3QFY12 (Jan-Mar) the industry sales rose by 7 percent from 43,753 units to 46,632 units in same period last year, while are up by a significant 22 percent as compared to last quarter (Oct-Dec).

In March 2012 car sales stood at 16,678 units up 6 percent as against 15,710 units sold in March of last year and are up 11 percent versus 14,962 units sold last month.

With respect to individual companies, PSMC continued to depict strong growth of 32 percent in 9MFY12 to 81,360 units versus 61,693 units seen in same period last year as it stands out to be the prime beneficiary of announced yellow cab scheme.

In 3QFY12, the company sales stood at 30,642 units from 3QFY11, up 31 percent and 26 percent from 3QFY11 and 2QFY12, respectively. In March, PSMC sales stood at 11,198 units, up 16 percent from same month last year and 12 percent from last month.

Indus Motors 9MFY12 sales growth remained subdued. Company sold 38,858 units compared to 37,259 units in same period last year, up by 4 percent.

In 3QFY12 the company sold 14,792 units against 14,851 units in the same period last year, but depicted a significant jump of 26 percent as compared to last quarter.

The recent recovery in sector’s volumetric sales along with the improved margin is expected to bode well for the sector’s profitability going forward.

Car sales up by 15pc during 9 months of current financial year

 

[Dance]

And keep in mind, these guys are posting based these numbers based on speculation by some independent individual analyst rather than an official figure by the Pakistani state or an internationally recognized organization. Just imagine the joy they'd feel if these were official figures.

Its funny because they were having issues in this thread:

http://www.defence.pk/forums/world-...nomy-grow-3-percent-2012-2013-bbc-report.html

But of course they have double standards when it comes to Pakistan

 

[rcrmj]

These are not official figures, so we will have to wait and see, though this year has recorded a big decline in militant attacks, so after the next elections we can hope to see significant economic growth, I don't know why indians are getting so pleased, even with good economic growth - the majority of indians live in squalor and *****, as I have witnessed.

lol, they are Indians, as you mentioned

 

[VelocuR]

Bombay slums: Dark, dingy and full of hope
May 4, 2012
Written by Raksha Kumar

 

[AUz]

Well atleast our ladies have toilets while ladies/girls of neighboring country go into fields , pull their shalwar down , and poop with their anus naked.

Actually it shows the extreme resilience of Pakistani economy. Most bhartis on this forum don't even know the difference between a "capital good" and a "consumer good" .... They don't know jack about economy and comment like they know something. Bhartimata/hindu-stan went into negative growth in 1990s ...We are facing literally 8X worse conditions but we are STILL 'growing' ... Our economy didn't go into negative growth.

Also , these bhartis are so cry babies that they are having orgasm on anyone's opinion..remember these are NOT official stats.. Very bhartis were crying when someone posted this thread .. Bharti kids were like "No no , its not official stats" and now look at them ...

http://www.defence.pk/forums/world-affairs/177223-indian-economy-grow-3-percent-2012-2013-bbc-report.html

Meanwhile , bharti soldiers died b/c their tank fell into the ditch because their tanks don't even have night visions ..last time , their tank fell into a well ...

 

[RiazHaq]

Here is a News report on foreign buying pushing shares to four year highs in Karachi:

The Karachi Stock Exchange’s benchmark 100-share index rose 2 percent on Thursday to close at a four-year high as strong foreign buying encouraged local investors to take new positions in key stocks, dealers said.



“Healthy foreign buying buoyed market sentiment,” said Ovais Ahsan, head of equity sales at Optimus Capital Management. Foreign investors bought shares worth $13 million in Thursday’s and Wednesday’s sessions.



The benchmark 100-share index increased by 277.40 points, or 1.96 percent, to close at a 48-month high of 14,419.92 points – the level last seen on May 15, 2008. The index closed just 34.58 points lower than the intra-day high of 14,454.50 points. The KSE 30-share index surged by 211.79 points, or 1.71 percent, to 12,578.11 points.



Out of total 389 companies’ shares traded, 247 advanced, 90 declined, while 52 closed unchanged.



Stocks which played a leading role in driving the 100-share index up included Pakistan Telecommunication Company Limited (PTCL), Oil and Gas Development Company Ltd. (OGDCL), MCB Bank, Allied Bank Limited, Habib Bank Limited, Standard Chartered Bank Limited and Unilever Pakistan. Other notable stocks included Lotte PakPTA, Fatima Fertilizer Company, National Bank of Pakistan, Lucky Cement, Engro Foods, Faysal Bank and Nestle Pakistan.



Ahsan said that foreigners were taking fresh positions as Pakistani markets remain cheaper in the region. Moreover, foreign investors were expecting a positive outcome from ongoing talks between Pakistan and the United States over new terms of engagement on war on terror.



He said that fertiliser stocks remained hot for investors on reports that the government might buy 0.3 million ton of urea from local manufacturers instead of importing the same quantity to maintain its strategic reserves.



Samar Iqbal, an equity dealer at Topline Securities, said that heavyweight OGDCL remained in the limelight and gained Rs3 on reports that the government was expected to increase wellhead price of Qadirpur field.



Ahmed Rauf, a trader on foreign desk of JS Global Capital, said that many of the investors were bringing in their money into Pakistan since the government allowed them to invest in shares without disclosing their source of investment till June 2014.



He added that foreigners were acquiring stocks in fertiliser, banking, cement and oil sectors. “Yesterday, they were seen buying stocks including Fatima Fertilizer Company, PTCL, Engro Corporation, Lucky Cement, DG Khan Cement and Karachi Electric Supply Company.”



Turnover improved to 293.97 million shares from 246.39 million shares traded in the previous session. Turnover in futures market enhanced to 16.70 million shares from 11.87 million shares traded a day earlier.



Market capitalisation rose by Rs68 billion to Rs3,683 billion.



PTCL was the turnover leader with 26.41 million shares as it closed at Rs14.42 with one-day maximum allowed increase of Re1. It was followed by Lotte PakPTA with 22.76 million shares turnover as it closed at Rs9.32 with an increase of 78 paisas. DG Khan Cement was on third position with 22.76 million shares turnover as it closed at Rs43.41 with a surge of Rs1.57.

Foreign buying helps KSE 100 index rise 2pc, closes at 48-month high - thenews.com.pk