Finance Minister Ishaq Dar while presenting the budget for fiscal year 2015-16 on the floor of the National Assembly said a growth rate target of 5.5pc had been set for the upcoming year, which he… Read More »Highlights of Pakistan Budget 2015-16
GDP grows by 4.24% in fiscal year 2014-15 against a target of 5%
* LSM sector registers growth of 2.38% against a target of 7% * Industrial sector grows by 3.62%
Majority of the economic targets set for fiscal year 2014-15 were missed, including the Gross Domestic Product (GDP) which grew by 4.24% against a target of 5%, according to the Pakistan Economic Survey Report 2014-15 released on Thursday.Read More »Pakistan Economic Survey: Higher growth but missed targets
Small savers, who put their money in the National Savings Schemes, have reason to sulk as the rate of returns on NSS has plunged to a 10-year low.
Following the recent cut in policy rate by 50 basis points, the rates that were already on the slide stood further trimmed by 48 to 72bps across all products—Short Term Saving Certificates (STSC) and Regulator Income Certificates (RICs).Read More »Pakistan National Saving Schemes rates at 10-year low
Pakistani Finance Minister Ishaq Dar said on Thursday that country’s foreign exchange reserves will cross $18.2 billion by end-2015, and from July 1, Computerised National Identity Card (CNIC) number will be treated as National Tax Number (NTN) for individuals.
The minister, who was addressing members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), categorically stated that the government’s focused approach would continue to transform the recently achieved macro-economic stabilisation into economic growth.Read More »CNIC number to replace NTN
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Islamabad: CDA has approved PC1 for the construction of signal free highway from Zero Point to Rawat.
PC1 has been approved at the cost of Rs 24 billion. Under this project a 10-lane 25 kilometer long highway will be constructed from zero point interchange to Rawat. The project will be completed within two and a half year. Noman Sheikh has been appointed as project director for the accomplishment of this work.Read More »Signal-free highway from Rawat to Zero Point
Pakistan is facing shortage of over 9 million housing units as formal financial sector caters only up to 2 per cent of all housing transactions, the lowest ratio in the region.
The State Bank’s Quarterly Housing Finance Review, released on Friday, stated that there was shortage of around 8 million housing units in 2009, which has been accumulating by 0.34 million units every year (World Bank, 2009).
The report said the informal lending caters up to 10-12pc of transactions for housing.Read More »Housing shortage in Pakistan reaches 9m units
By Adnan Adil
In the absence of any regulatory mechanism by the government and a dysfunctional judicial system, the land property mafia has ripped off the middle-class
Our newly rich property magnates keep making quite a splash by building grand mosques and flaunting their charity works. These shows of riches and piety mock the misery of millions of Pakistanis on whose hard earned incomes these tycoons have thrived. The private real estate business has prospered in a country that has a shortage of 10 million housing units according to official estimates, which means that 60 million people need housing on the basis of six members constituting a family. If one takes into account the fact that 80 percent of the 200 million population either lives below or on poverty line, an unofficial but more realistic estimate of this shortage would be 20 million units.Read More »Stakeholders against affordable housing