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Pak Economy

Important information about Pakistan economy

Pakistan among bottom-20 in Global Competitiveness Report 2012-2013

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 * Falls 6 points on the Global Competitiveness Ranking to 124th place among 144 economies

ISLAMABAD: Pakistan has been ranked among the bottom 20 of the 144 economies around the world in the Global Competitiveness Report (GCR) 2012-2013, released on Wednesday by the World Economic Forum (WEF).

According to the GCR 2012-13, Pakistan lacks a long-term view of competitiveness. The level of corruption and poor governance are some of the factors slowing down Pakistan’s economic growth, therefore ranking Pakistan at 124 among 144 other countries on the index. The WEF ranks countries on more than 100 economic indicators comparing 144 countries.Read More »Pakistan among bottom-20 in Global Competitiveness Report 2012-2013

Pakistan economic survey 2011-12

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Agriculture sector posts 3.15 percent growth 

The agriculture sector posted a growth of 3.1 percent during 20110-12 mainly due to positive growth in agriculture-related sub-sectors, except for the minor crops.

According to the Economic Survey of Pakistan 2011-12 on Thursday, major crops accounted for 31.9 percent of agriculture sector and experienced a growth of 3.2 percent in fiscal year 2011-12 as against the negative growth of 0.2 percent in 2011. The significant growth in major crops was contributed by rice, cotton and sugarcane by 27.7 percent, 18.6 percent and 4.9 percent, respectively.
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Pakistan heading for new financial crisis

* Analysts say miniscule tax revenues, mismanagement and overgenerous subsidies mean country faces major financial crisis

Miniscule tax revenues, mismanagement and overgenerous subsidies mean Pakistan is heading for a new financial crisis, say diplomats and analysts, with this week’s budget unlikely to offer any respite.

The budget deficit stood at 6.6 percent of GDP last year, according to the State Bank of Pakistan (SBP), which warned that government borrowing was crowding out the private sector from access to credit.Read More »Pakistan heading for new financial crisis

Pakistan’s struggling economy

Abdul Wajid Khan

Pakistan’s economy is facing the worst time of its history and witnessing some serious jolts. Pakistan is struggling to counter its current economic instability. The major problems of our economy are the result of increasing inflation, constant depreciation of the rupee against the dollar, mismanagement, corruption and bad governance. The increasing prices of petroleum products, low growth rate, energy crisis, menace of terrorism, worsening law and order situation add insult to injury.
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IMF reforms: Sucking poor’s blood

Shaukat M Zafar

Globalization is not new but in recent years it has become the subject of an impassioned debate. Karl Marx had predicted that the relentless search for markets will alter older social structures. As he put it “all that is solid will melt”. That prediction is going to be proven to be true in the today’s scenario. The policy of the government is to make Pakistan a private sector-driven economy where the government will only regulate. But privatization in Pakistan has been proved to be very controversial. It has generated strong debates in Pakistan where it is perceived to have more negative impact. Although it is an efficient way of promoting competition and enhancing growth, yet it has been experienced that it makes the poor poorer by increasing unemployment and reducing access of the poor to basic goods and services through increase in prices. The vast majority of people are worse off now than before.Read More »IMF reforms: Sucking poor’s blood