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  1. #1
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    Pakistan is now a $300-billion economy





    Pakistan has achieved 5.3% economic growth, the highest in a decade, on the back of recovery in the agriculture sector and better-than-expected performance in the services sector, stated the government on the basis of provisional figures.

    The growth puts the country in the league of economies that have a size of over $300 billion.
    Gross Domestic Product, the monetary value of all goods and services produced in one year, is projected to have grown at a rate of 5.28% during the fiscal year 2016-17 ending on June 30, National Accounts Committee (NAC) said.

    However, the figure is provisional and subject to variations once the final results are available at the end of the fiscal year.
    At 5.3%, Pakistan’s economic growth has finally attained the pace it had before the crisis hit the country in 2008.For the next fiscal year 2017-18, the government has set the GDP growth target at 6%.Nonetheless, the PML-N government again missed its annual GDP growth target of 5.7% for the outgoing fiscal year. Yet, the results were better than the forecasts made by international financial institutions.

    As a result of over 5% growth rate, the nominal size of Pakistan’s economy increased to $304.4 billion.

    Understanding GDP growth

    Slightly over two-thirds of the growth – 67% to be precise – came from the services sector, which performed even better than the estimates. The government achieved services and agriculture sectors growth targets but missed the industrial sector growth target despite heavy focus on it.

    Despite a better economic performance, the growth rate was still insufficient to absorb the youth bulge and any pace of growth below this rate would increase unemployment. The government also failed to address serious issues like stagnant investments and savings in terms of total size of the GDP and declining exports.Against the annual target of $24.8 billion, the government has now expected that the exports would remain close to $21.7 billion and even imports are likely to exceed the $45.2 billion projections.



    The current account deficit target of $4.5 billion has been missed by a wide margin and now the government expects an $8.3 billion current account deficit by June this year.The contraction in exports remained a big challenge due to lack of focus on value addition sectors, said Ahsan Iqbal, Federal Minister for Planning and Development on Wednesday. But he said that the government’s focus on energy and infrastructure helped achieve the 10-year high growth rate of 5.3%.

    In its 98th meeting, the NAC approved the provisional growth rate for the outgoing fiscal year, revised down the 2015-16 growth rate to 4.5% and approved the final growth figure of 2014-15 at 4.1%, according to NAC documents.
    Finance Minister Ishaq Dar will formally announce a provisional growth rate of 5.3% on May 25, with the release of the 2016-17 Economic Survey of Pakistan.Out of total 20 key growth indicators, 11 hit the government’s targeted growth rates while 9 indicators, primarily in industrial sector, remained below expectations.

    Agriculture

    After witnessing flat growth in the last fiscal year, the agriculture sector this time performed better due to exceptional growth in forestry and better performance of major important crops. The sector grew at a pace of 3.5%, equivalent to the annual target.
    After facing criticism, the ruling PML-N government finally focused on the sector, which paid dividends. The sector employs close to 37% of the labour force.

    Production of major crops saw 4.1% growth but in case of other crops, the target was missed as these minor crops witnessed hardly any growth. Cotton ginning remained even better than the 2.5% target and showed 5.6% growth. Livestock also posted 3.4% growth but missed the annual target with a small margin. Forestry sector showed 14.5% growth, which was many times more than the 3% annual target. Fishing sector grew by only 1.2% against 3% target.

    Industries

    The government missed all its targets set for the industrial sector despite having the most favoured status. There was presumably zero load-shedding for the sector and it also won many incentives from the government.However, against a target of 7.7%, output stood at 5%. The output of large-scale manufacturing stood at 4.9%, below the official target while small-scale manufacturing grew to 8.1%, slaughtering 3.6%, electricity generation and distribution only 3.4% against a target of 12.5%, mining and quarrying sub sector grew only 1.3% against a target of 7.4%. The construction sector grew at a pace of 9% but missed the target of 15.2%.

    Services

    The services sector, which accounts for more than half the economy, grew by almost 6% against a target of 5.7%. Aided by heavy government borrowing and an increase in the money supply, the financial services sector and government services beat expectations. Wholesale and retail trade posted 6.8% growth against a target of 5.5%. Transport, storage & communication sub sector saw 3.9% growth. Finance and insurance witnessed 10.8% growth against a target of 7.2%.

    Published in The Express Tribune, May 18th, 2017.

    Source

    Last edited by NaveedAhmad; 19-May-2017 at 10:18 AM. Reason: text formatting
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    Re: Pakistan is now a $300-billion economy

    پاکستان کی اکانومی 1000 ارب ڈالر سے زیادہ ھوتی اگر نوازشریف اور زرداری کرپشن نہ کرتے
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    Re: Pakistan is now a $300-billion economy

    نوازشریف دنیا کا کرپٹ ترین انسان ھے
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    Re: Pakistan is now a $300-billion economy

    please also add the income which pak will earn after selling those narcotics taken to uk in premier service that will surely give huge boast .thank you mariam nawaz . mushaid ullah and general bajwas son
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    Re: Pakistan is now a $300-billion economy

    ملتان کے قریب ایک نابینا بچی نے
    روٹ کی مٹی اپنی آنکھوں پر لگائی تو اس کی بینائی فوراً لوٹ آئی
    cpec
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    Re: Pakistan is now a $300-billion economy

    service sector lollll
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by OperationDabardoos View Post
    پاکستان کی اکانومی 1000 ارب ڈالر سے زیادہ ھوتی اگر نوازشریف اور زرداری کرپشن نہ کرتے
    Quote Originally Posted by zaigham View Post
    please also add the income which pak will earn after selling those narcotics taken to uk in premier service that will surely give huge boast .thank you mariam nawaz . mushaid ullah and general bajwas son
    Quote Originally Posted by Farzand e Pakistan View Post
    ملتان کے قریب ایک نابینا بچی نے
    روٹ کی مٹی اپنی آنکھوں پر لگائی تو اس کی بینائی فوراً لوٹ آئی
    cpec
    صالح ظافر


    Quote Originally Posted by such bolo View Post
    service sector lollll


    پاکستان کے لئے کسی بھی اچھی خبر پر پی ٹی آئی کو ایسے مرچی لگتی ہے کہ پورا دن اپنا منہ نوچ نوچ کر لال کر لیتے ہیں ابے چمپوں تو تم ہی کے پی کے میں تبدیلی لے آو فیس بک اور سوشل میڈیا کے علاوہ
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by pak-pak View Post








    پاکستان کے لئے کسی بھی اچھی خبر پر پی ٹی آئی کو ایسے مرچی لگتی ہے کہ پورا دن اپنا منہ نوچ نوچ کر لال کر لیتے ہیں ابے چمپوں تو تم ہی کے پی کے میں تبدیلی لے آو فیس بک اور سوشل میڈیا کے علاوہ
    خبر ہو تو کوئی بات کرے یہ دو تین پٹواری اور تم جو یہاں بیٹھ کر جھوٹ کی ایسی کی تیسی پھیرنے پر لگے ہوے ہو ، کوئی شرم ہوتی ہے کوئی حیا ہوتی ہے
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by Husaink View Post
    خبر ہو تو کوئی بات کرے یہ دو تین پٹواری اور تم جو یہاں بیٹھ کر جھوٹ کی ایسی کی تیسی پھیرنے پر لگے ہوے ہو ، کوئی شرم ہوتی ہے کوئی حیا ہوتی ہے

    پی ٹی آئی پٹواری کو مرچی لگی اب یہ اپنا منہ نوچ نوچ کر لال کر لیگا
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by pak-pak View Post



    پی ٹی آئی پٹواری کو مرچی لگی اب یہ اپنا منہ نوچ نوچ کر لال کر لیگا
    اب کالے منہ والے پر تو کوئی دوسرا رنگ بھی نہیں چڑھ سکتا
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  15. #11
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by OperationDabardoos View Post
    پاکستان کی اکانومی 1000 ارب ڈالر سے زیادہ ھوتی اگر نوازشریف اور زرداری کرپشن نہ کرتے
    Pakistani economy is close to USD 600-700 billion. Unfortunately, people dont trust the system and govt is incompetent so most of the trade and commerce happening is not documented.
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  16. #12
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    Re: Pakistan is now a $300-billion economy

    Pakistan should in fact be ashamed to be only $ 300 billion economy. Germany half in land area and one third in population is Over $ 4 Trillion economy. Debt burden and falling exports predict that we are about to be bankrupt. Agriculture and industry growth is negative. So, what is 5.3 % growth being claimed is worth for Pakistan?
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by pak-pak View Post

    پاکستان کے لئے کسی بھی اچھی خبر پر پی ٹی آئی کو ایسے مرچی لگتی ہے کہ پورا دن اپنا منہ نوچ نوچ کر لال کر لیتے ہیں ابے چمپوں تو تم ہی کے پی کے میں تبدیلی لے آو فیس بک اور سوشل میڈیا کے علاوہ
    اور نوروں کو تو گاڈ فادر کے لقب پر بھی جشن منانے کی عادت ہے۔ ذرا یہ تو بتاوٗ بھائی پخ پخ کہ اس ساری ترقی کے باوجود اکاوٗنٹ ڈیفیسٹ کیوں بڑھ رہا ہے، اور یہ کس بات کی نشانی ہے؟


    The current account deficit target of $4.5 billion has been missed by a wide margin and now the government expects an $8.3 billion current account deficit by June this year.The contraction in exports remained a big challenge due to lack of focus on value addition sectors,
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  19. #14
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    Re: Pakistan is now a $300-billion economy

    22 Karor logon k mulk ki economy sirf $300 Billion hai, Exports only $20 Billions hain, Qarza $70 Billion hai. BC Naacho
    Aggar yeh Noooray 35 saal sey iss mulk ko deemak ki tarah tabah na karta to aaj hum kam az kam $2 Trillion ki economy hotay.
    aor yeh jo 5.3 ki figure hai yeh bhi jhoot h ho gee har baar Ishaqa dollar ghalat figure World bank ko deta hai aor phhir chup kar k maafi maang kar jurmana bhar deta hai/
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    Systematic destruction of Pakistan's economy by Nawaz gang

    Is it a coincidence that Nawaz Sharif has decimated the exports of Pakistan and in return pilled up the massive external debt ? instead of taking the exports to atleast $35 Billion they reduced it to under $20 Billion in just 3 years ? Pakistan's main exports are textile and Sharif's deliberately destroyed the cotton production by installing their sugar mills in cotton areas, then they deliberately increased taxes on IT so all IT firmed runaway to Dubai, just listen to this clip and see how much damage Sharifs have done to this nation.

    When are we going to wake up ? why we are not standing up to this ghaddari ?
    Nations economic power makes them stand out in the world and we are in reverse.

    Last edited by Aalif; 19-May-2017 at 03:57 PM.
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    Re: Pakistan is now a $300-billion economy

    That's it! Apple is worth $700 billion
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    Re: Pakistan is now a $300-billion economy

    Quote Originally Posted by pak-pak View Post



    پی ٹی آئی پٹواری کو مرچی لگی اب یہ اپنا منہ نوچ نوچ کر لال کر لیگا
    A shameless prick like yourself is unaware of what dignity means. If you knew, you'd have probably killed yourself by now. Keep on rambling, shows your frustration.....
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    Re: Pakistan is now a $300-billion economy

    Daronomics of Ishaq Dollar, every thing is down in the gutter but GDP is growing ( which isn't true anyways, Dar has lied and cooked booked on such figures multiple times in the past. IMF even fined Pakistan in 1999 when once again Ishaq Dollar was in charge )
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    Re: Pakistan is now a $300-billion economy

    WTF...300 BLN ONLY..6th largest ..unlimited natural resources ...n result s...300 BLn...phitthay moon..
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    Re: Pakistan is now a $300-billion economy

    look around idiot patwaree..n check the economy of
    places the size of karachi or lahore ..

    thr economies r 400 to 500 bln..

    shame on all the jahileen.. who stil supprting these looters..
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