growth
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FBR, SBP rules hinder IT export growth | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Information Technology and Telecommunication Syed Aminul Haque has said that the Federal Board of Revenue’s (FBR) policies and some rules of the State Bank of Pakistan (SBP) are hindering the growth of IT exports and increase in export remittances from freelancers. It has sparked fears that the local talent may…
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‘Political instability holds back economic growth, not graft’ | The Express Tribune
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[ad_1] Insisting that corruption is not the major hindrance to Pakistan’s economic progress, Federal Minister for Planning, Development, Reforms and Special Initiatives Ahsan Iqbal on Monday said that some countries even managed to develop with similar levels of corruption. “I can count many countries in the world that have developed despite having similar corruption as…
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Double whammy of consumption-based growth | The Express Tribune
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[ad_1] ISLAMABAD: Despite growing at a healthy rate of 5.97% in FY22, Pakistan’s economy remains in hot waters and needs an IMF bailout. In fact, the heathy growth rate is being widely considered to be one of the principal reasons behind the gloomy economic scenario. For the upcoming fiscal year, a softer 5% growth target…
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Auto sector records 46% growth | The Express Tribune
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[ad_1] KARACHI: Despite high car prices, Pakistan’s auto sector recorded a growth of 46% to about 27,000 units in May 2022 compared to the corresponding month of last year. Car sales, including sales of non-PAMA (Pakistan Automotive Manufacturers Association), came in at around 27,000 units, which was almost flat month-on-month amid higher car prices and…
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External borrowing funds economic growth | The Express Tribune
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[ad_1] ISLAMABAD: Economic Advisory Group Chairman Javed Hassan, while questioning the credibility of the new budget, has pointed out that most of the economic growth will be funded through external borrowing. “Budget was announced during negotiations with the IMF (International Monetary Fund). This can put Pakistan in an extremely onerous situation as much of the…
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Real estate taxes to hinder growth of construction sector | The Express Tribune
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[ad_1] ISLAMABAD: The new taxes imposed by the government through the budget for 2022-23 on the real estate sector will badly affect the growth of construction industry and largely increase unemployment, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. “The construction industry plays a vital role in the development of the…
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With demand growth, big industries pick up momentum | The Express Tribune
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[ad_1] KARACHI: Pakistan’s large industries like food, fertiliser, textile and automobile maintained a robust growth for the second consecutive fiscal year in FY2021-22, as the supportive measures taken by the ousted PTI government created renewed demand for goods in the country. Economic Survey 2021-22 said that accommodative fiscal and monetary measures continued in FY22 which…
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Agriculture sector growth stays robust | The Express Tribune
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[ad_1] LAHORE: The agriculture sector of Pakistan has recorded a robust growth of 4.40% in fiscal year 2021-22, thereby surpassing the target of 3.5% and beating the growth of 3.4% in the previous year, said the Economic Survey of Pakistan 2021-22. Except for the staple crop, ie wheat, all other crops have shown an impressive…
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Miftah predicts 5%-6% GDP growth in next fiscal | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail predicted on Tuesday that country’s GDP will grow by 5%-6% and the government would control the high rate of inflation. The minister’s remarks came as he addressed the pre-budget seminar, in which he also revealed that the government has prepared a progressive fiscal budget, with the deficit reduced to below 5%. The minister…
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Miftah predicts 5%-6% GDP growth in next fiscal year | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail predicted on Tuesday that country’s GDP will grow by 5%-6% and the government would control the high rate of inflation. The minister’s remarks came as he addressed the pre-budget seminar, in which he also revealed that the government has prepared a progressive fiscal budget, with the deficit reduced to below…
