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Govt making efforts to revive economy: President Mamnoon

ISLAMABAD: President Mamnoon Hussain said the government is giving equal importance to the revival of economy and elimination of the menace of terrorism.       He was addressing a function hosted by Lahore Chamber of Commerce and Industry in Islamabad. The President said Pakistan has entered into a bright period of economic progress due to prudent…

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IMF lauds Pakistan’s economy with favorable outlook

ISLAMABAD: The International Monetary Fund has termed Pakistan’s economic outlook as “favorable” with improved availability of energy, and growth-supporting structural reforms. According to latest report released by IMF, confidence of investors in Pakistan is growing as its economy has stabilized after completing a bailout program. It cited Chinese infrastructure investments as one of the reasons…

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IMF says Pakistan outlook ‘favourable’, warns of risks

Islamabad: The International Monetary Fund (IMF) said the outlook for Pakistan’s economy was “favourable”, citing Chinese infrastructure investments among reasons for growth, but warned of risks to recent progress. Confidence in insurgency-hit Pakistan is growing, with the IMF saying last year that the country had emerged from crisis and stabilised its economy after completing a…

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A foreign investor who never lost hope in Pakistani market

ISLAMABAD: After six months of Osama Bin Laden’s killing, a foreign investor in Pakistan set up the country’s first foreign equity fund. Pakistan was again in the bad news after the killing of Al-Qaeda leader in Abbottabad. However, the Swede investor named Mattias Martinsson invested $1 million of his own money and that of his…

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India loses fastest growing economy tag after sharp growth slowdown

NEW DELHI:  India’s gross domestic product data shocked again on Wednesday as economic growth unexpectedly slumped to its lowest in more than two years in the March quarter, stripping the country of its status as the world’s fastest growing major economy. Annual economic growth at 6.1 percent in the January-March period was even lower than…

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India’s economic growth slows to lowest in more than 2 years

NEW DELHI: India’s economic growth unexpectedly slowed to its lowest in more than two years, dragged down by construction, manufacturing and trade services, and stripping the country of its status as the world’s fastest growing major economy. Annual gross domestic product (GDP) growth for the January-March period came in at 6.1 percent, compared with a…

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Public sector development spending increases to Rs 800 bln from Rs 348.27 bln

ISLAMABAD: The government, with a focus on increasing public sector development spending, has ensured raise in this domain from Rs 348.27 billion during 2013 to Rs 800 billion in 2017.     A number of massive infrastructure, power and other projects have been initiated which will remain instrumental in attracting private sector investment. Sources at Finance…

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GDP growth rate estimated at 6 percent in next fiscal year: Ahsan Iqbal

Planning Minister Ahsan Iqbal says economic indicators of the country are highly positive and growth of GDP in the next fiscal year is estimated to be at 6 percent. Briefing the news persons in Islamabad on Friday, he said agriculture sector has performed significantly during the current financial year with a 3.5 percent growth and…

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Cultivating creative minds

  By: Muzammil Ahmed Ferozi Education is considered as the most powerful tool for overall progress of a nation, but it is crucial to know first what “Education” means in its real sense. In this contemporary and competitive world just to have a degree is not enough! Degree can never ascertain progress and development or…

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India’s claims about fastest growing economy are bogus, says American scholar

WASHINGTON: According to a leading American economist who has been studying Asian economics and trends, India has not been telling the whole truth regarding its economic growth over the past couple of years. In a recent article, Derek Scissors, who is a resident scholar at the American Enterprise Institute (AEI) claimed that India raised its…

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Mexico economy survives Trump’s first 100 days

MEXICO CITY: The Mexican economy has fared better than expected under the uncertainty caused by US President Donald Trump’s first 100 days in office, with GDP up 0.6 percent in the first quarter. The gross domestic product growth, announced Friday by the Mexican

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PWC forecasts Pakistan to exceed Canada’s economy by 2050

ISLAMABAD: The economies of emerging market minnows Egypt and Pakistan could surpass the Canadian economy by 2050, according to a “brave” new report by management consultancy PricewaterhouseCoopers (PWC). “By 2050, emerging economies such as Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and…

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Pakistan’s economy to continue growth in 2017: Report

ISLAMABAD: Pakistan’s economy is all set to grow further during current year due to government’s pro-growth policies. A report carried by a section of press said 2017 may be the best year in the country’s 70-year-long history. The annual Gross Domestic Product may increase from 270 billion dollars to around 300 billion dollars. In 2016,…

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Economic indicators show positive growth in first half

ISLAMABAD: Despite several challenges, the macroeconomic stability has been achieved and now the economy is on trajectory path as suggested by many economic indicators. According to official sources, foreign reserves is one of the main indicators and the total liquid reserves held by the country stood at US $23,163.6 million as on December 30. The…

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Japan third-quarter GDP revised down to +0.3 percent

Japan’s economy grew at an annualized rate of 1.3 percent in the July-September quarter, revised down from a preliminary reading of 2.2 percent annualized growth, Cabinet Office data showed on Thursday.

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Int’l community acknowledges economic growth in Pakistan: Marvi

ISLAMABAD: Chairperson of Benazir Income Support Programme (BISP) Marvi Memon said the international community had acknowledged economic stability and growth in Pakistan. The national economy was further strengthened due to prudent policies of PML-N government. The Gross Domestic Product (GDP) had also increased, she said while talking to a private news channel. She said the…

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10000 MW will be added to national grid by early 2018: Dar

ISLAMABAD: Federal Minister for Finance Senator Mohammad Ishaq Dar on Sunday said the government would be able to overcome the energy crisis by early 2018 by adding 10000 Mega Watt more electricity to the national grid. “Currently we are facing a shortfall of about 5000 MW of electricity  whereas energy projects of 24000 MW are…

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Energy Woes

Written by: Javed Mirza Like many others, I am convinced that it is not terrorism but energy scarcity which stands as the biggest problem of  Pakistan. Country’s power sector is exposed to multiple challenges including expensive fuel mix, insufficient network capacity, theft and nonpayment of electricity bills. Despite having generation capacity of approximately 27,000 MW,…

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Pakistan facing revenue generation crisis: report

ISLAMABAD: Despite recent optimism surrounding Pakistan’s economy, the country is facing an “existential crisis” stemming from its woeful tax collection rates and inability to finance itself, a report said Wednesday. Pakistan’s economy grew at 4.24 percent during the 2014-2015 fiscal year with per capita income rising a significant 9.25 percent, markers that come as investor…

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FBR collected Rs2.58 tln tax revenues in FY15

ISLAMABAD: The Federal Board of Revenue (FBR) has to collect Rs 2580 billion, which is 14 percent higher than the Rs2255 billion tax collected in the last fiscal year 2013-14. “We have collected Rs. 2580 billion till June 30, compared to Rs2255 billion collected in the same period of the last fiscal year which is…

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Telecom services contribution to reach 1.4 % of GDP by 2025

ISLAMABAD: Ministry of Information Technology and Telecommunications (MoIT) has envisioned to take contribution of telecom services up to 1.4 percent of Gross Domestic Product (GDP) by 2025. Besides, the active export of telecom sector will be enhanced from US $ 1.4 billion to $ 4.0 billion by 2020. Official sources said it has been recognized…

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