Agriculture credit disbursement witness 4.6% growth

ISLAMABAD: Agriculture credit disbursement remained encouraging during the fiscal year July-March 2020-21 despite the global pandemic. According to the Economic Survey of Pakistan, agriculture lending institutions disbursed Rs 953.7 billion, which is higher than 4.6 percent as compared the disbursement

Will India’s GDP decline be Modi’s downfall?

The Indian economy received a battering due to the coronavirus pandemic as it released the latest estimates of economic growth for the last financial year ending March 2021. The provisional figures released by National Statistical Office, India’s Gross Domestic Product

GDP growth rate estimated at 3.94% in FY2020-21

ISLAMABAD: The National Accounts Committee (NAC) has estimated that the provisional growth rate of Gross Domestic Product (GDP) during the current fiscal year (2020-2021) was 3.94 percent. “Due to a combination of GDP growth and strengthening of Pak rupee against

Economic growth

It is now less than a month before the government passes the budget for the next fiscal year on June 11. We have heard the oft-repeated statement from the prime minister that relief for masses in on the way and

FBR’s growth shows policies have led to economic revival: PM

ISLAMABAD: The Federal Board of Revenue (FBR) surpassed its revenue collection target to Rs384bn in April, the second highest collection in the second half of current fiscal year (FY21). Prime Minister Imran Khan has commended FBR’s efforts on achieving growth

FBR achieves growth of 57% in April to collect Rs384 bn

ISLAMABAD: The Federal Board of Revenue (FBR) surpassed its revenue collection target to Rs384bn in April, the second highest collection in the second half of current fiscal year (FY21). According to provisional data collected by the tax authorities, the FBR

IMF forecasts 1.5% growth rate for Pakistan in 2021

DUBAI: The International Monetary Fund (IMF) has forecast GDP growth rate at 1.5 percent for fiscal year 2021, against negative 0.4 percent in 2020. The IMF in its latest report, “World Economic Outlook (WEO), managing divergent recoveries” has projected GDP

Growing housing needs

According to a UN report, Pakistan’s population is expected to reach 242 million by 2025. With the expected trajectory in population, the government will need to address the growing housing and urban needs before the situation worsens. The haphazard growth

Problems of farmers

Agriculture is considered the backbone of Pakistan’s economy and accounts for18.9% of the GDP and employs 42.3% of labour force. The sector directly supports three-quarters of the country’s population, employs half the labour force and contributes a large share of

Industrial output grows 11.4% in Dec 2020

ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar said the robust growth (11.14 percent) of Large Scale Manufacturing (LSM) continued in December 2020. “The V shaped economic recovery in Pakistan is led by industries”, he said in a tweet.

Agriculture growth rate envisaged at 7.5% over next seven years

ISLAMABAD: The National Assembly Special Committee on Agricultural Products has said that transformation and value addition is required in the agriculture sector for achieving growth rate of 7.5 percent by fiscal year (FY) 2027-28. The committee noted that the overarching

Moody’s forecast 1.5% GDP growth, 4.4% in next fiscal year

ISLAMABAD: Moody’s Investor Service has forecast that Pakistan’s economy will grow at a modest rate of 1.5 percent during the current fiscal year which will accelerate to 4.4% in the next fiscal year. “Economic activity will remain below pre-outbreak levels,

IMF lowers China growth forecast to 7.9% for 2021

BEIJING: The International Monetary Fund has lowered its 2021 growth forecast for China to 7.9 percent, following a year of “significant human and economic costs” inflicted by the COVID-19 crisis. The figure is slightly below the 8.2 percent the IMF

World Bank revises Pakistan’s growth forecast to 0.5pc

ISLAMABAD: The economic growth rate for the current fiscal year is forecast to remain at 0.5 percent, said the latest projection by the World Bank. According to the Global Economic Prospects (GEP) 2021 issued by the World Bank, the recovery

China’s economy grows 4.9% in third-quarter, extending virus recovery

BEIJING: China’s economy grew 4.9 percent year-on-year in the third quarter, sustaining its rebound from bruising virus lockdowns and moving closer to pre-pandemic levels. The world’s second-largest economy grew slightly below expectations in the July-September period, National Bureau of Statistics

Australia enters recession after three decades of growth

MELBOURBE: Australia has entered its first recession since 1991 after the economy shrank seven percent in the second quarter, official figures showed as the country reels from the coronavirus pandemic. The Australian Bureau of Statistics said it was the fastest

Pakistan to target 2.3% growth in upcoming budget

ISLAMABAD: The government will target growth of 2.3% in fiscal year 2020-21 as it presents the budget for the upcoming fiscal year on Friday. The budget is being passed amid a changing economic landscape that would depend mainly on the

Focus on agricultural growth

The reason the economy is important is when a country is unable to pay back its debts (called default in economic terms), the internal economy might be able to function but it will be never difficult to attract foreign investments.

China drops annual GDP growth target for the first time

BEIJING: China dropped its annual growth target for the first time on Friday and pledged more government spending as the COVID-19 pandemic hammers the world’s second-biggest economy. The omission from Premier Li Keqiang’s work report during this year’s meeting of

Youth loans for growth

Prime Minister Imran Khan inaugurated his government’s flagship initiative, the Kamyab Jawan Programme, with a renewed commitment to support youth receiving employment and education. A similar programme was launched by the previous government but saw little success due to the