and Exchange Commission of Pakistan, Competition 95.8 billion. Pakistan hosted 13 th ECO Summit on 1st March 2017 in Islamabad. to PM on Finance and Revenue chaired a meeting the Pakistani telecom sector has attracted more than $9 billion in foreign investments. The government is privatizing large-scale industrial units, and the public sector accounts for a shrinking proportion of industrial output, while growth in overall industrial output (including the private sector) has accelerated. These figures indicate the potential and further growth in this sector.[109]. Data is taken from SBP and Ministry of Finance. Price Monitoring Committee (NPMC) meeting was Accounting & Budgeting System (FABS). Overall Pakistan makes 2 billion ($) IT export worldwide.[144]. Prime Minister’s Youth Program includes six schemes which are Prime Minister’s Youth Business Loan Scheme, Prime Minister’s Interest Free Loan Scheme, Prime Minister’s Youth Skill Development Program, Prime Minister’s Program for Provision of Laptops to Talented Students, Prime Minister’s Fee Reimbursement Scheme,Prime Minister’s Youth Training Scheme". endstream endobj 3607 0 obj <>/Metadata 146 0 R/OCProperties<>/OCGs[3629 0 R]>>/Pages 3604 0 R/StructTreeRoot 315 0 R/Type/Catalog>> endobj 3608 0 obj <>/MediaBox[0 0 595.32 841.92]/Parent 3604 0 R/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 3609 0 obj <>stream [117], Agriculture accounted for about 53% of GDP in 1947. Ever since my years of high school, I really have no idea what professors are looking for to give good grades. The wholesale and retail trade is the largest sub-sector of the services. As a result, the country's FX reserve amounted to US$20.8 billion by 4 May 2017 sufficient to finance around four month of import payments. 3606 0 obj <> endobj to PM on Finance and Revenue chaired a meeting CEO JavaScript is disabled. Director SAP (software) called on Adviser to Agricultural reforms, including increased wheat and oil seed production, play a central role in the government's economic reform package. Pakistan in the abyss o f deb t and snatched the eco nomic soverei gnty. Savings AML & CFT Supervisory Board Notification Much like BRI, value of CPEC investments transcends any fiat currency and is only estimated vaguely as it spans over decades of past and future industrial development and global economic influence. Government expenditures were 4,383.6 billion rupees (FY 2016–2017 July to March). It is expected to promote trade, tourism, especially for exports destined for Europe (as Turkey is part of Europe and Asia). GIDC PM on Finance and Revenue 71–80. Collection of Foreign aid has been one of the priorities of almost every Pakistani Government with the Prime Minister himself leading delegations on a regular basis to collect Foreign aid. Agriculture accounts for about 18.9% of GDP and employs about 42.3% of the labour force. Moreover, English is fast spreading in Pakistan, with 18 million Pakistanis[209] (11% of the population)[209] having a command over the English language, which makes it the 3rd Largest English Speaking Nation in the world and the 2nd largest in Asia. Naya [183], However, the impact of high current deficit on foreign exchange reserves was not severe, as financial inflows were available to the country to partially offset the gap; these inflows helped ensure stability in the exchange rate. Notifications/Office Orders, Federal Budget 2017-18, Economic Survey The objective is to establish a single market for goods and services, much like the European Union. Historical data suggest strong correlation between Pakistani exports to imports in OECD and China. Ambassador An annual report that updated by State bank of Pakistan shows Pakistan cross 1 billion ($) IT Export which is a good achievement of Pakistan IT Industry. The economy of Pakistan is the 23rd largest in the world in terms of purchasing power parity (PPP), and 42nd largest in terms of nominal gross domestic product. Recent discoveries of a thick oxidised zone underlain by sulphide zones in the shield area of the Punjab province, covered by thick alluvial cover have opened new vistas for metallic minerals exploration. Total contribution of telecom sector to the national exchequer was RS. You must log in or register to reply here. If you continue browsing the site, you agree to the use of cookies on this website. to PM on Finance and Revenue chaired the 5th [161] Private sector airlines in Pakistan include Airblue, which serves the main cities within Pakistan in addition to destinations in the Persian Gulf and Manchester in the United Kingdom. Participation by regional countries in this summit gives Pakistan another opportunity to show that it is not internationally isolated as India has asserted. [105] Official figures also show that the proportion of households that own a motorcycle and washing machines has grown impressively over the past 15 years. Most of the Textile Industry is established in Punjab. [139] Pakistan has installed capacity of 44,768,250 metric tons of cement and 42,636,428 metric tons of clinker. Share of finished goods and branded articles is nominal. 2019-20, Federal Budget Click here for details, 23-09-2020 [167], The property sector has expanded twenty-threefold since 2001, particularly in metropolises like Lahore. h�,�l�(�ĵ���F����~��9et��Q���h& Adviser The cement sector consisting of 27 plants is contributing above Rs 30 billion to the national exchequer in the form of taxes. Country [160] The government announced a new shipping policy in 2006 permitting banks and financial institutions to mortgage ships. [165] As of 2010, there were five public-owned commercial banks in Pakistan, as well as 25 domestic private banks, six multi-national banks and four specialized banks.[165]. I have always found it hard to meet the requirements of being a student. 3G and 4G was simultaneously launched in Pakistan on 23 April 2014 through a SMRA Auction. Pakistan irrigates three times more acres than Russia. [65], In 2016, the Atlantic Media Company (AMC) of the United States has ranked Pakistan as a relatively stronger economy in the South Asian markets and expected that it will grow rapidly during days ahead. of ECC [116] The foreign exchange reserves had declined more by $10 billion to a level of $6.59 billion. Due to threat of terrorism the number of foreigner tourists has gradually declined and the shock of 2013 Nanga Parbat tourist shooting has terribly adversely effected the tourism industry. [129][130][131] Pakistan is one of the largest manufacturers and exporters of surgical instruments.[132][133]. Click here for details, 11-09-2020 [66], the Pakistan's economy has been characterised as unstable and highly vulnerable to external and internal shocks. PAKISTAN [49] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term. National of ECC [126] Manufacturing is the largest of Pakistan's industrial sectors, accounting for approximately 12.13% of GDP. [113] As of 2016[update] tourism has begun to recover in Pakistan, albeit gradually. Foreign investors do not face any restrictions on the inflow of capital, and investment of up to 100% of equity participation is allowed in most sectors. Procedure for Operation of Assignment Accounts of Federal [57] According to the World Bank, poverty in Pakistan fell from 64.3% in 2002 to 29.5% in 2014. Click here for details, 23-09-2020 The report said that meeting the backlog in housing, besides replacement of out-lived housing units, is beyond the financial resources of the government. Adviser 2019-20, Economic Survey Defence.pk is a one stop resource for Pakistan defence, strategic affairs, security issues, world defence and military affairs. 1583–1599. Separately, consumer financing posted an increase of Rs37.6 billion during first half of the current fiscal year of 2017.