Save my name, email, and website in this browser for the next time I comment. On the other hand, positive growth in LSM was observed in fertilizer (5.81pc), leather products (4.96pc), rubber products (4.31pc) and paper & board (4.23pc). The sector was earlier projected to register record gains. Electricity and gas sub sector grew by 17.70pc mainly due to higher subsidies and better value addition in WAPDA companies, whereas construction activity increased by 8.06pc mainly due to an increase in general government expenditure. Copyright © 2020. Pakistan gdp … The services sector, which has remained Pakistan’s major growth driver for years, witnessed a rare contraction of 0.59pc in the provisional estimates, while the wholesale and retail trade sector contracted by 3.42pc, and transport, storage and communication sector saw a negative growth of 7.13pc. The value added mining and quarrying sector declined by 8.82pc, while large scale manufacturing (LSM) sector, which is driven primarily by QIM data (from July 2019 to March 2020), showed a decline of 7.78pc. This increase was due to an uptick in the production of wheat, rice and maize at 2.45pc, 2.89pc and 6.01pc, respectively. Other crops (onion, potato, vegetables etc.)

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However, cotton, and sugarcane crops witnessed a negative growth of 6.92pc and 0.44pc, respectively. “The provisional estimates of the GDP and Gross Fixed Capital Formation (GFCF) for the year 2019-20 were presented on the basis of latest data of 6-9 months, which were annualized by incorporating the impact of Covid-19 for the final quarter,” said a statement issued on Monday. Editors: Zaman Khan I Jawad Zulfiqar I Muhammad Faran Bukhari l Abdullah Niazi I Mariam Zermina I Ahmad Saad I The Gross Domestic Product (GDP) in Pakistan expanded 5.79 percent in fiscal year 2017/18, ending in June 2018. The remaining components of services i.e. showed a positive growth of 4.57pc mainly due to an increase in the production of pulses, oil seeds and vegetables. The rising economic power of Pakistani women, Foodpanda Pakistan shortlists three agencies for media strategy development, Pakistan set to launch ‘its own version of Netflix’, says Fawad…, Punjab labour dept to develop mobile app for registration of small…, PayPal to allow cryptocurrency buying, selling and shopping on its network, Pandemic speeds labour shift from humans to robots, NEPRA defers decision to increase power tariff, NEPRA likely to approve Rs1.36 per unit hike in power tariff, FPCCI urges OGRA to reject proposal for gas tariff hike, PM likely to announce energy relief for industrial sector. Pakistan's GDP expected to contract by 0.4% in 2020 and grow by 2.0% in 2021 – ADO 2020 Update Pakistan's inflation rates forecasted at 10.7% in 2020 and 7.5% in 2021 – ADO 2020 Update GDP growth Meanwhile, the country’s industrial sector witnessed a negative growth of 2.64pc mainly because of the imposition of corona-related lockdown. Similarly, the livestock sector registered a growth of 2.58pc owing to a lower in demand for dairy and poultry post coronavirus. Pakistan’s gross domestic product (GDP) growth was 5.53 percent in 2018 after adjusting for inflation. The situation could get much worse if the pandemic lingers into the second half of the year or resurges. Major decline was observed in textile (-2.57pc), food, beverage & tobacco (-2.33pc), coke & petroleum products (-17.46pc), pharmaceuticals (-5.38pc), chemicals (-2.30pc), automobiles (-36.5pc), iron & steel products (-7.96pc), electronics (-13.54pc), engineering products (-7.05pc), and wood products (-22.11pc). Pakistan Today. According to the planning ministry, GDP at current market prices has been computed and stands at Rs41,727 billion for 2019-20. Reporters: Meiryum Ali I Ariba Shahid I Babar Khan Javed I Taimoor Hassan l Hassan Naqvi l Shahab Omer I Syeda Masooma l Ghulam Abbass l Ahmad Ahmadani l Shehzad Paracha l Aziz Buneri I housing, general government and other private services witnessed a positive growth of 4.02pc, 3.92pc and 5.39pc, respectively. This shows a growth of 9.9pc over Rs37,972 billion for 2018-19. Before the spread of Covid-19 across Pakistan, the finance ministry and the IMF had projected 2.4pc GDP growth in the current fiscal year. The GDP value of Pakistan represents 0.23 percent of the world economy. GDP growth rate in Pakistan averaged 4.92 percent from 1952 until 2018, reaching an all-time high of 10.22 percent in 1954 and record low of 1.80 percent in 1952 and 2020 … During the 102nd NAC meeting, which was chaired by Planning Secretary Zafar Hasan, it was formed that the provisional GDP growth for the year 2019-20 has been estimated at -0.38pc, based upon growth estimates of agricultural, industrial and services sectors. It is pertinent to mention that the country would witness a negative growth in its economy the first time since 1951 largely due to the coronavirus pandemic. GDP Growth Rate in Pakistan averaged 4.92 percent from 1952 until 2018, reaching an all time high of 10.22 percent in 1954 and a record low of -1.80 percent in 1952.
The NAC was informed that the agriculture sector grew by 2.67pc; growth of important crops during this year was 2.90pc. Forestry grew 2.29pc due to an increase in the production of timber. “The smart lockdown policy adopted by the government minimised the impact on economic growth compared to compete lockdown situation.”. For a few countries where the official exchange rate does not reflect the rate effectively … The pandemic outbreak has played a havoc with world markets, with the IMF estimating the world economy to contract by 3pc this year – the most severe downturn since the Great Depression in the 1930s. Pakistan to witness negative GDP growth after 68 years.

ISLAMABAD: The National Accounts Committee (NAC) has estimated the country’s Gross Domestic Product (GDP) growth rate at -0.38pc for the current financial year (FY20). HBL represents Pakistan at Shanghai Cooperation Organisation Interbank Association meeting, NA extends CPEC Authority Ordinance for another four months, KP PDWP approves 35 projects worth Rs56bn, Pioneer Cement posts Rs40m loss for 1QFY21, Naveena Steel aims to build a modern Pakistan, Ravi Textile Mills to be acquired by steel mill owners, EFG Hermes is accumulating shares in Kohinoor Industries, Minority shareholders revolt at Merit Packaging.

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