Pakistan Economy Thread
- Thread starter timepass
- Start date
timepass
Brigadier
According to Pakistan's Space and Upper Atmosphere Research Commission (SUPARCO), the 1,200-kg mass satellite PRSS-1 will operate in sun-synchronous orbit at an altitude of 640 km.
The satellite is equipped with a high resolution optical payload that will enable Pakistan to meet its imagery requirements in the areas of land mapping, agriculture classification and assessment, urban and rural planning, environmental monitoring, natural disaster management and water resource management for socio-economic development of the country.
The satellite is equipped with a high resolution optical payload that will enable Pakistan to meet its imagery requirements in the areas of land mapping, agriculture classification and assessment, urban and rural planning, environmental monitoring, natural disaster management and water resource management for socio-economic development of the country.
timepass
Brigadier
Another LNG Power Plant milestone achieved....
Pakistan's third R-LNG based Balloki Power Plant 1223 MW has been completed and expected to start its commercial operation in the last week of the July 2018.
Four power projects(6036 MW) namely 1230 MW at Haveli Bahadar Shah District Jhang, 1180 MW at Bhikki district Sheikhupura, 1223 MW at Balloki district Kasur and 1263 MW at Trimmu Barrage District Jhang. Among four, two projects of 2410 MW located at Bhikki and Haveli Bahadar Shah have already been completed and linked to the national grid.
Pakistan's third R-LNG based Balloki Power Plant 1223 MW has been completed and expected to start its commercial operation in the last week of the July 2018.
Four power projects(6036 MW) namely 1230 MW at Haveli Bahadar Shah District Jhang, 1180 MW at Bhikki district Sheikhupura, 1223 MW at Balloki district Kasur and 1263 MW at Trimmu Barrage District Jhang. Among four, two projects of 2410 MW located at Bhikki and Haveli Bahadar Shah have already been completed and linked to the national grid.
timepass
Brigadier
Pakistan's Space and Upper Atmosphere Research Commission (SUPARCO) Indigenously developed the Pak Technology Evaluation Satellite (PakTES-1A) from concept to Launch.
timepass
Brigadier
timepass
Brigadier
The size of Pakistan’s economy stood at $313.13 billion at the end of June, 2018....
According to provisional figures released on Thursday by the country’s central bank, as a weaker currency took toll on gross domestic product (GDP) in dollar terms.
Pakistan’s GDP stood at $304.97 billion at the end of June, 2017, and the economy registered a 13-year high GDP growth rate of 5.8% in FY18. That said, the size of the economy shrunk in dollar terms as the rupee weakened against the greenback in four separate rounds since December 2017, with a 5.8% growth rate effectively reduced to 2.7%.
ADB says ‘no need to panic’ over Pakistan’s economy
The State Bank of Pakistan (SBP) used a period average month-to-month exchange rate to calculate the GDP, which according to calculations came to around Rs108 to the US dollar. With the rupee having weakened further, the size of the economy is likely to have shrunk even more in dollar terms. The currency is currently hovering around the Rs128-mark as depleting foreign exchange reserves and a widening current account deficit create a headache for economic managers that are at a loss to save the country from a balance of payments crisis.
The SBP has already increased the key interest rate by 175 basis points since January, taking it to 7.5% to tackle increasing inflationary pressure in the months to come.
Additionally, the 5.8% growth registered during FY18 is also not enough for a developing economy like Pakistan to absorb the number of job seekers that pile up each year. According to experts and global financial institutions, Pakistan needs at least 7% growth to create enough jobs and tame rising unemployment. However, the country is likely to face a slowdown in growth during the ongoing fiscal year as tighter policies to improve macroeconomic stability have a negative impact.
Ratings agencies, Moody’s and Fitch, have already lowered their forecast for Pakistan’s GDP growth, while the World Bank has also suggested that it will slow down to near 5% in FY18.
According to additional figures released by the SBP, Pakistan’s current account deficit stood at $17.99 billion in FY18, translating to 5.7% of GDP and more than twice than the government’s own estimates.
According to provisional figures released on Thursday by the country’s central bank, as a weaker currency took toll on gross domestic product (GDP) in dollar terms.
Pakistan’s GDP stood at $304.97 billion at the end of June, 2017, and the economy registered a 13-year high GDP growth rate of 5.8% in FY18. That said, the size of the economy shrunk in dollar terms as the rupee weakened against the greenback in four separate rounds since December 2017, with a 5.8% growth rate effectively reduced to 2.7%.
ADB says ‘no need to panic’ over Pakistan’s economy
The State Bank of Pakistan (SBP) used a period average month-to-month exchange rate to calculate the GDP, which according to calculations came to around Rs108 to the US dollar. With the rupee having weakened further, the size of the economy is likely to have shrunk even more in dollar terms. The currency is currently hovering around the Rs128-mark as depleting foreign exchange reserves and a widening current account deficit create a headache for economic managers that are at a loss to save the country from a balance of payments crisis.
The SBP has already increased the key interest rate by 175 basis points since January, taking it to 7.5% to tackle increasing inflationary pressure in the months to come.
Additionally, the 5.8% growth registered during FY18 is also not enough for a developing economy like Pakistan to absorb the number of job seekers that pile up each year. According to experts and global financial institutions, Pakistan needs at least 7% growth to create enough jobs and tame rising unemployment. However, the country is likely to face a slowdown in growth during the ongoing fiscal year as tighter policies to improve macroeconomic stability have a negative impact.
Ratings agencies, Moody’s and Fitch, have already lowered their forecast for Pakistan’s GDP growth, while the World Bank has also suggested that it will slow down to near 5% in FY18.
According to additional figures released by the SBP, Pakistan’s current account deficit stood at $17.99 billion in FY18, translating to 5.7% of GDP and more than twice than the government’s own estimates.
timepass
Brigadier
Locally Assembled Hyundai Cars Will Go on Sale in March 2020.....
Hyundai will launch 7,000 units of its locally assembled vehicles in Pakistan in March 2020.
Hyundai will launch its locally assembled cars in Pakistan in March 2020. The South Korean company is currently setting up a 66-acre assembly plant in Faisalabad, after partnering with local conglomerate Nishat Group.
Hyundai shared its operational plan with the Faisalabad Industrial Estate Development and Management Company (FIEDMC) recently, announcing the date to launch its vehicles. The FIEDMC oversees activities that are being carried out in the special economic zone of Faisalabad.
Coming in March 2020
Speaking to the local media, Chief Operating Officer (COO) FIEDMC, Aamir Saleemi, said that Hyundai will launch its vehicles in Pakistan by March 2020.
The Japanese-dominated industry is set to see a transformation. Hyundai cars will roll out in March 2020. The company plans to produce 7,000 units in its first year.
Saleemi added that the company will increase its production capacity to 22,000 within three years of launch.
Several globally renowned companies have announced to start their operations in Pakistan after the country announced its auto policy 2016-21. Kia and Renault will also set up their assembly plants in Pakistan to roll out vehicles in the coming years. Hyundai has so far invested $150 million in Pakistan while the total foreign investment stood at $2.76 billion in the financial year 2018.
Talking about the policy, Saleemi told,
The incentives and concessions offered under the auto policy have created a favorable environment.
He continued saying that Hyundai will bring new technology to produce fuel-efficient cars to increase its market domination. Teams from Hyundai have started surveying to select the most suited locations for its showrooms as well.
Hyundai will launch 7,000 units of its locally assembled vehicles in Pakistan in March 2020.
Hyundai will launch its locally assembled cars in Pakistan in March 2020. The South Korean company is currently setting up a 66-acre assembly plant in Faisalabad, after partnering with local conglomerate Nishat Group.
Hyundai shared its operational plan with the Faisalabad Industrial Estate Development and Management Company (FIEDMC) recently, announcing the date to launch its vehicles. The FIEDMC oversees activities that are being carried out in the special economic zone of Faisalabad.
Coming in March 2020
Speaking to the local media, Chief Operating Officer (COO) FIEDMC, Aamir Saleemi, said that Hyundai will launch its vehicles in Pakistan by March 2020.
The Japanese-dominated industry is set to see a transformation. Hyundai cars will roll out in March 2020. The company plans to produce 7,000 units in its first year.
Saleemi added that the company will increase its production capacity to 22,000 within three years of launch.
Several globally renowned companies have announced to start their operations in Pakistan after the country announced its auto policy 2016-21. Kia and Renault will also set up their assembly plants in Pakistan to roll out vehicles in the coming years. Hyundai has so far invested $150 million in Pakistan while the total foreign investment stood at $2.76 billion in the financial year 2018.
Talking about the policy, Saleemi told,
The incentives and concessions offered under the auto policy have created a favorable environment.
He continued saying that Hyundai will bring new technology to produce fuel-efficient cars to increase its market domination. Teams from Hyundai have started surveying to select the most suited locations for its showrooms as well.