Pakistan Economy Thread
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Brigadier
IT infrastructure in Pakistan is improving dramatically with foreign and domestic investments into fixed-line and mobile networks. Technology is a growing field in Pakistan and has played a vital role in the development of the economy in recent years.
Keeping in view the booming IT sector, it is heartening to see the government focusing on IT parks and infrastructure!
Keeping in view the booming IT sector, it is heartening to see the government focusing on IT parks and infrastructure!
timepass
Brigadier
Poverty level dropped 24.3%....
Report confirmed significant improvement compared with the situation prevailing five years ago’
The government on Thursday claimed that the poverty level in declined to 24.3% during the third year of the ruling party, according to the Economic Survey of Pakistan 2017-18.
However, it blocked the release of province based data of poverty reduction due to steep decline in poverty in Khyber Pakhtunkhwa.
Pakistan Muslim Leauge-Nawaz (PML-N) led federal government published the poverty statistics for the fiscal year 2015-16 in the Economic Survey of Pakistan 2017-18, which was launched by Advisor to Prime Minister on Finance Dr Miftah Ismail.
The survey showed that 10.8 million people were lifted out of extreme poverty in 2015-16. Moreover, four out of every ten Pakistanis are officially considered poor as against three out of every ten Pakistanis who were considered poor four years ago.
In absolute terms, 50.4 million are now being recognised as poor against the previous figure of 60.2 million.
The percentage of people living below poverty line has declined from 29.5% in 2013-14 to 24.3% in 2015-16, according to the survey. There was a decline of 5.2% in the poverty within two years. Over the last decade, Pakistan’s poverty headcount has witnessed a persistent decline both at national and regional levels, it added.
Report confirmed significant improvement compared with the situation prevailing five years ago’
The government on Thursday claimed that the poverty level in declined to 24.3% during the third year of the ruling party, according to the Economic Survey of Pakistan 2017-18.
However, it blocked the release of province based data of poverty reduction due to steep decline in poverty in Khyber Pakhtunkhwa.
Pakistan Muslim Leauge-Nawaz (PML-N) led federal government published the poverty statistics for the fiscal year 2015-16 in the Economic Survey of Pakistan 2017-18, which was launched by Advisor to Prime Minister on Finance Dr Miftah Ismail.
The survey showed that 10.8 million people were lifted out of extreme poverty in 2015-16. Moreover, four out of every ten Pakistanis are officially considered poor as against three out of every ten Pakistanis who were considered poor four years ago.
In absolute terms, 50.4 million are now being recognised as poor against the previous figure of 60.2 million.
The percentage of people living below poverty line has declined from 29.5% in 2013-14 to 24.3% in 2015-16, according to the survey. There was a decline of 5.2% in the poverty within two years. Over the last decade, Pakistan’s poverty headcount has witnessed a persistent decline both at national and regional levels, it added.
timepass
Brigadier
France’s establishes car plant in - Pakistan....
French automaker Renault will establish its car manufacturing plant in Faisalabad..
Chief of Groupe Renault said that the company will get 54 acres of land in Faisalabad in a few days where a car assembling plant with a planned investment of US $140 million will be established.
He added that the land is cheaper here with all the facilities readily available for the industrialists.
Bin Qasim Industrial Park is located on Main National Highway under National Industrial Parks Development & Management Company (NIP). The NIP was established as a special initiative of the Ministry of Production.
Groupe Renault and Al-Futtaim last November announced that they had signed definitive agreements for the exclusive assembly and distribution of Renault vehicles in Pakistan.
According to the deal, Groupe Renault would bring its latest products and technological know-how, whilst Al-Futtaim, through its new subsidiary called Al-Futtaim Automotive Pakistan (Private) Limited, will establish a new manufacturing and assembly plant, and exclusively distribute Renault cars through its extensive knowledge of the market.
As per the agreement, the parties expected that the plant will be built as per Groupe Renault standards and car sales are planned to start in 2019 ramping up in 2020...
French automaker Renault will establish its car manufacturing plant in Faisalabad..
Chief of Groupe Renault said that the company will get 54 acres of land in Faisalabad in a few days where a car assembling plant with a planned investment of US $140 million will be established.
He added that the land is cheaper here with all the facilities readily available for the industrialists.
Bin Qasim Industrial Park is located on Main National Highway under National Industrial Parks Development & Management Company (NIP). The NIP was established as a special initiative of the Ministry of Production.
Groupe Renault and Al-Futtaim last November announced that they had signed definitive agreements for the exclusive assembly and distribution of Renault vehicles in Pakistan.
According to the deal, Groupe Renault would bring its latest products and technological know-how, whilst Al-Futtaim, through its new subsidiary called Al-Futtaim Automotive Pakistan (Private) Limited, will establish a new manufacturing and assembly plant, and exclusively distribute Renault cars through its extensive knowledge of the market.
As per the agreement, the parties expected that the plant will be built as per Groupe Renault standards and car sales are planned to start in 2019 ramping up in 2020...
timepass
Brigadier
...
KARACHI:
The number of broadband subscriptions in Pakistan has reached 56 million, which is 27.5% of the country’s 200 million population, revealed March-end data of the Pakistan Telecommunication Authority (PTA).
KARACHI:
The number of broadband subscriptions in Pakistan has reached 56 million, which is 27.5% of the country’s 200 million population, revealed March-end data of the Pakistan Telecommunication Authority (PTA).
timepass
Brigadier
...
RAWALPINDI:
The National Logistics Cell (NLC) has signed a memorandum of understanding (MoU) with Daimler AG -the German automotive corporation that owns Mercedes-Benz – for the local assembly and production of Mercedes‐Benz trucks in Pakistan.
RAWALPINDI:
The National Logistics Cell (NLC) has signed a memorandum of understanding (MoU) with Daimler AG -the German automotive corporation that owns Mercedes-Benz – for the local assembly and production of Mercedes‐Benz trucks in Pakistan.
timepass
Brigadier
..
ISLAMABAD:
Pakistan has proposed 5% tax on digital revenues, hitting US tech giants like Google, Amazon and Facebook, while also moving to bring offshore-controlled companies in its tax ambit in an apparent attempt to tax Chinese earnings from the country.
ISLAMABAD:
Pakistan has proposed 5% tax on digital revenues, hitting US tech giants like Google, Amazon and Facebook, while also moving to bring offshore-controlled companies in its tax ambit in an apparent attempt to tax Chinese earnings from the country.
timepass
Brigadier
automaker KIA is in process of making its comeback in Pakistan.
This time partnered with Lucky Cement group, the Kia-Lucky venture had already signed an agreement with the Ministry of Industries and Production. According to which, production of light commercial and passenger vehicles will take place in Pakistan under Automotive Development Policy 2016-2021.
Reportedly the manufacturing and assembling facilities will be functional in the year 2019/20. However KIA vehicles will be available for purchase to car buyers in Pakistan as KIA-Lucky will start importing cars in 2018.
KIA Pakistan’s website was launched in March 2018, and one can see Pakistan among the listed countries in Asia Pacific region. Kia vehicles have been spotted testing in Pakistan numerous times already, with Sportage SUV, Grand Carnival van, Rio subcompact and Picanto hatchback making frequent appearances on public roads.
Now interestingly, Kia Pakistan website is updated with an addition to the range of vehicles. This includes the Cerato sedan, Niro hybrid crossover, Stinger fastback and the K-series 1-ton commercial loader.
It is yet unclear which vehicles will be assembled locally and which will be available as CBU import, however the product portfolio does look impressive and will open doors to some long-awaited healthy competition in our market.
This time partnered with Lucky Cement group, the Kia-Lucky venture had already signed an agreement with the Ministry of Industries and Production. According to which, production of light commercial and passenger vehicles will take place in Pakistan under Automotive Development Policy 2016-2021.
Reportedly the manufacturing and assembling facilities will be functional in the year 2019/20. However KIA vehicles will be available for purchase to car buyers in Pakistan as KIA-Lucky will start importing cars in 2018.
KIA Pakistan’s website was launched in March 2018, and one can see Pakistan among the listed countries in Asia Pacific region. Kia vehicles have been spotted testing in Pakistan numerous times already, with Sportage SUV, Grand Carnival van, Rio subcompact and Picanto hatchback making frequent appearances on public roads.
Now interestingly, Kia Pakistan website is updated with an addition to the range of vehicles. This includes the Cerato sedan, Niro hybrid crossover, Stinger fastback and the K-series 1-ton commercial loader.
It is yet unclear which vehicles will be assembled locally and which will be available as CBU import, however the product portfolio does look impressive and will open doors to some long-awaited healthy competition in our market.