Agriculture Sector: CPEC project contributing to increase private investment in Pakistan
The China-Pakistan Economic Corridor infrastructure projects and a stable macroeconomic environment is contributing to an increase in private investment in Pakistan, a latest World Bank report says, forecasting the economic growth to remain strong. According to the World Bank’s June 2017 Global Economic Prospects, favorable weather and increased cotton prices are supporting agriculture production, and the CPEC infrastructure projects as well as stable macroeconomic environment is contributing to an increase in private investment. Agriculture output rebounded following the end of a drought, while the successful completion of an IMF-supported program enhanced macroeconomic conditions and foreign direct investment, the report note.
Govt releases over Rs100b for NHA under PSDP
The government has released over one hundred billion rupees for the National Highway Authority under Public Sector Development Programme for different projects. These include over sixteen billion rupees for Hakla-DI Khan Motorway, and 4.5 billion rupees for widening and improvement of Hoshab-Nag-Basima-Surab Highway. One hundred million rupees have been released for the construction of 118-km Thakot-Havelian Expressway, 2.2 billion for land acquisition for the project, while 1.5 billion for the construction of Burhan-Havelian Expressway.
CPEC projects to address energy problem: China
With the formal commissioning of its second unit later this month, the Sahiwal power plant will become one of Pakistan’s clean coal power plants with the largest installed capacity of generating 9 billion kWh of electricity per year. The electricity produced by the plant will meet energy needs of nearly 10 million people. The second unit of the plant, with a capacity of 660MW, has been put on a trial run and is likely to be formally inaugurated by the end of this month.
IT Ministry to launch digital skills training programme for free-lancing
Ministry of Information Technology and Telecommunications plans to launch a national level digital skills training programme for free-lancing. According to official sources, over one million individuals will be trained in free-lancing domain and preliminary working has been completed in this regard. Free-lancing is progressing in conventional job markets and it is estimated that by 2020, one in three workers worldwide will be free-lancing online.
WB forecasts 2.7% improvement in global growth this year
World Bank has forecast 2.7 percent improvement in global growth this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices. According to the Bank's global forecast, advanced economies are showing signs of improvement, especially that of Japan and Europe.
Host: Sajid Farooq
Co-host: Tanvir Hussain