Foreign investors looking towards Pakistan as a growing and lucrative market- Analysts
Financial indicators published in ‘The Economist magazine’ suggest that Pakistan is the fastest growing Muslim economy of the world
Pakistan set to become fastest growing Muslim economy in 2017
Pakistan’s estimated GDP growth – 5.3% – is also ahead of 4% GDP growth of Israel. This makes Pakistan world’s fifth fastest-growing economy in the world, only behind India and China and two other countries. The live data, which is updated twice-daily, is published on The Economist website in the form of an interactive table of economic and financial indicators. This data reinforces a Harvard University study which predicted Pakistan to grow by more than 5% in the next decade. The 2017 forecast of 5.3% growth is, however, lower than the 2016’s 5.7% forecasted growth rate, which means Finance Minister Ishaq Dar must take steps to put economy on the path of irreversible growth. In 2014, The Economist had forecasted Pakistan to be world’s sixth fastest-growing country.
Analysts live on Phone:
Asfanyar Bhandara (Member Parliamentary Committee on CPEC):
Our economy has depth and space for improvement. Previous governments have not paid any attention to it. The incumbent government is working on CPEC. If peace and security in the country is maintained, we can increase our GDP up to 7%. Pakistan’s army is playing major role in peace and tranquility in the country. Pakistan wants to include all regional countries in CPEC. Our coming generations will benefit from this project. The local exporter should increase quality of their products to meet international standards.
Dr. Mirza Ikhtiyar Baig (Economic Expert):
The growth in Pakistan has increased. Operation Zarb-e-Azb has also restored confidence of investors. Many global economic institutions have appreciated the performance of our economy. The global attention is shifting towards Pakistan.
Dr. Shahid Hassan Siddique (Economic Expert):
After three years, Pakistan has got out of IMF program. The current government had a policy to increase growth rate. The previous governments made false promises about economic progress. CPEC is playing significant role in economic turnaround in the country. The last government performed below the expectations. Still, tax collection is not increasing in Pakistan.
Dr. Manzoor Afridi (Economic Expert):
Pakistanis are performing wonderfully in different fields. Our economy is moving forward because of peace and security in the country. Foreign investors are also looking towards Pakistan as a lucrative market. These are outcomes and results of democracy and credit goes to civilian governments. CPEC is a gigantic project and it will change the fate our country. Foreign companies from UK, Turkey, and Arab countries are taking interest in investment in Pakistan. Companies from Central Asian countries are also willing to invest in Pakistan. The country is moving towards betterment.
Dr. Noor Fatima (Economic Expert):
The Economist is few the magazines which is quoted and used in research publications. The gas and electricity load shedding has decreased and our GDP has increased. CPEC is also playing a key role in economic development of Pakistan. We have a huge young population which can be trained and used in different projects. The more foreign reserves you have, the better impact it would have on economic development of the country.
Host: Dr. Sajjad Bukhari