Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, April 23, 2018 07:30:27 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

SNIPPETS

Pakistan could become 16th largest economy by 2050 : PwC

By
23rd-Mar-2017       
Comments
Share your thought
Post a comment »
Read all () »

Pakistan's economy could become the 16th largest by 2050 based on its Gross Domestic Product (GDP) at Purchasing Power Parity (PPP), said a report released in February 2017, prepared by PricewaterhouseCoopers (PwC), a multinational professional services network headquartered in London and considered among the 'Big Four' auditors.
This means the country would overtake Italy and Canada, which currently rank at 12th and 17th places, respectively. On the basis of PPP, Pakistan would climb from its current 24th place (with GDP at PPP amounting to $988bn) to 20th place ($1.87tr) by 2030 and to 16th place ($4.2tr) by 2050. In terms of GDP at real market exchange rate (MER), Pakistan's economy is projected to rise from 28th place ($284bn) at present to 27th by 2030 ($776bn) and to 19th ($2.8tr) by 2050.
 Work on TAPI pipeline to kick off in Pakistan this month: Work on the long-awaited Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline kicked off in Pakistan in February 2017, as Tapi Company, which has the mandate to run the pipeline, has awarded the Project Management Consultant (PMC) contract to the German firm ILF.
Turkmenistan, Afghanistan, Pakistan and India signed a $10-billion investment agreement for the Tapi pipeline in a bid to kick off activities, update feasibility study and finalise pipeline route in Afghanistan.
Leaders of the four countries performed the ground-breaking of the project in December 2015, which would help ease energy deficiency in South Asia.
According to the agreement, Turkmenistan will invest around $25 billion to deliver 3.2 billion cubic feet of gas per day (bcfd) to energy-hungry Afghanistan, Pakistan and India.
Of the total, $15 billion will be invested in developing the gas field whereas $10 billion will be poured into laying the pipeline over 1,680 km connecting Afghanistan, Pakistan and India with Turkmenistan.
A consortium of Japanese companies was working on a fast-track basis to develop the gas field in Turkmenistan.
A gas sale and purchase agreement had already been inked in 2013 to set the pricing mechanism under which the gas price at Turkmenistan border would be around 20% cheaper than the price of Brent crude.
Pakistan and India will receive 1.325 bcfd of gas each while Afghanistan will get 500 mmcfd.
KSE Index has soared to 500% leaving China, India far behind: Pakistan's stock market has been red hot in recent years as it has become a lucrative market for the investors and its main KSE index has soared close to 500 percent since 2009, and 56 percent in the last twelve months-leaving neighbouring markets in India and China far behind, Forbes Magazine stated.
Pakistan's stock market rally has been driven by a number of favorable economic fundamentals, such as an improving macroeconomic environment-rising economic growth and falling inflation and interest rates. The country's economy grew close to 6 percent in 2016, up from 4.8 percent in 2015, with inflation running around 4 percent, down from 10 percent four years ago. And the 10 year Treasury bond is yielding 8 percent, down from 12.5 percent four years ago.
Then there are a couple of overseas endorsements for Pakistan's market reforms. Like $1 billion in support from the World Bank, a spike in domestic acquisitions from foreign suitors, and the inclusion of Pakistan's market into MSCI's emerging market index.Adding to these fundamentals is investor hype about the potential of the Pakistani economy which could take the equity market much higher.
Pakistan's GDP growth expected at 4.9%: Moody's
The China-Pakistan Economic Corridor (CPEC) will boost economic activities in Pakistan and the economic growth is expected to be 4.9% during the current fiscal year, says a report by international ratings agency Moody's Corporation.
Pakistan's annual economic progress has not touched 5% in more than a decade, but chances of achieving this reading are high this year owing to CPEC.
According to Moody's, CPEC will boost economic activities, increase industrial production and push development work. The report also praised the banking system of Pakistan, saying that banking strength of the country would result in further progress in the next fiscal year 2017-18.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Govt must answer what happened to the force disappearances


MEMBERS of around 80 families joined a programme under the banner of "Mayer Daak", a platform of disappearance victims' family members, from across the country on April 21st, as per report of a local daily. Speaking at the event, supported by rights activists, family members slammed the state for denying ...

Entertainment »

Alia Bhatt spies on movie goers


Raazi trailer was launched recently. Last week, in partnership with FB & PVR, Alia spied on theatre audiences watching the trailer on the theatre screen and appeared on a two-way facebook LIVE in front of them and interacted with the audience as they could both see each other. This was ...

Football »

Neymar to be at peak of powers at World Cup: Ronaldinho


Xinhua, Rio De Janeiro :Brazil legend Ronaldinho has backed compatriot Neymar to make a full recovery from foot surgery in time for the World Cup in Russia.Neymar has been sidelined since suffering a cracked fifth metatarsal in his right foot while playing for Paris Saint-Germain in late February.He underwent surgery ...

International »

Iran threatens to `vigorously` resume enrichment if US quits deal


AFP, New York : Iran warned Saturday it is ready to "vigorously" resume nuclear enrichment if the United States ditches the 2015 nuclear deal, and said further "drastic measures" are being considered in response to a US exit.Iranian Foreign Minister Mohammad Javad Zarif told reporters in New York that Iran ...

Football »

Chanathip Songkrasin (left) of Consadole Sapporo and Kazuki Nagasawa (right) of Urawa Reds fight for the ball during their J1 League match at Saitama Stadium in Saitama, north of Tokyo on Saturday.


Sports »

Kvitova, Pliskova give Czechs 2-0 lead over Germany


AFP, Stuttgart :Victories by Petra Kvitova and Karolina Pliskova gave the Czech Republic a commanding 2-0 lead over hosts Germany in their Fed Cup semi-final on Saturday. Two-time Wimbledon champion Kvitova needed just over an hour for an emphatic 6-3, 6-2 win over Julia Goerges at the Porsche Arena in ...

Entertainment »

Salman, Katrina all set to leave for tour to USA in June


Salman Khan is one of Bollywood's biggest superstars and over the years he has made a brand out of himself. Everything from his dance moves, clothes, accessories to his attitude and body language is a rage among his fans. Salman was recently proven guilty in the 1998 Blackbuck poaching case. ...

Entertainment »

Shahid to shoot for Batti Gul Meter Chalu


Shree Narayan Singh's Batti Gul Meter Chalu is a social drama that depicts the contradiction between long hours of power cuts and the ironically high electricity bills that dig a hole in the common man's pocket. It narrates the story of a man's fight against power distribution companies. Shahid Kapoor ...

City »

BNP Secretary General Mirza Fakhrul Islam Alamgir speaking at a press conference at the party central office in the city's Nayapalton on Saturday with call to admit party Chairperson Begum Khaleda Zia in the city's United Hospital for her proper treatment.


Editorial »

Enforce counter-trafficking law


NONE of over 3,500 cases filed under the counter-trafficking law across the country has disposed of since the formulation of the act. It has left the victims and their families in utter frustration. They are also deprived of getting remedy and compensations. Whereas the perpetrators are threatening them to withdraw ...

International »

Thousands of students to walkout across US in call for gun reform


Reuters, Colorado : Thousands of students again walked out of classes across the United States on Friday, marking the 19th anniversary of the massacre at Columbine High School with a show of unity aimed at pressuring politicians to enact tighter gun restrictions.Students from more than 2,600 schools and institutions planned to ...

Editorial »

No law can restrict freedom of speech


EDITORS' COUNCIL, an organisation of editors of the country's national dailies, has recently expressed grave concern over Section 21, 25, 28, 31, 32, and 43 of the Proposed Digital Security Act. It said the sections would greatly obstruct freedom of speech and independent journalism. However, responding to the concern the ...

Football »

Manchester United`s Paul Pogba (second right) and Bournemouth's Steve Cook battle for the ball, during the English Premier League soccer match between Bournemouth and Manchester United, at the Vitality Stadium in Bournemouth, England on Wednesday.


.

City »

General Secretary of Bangladesh Sarak Paribahan Sramik Federation Osman Ali, among others, at a rally of labourers in Swadhinata auditorium of DRU on Friday demanding implementation of five thousand CNG registration allocated for drivers.


.

Entertainment »

Anny pairs up with Zahid Hasan for first time


Entertainment Report :Popular actress and model of present time Anny Khan for the first time paired up with National Film Award winner actor and director Zahid Hasan in a drama serial.Zahid Hasan is acting in the title role in the serial. Viewers will watch a new role Zara in the ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news