Pakistan economy on recovery path as growth rate improves to 3.5pc
Business
Pak economy on recovery path as growth rate improves to 3.5pc
ISLAMABAD (Dunya News) – Pakistan's economy is on the path of recovery as the growth rate is showing improvement.
The economy showed positive signs of improvement during the current financial year of 2024 compared to the corresponding year.
Various sectors of the economy including production sector showed an improvement of 14 per cent, diesel sales 11 per cent, cement sector sales 45 per cent, urea sales 49 per cent and auto sector 18pc.
The overall Pakistani exports rose by 1.15 per cent to $2.40 billion compared to the lasy financial year.
The Pakistan Petroleum Limited recorded a significant growth of 42 per cent, cotton production grew by 72 per cent, wheat production reached 28 million tons while the rice production is likely to touch 9 million ton mark.
On the other hand, the value of dollar depreciated against rupee by more than Rs50 while the deportation of illegal citizens also strengthened the economy.
Read more: Pakistan's economy to touch $1tr by 2035: Ahsan Iqbal
The trade deficit has also decreased by 48.2 per cent while on account of foreign exchange Pakistan is likely to save around $5 billion.
