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PAKISTAN’S ECONOMIC RECOVERY - PROSPERITY OUTLOOK - 2012 UPDATES

• Pakistan inflation rate reduced from 25.33% in August of 2008, to 11% in October 2011. 
• GDP grew from $163.89 billion in 2008 to $204.1 billion in 2011. While the GDP growth rate on an average remained from 2.5% to 3% during the same period.
• Gross National Income in PPP (purchase power parity) dollars rose from $429.877 billion in 2008 to $488 billion in 2011. 
• Market capitalization of listed companies (% of GDP) grew from 14.33% in 2008 to 21.84% in 2010. And per capita income also grew to $1,254 a year in June from $1,073 three years ago.

Other recent developments include: 

• With bumper wheat crop expected this season, estimated wheat export of 2 million tons could yield $ 500 million in FY12.
• Branchless Banking network in Pakistan expanded by 16 percent in the second quarter (October- December 2011) of current fiscal year.
• Karachi Stock Exchange (KSE 100) surpassed 13,000 mark and is on its way up to new recent highs. 
• Exports in February 2012 grew by 4.15 percent to $2.034 billion as compared with January 20012.
• Securities and Exchange Commission of Pakistan registered 353 companies in February with 5 foreign from US, France, UK, Spain & South Korea.
• Automobile industry in Pakistan has registered a 12 % year-on-year (Y-o-Y) growth in February as compared with the same month last year.
• Overseas Pakistanis remitted $8,592.79 million in first 8 months (July 2011–February 2012) of the current fiscal, a growth of 23.40%.
• FFC Energy Limited is all set to begin generation of 50MW wind energy for the first time in Pakistan in June this year.
• Exports of fish and fish preparations increased by 15.27 % during the first seven months of the current financial year 2011/12.
• Scheduled banks’ investment witnessed growth of 43 percent or Rs 1,833 billion in the first two months of 2012.
• Food exports increased by 4.89 percent during the first seven months of the current fiscal year to reach $2.241 billion.
• Pakistan has started importing 70MW electricity from Iran to meet the electricity demand of Makran division.
• Foreign direct investment (FDI) in Pakistan reached $593.9 million mark during the first 7 months (July-January) of current fiscal year.
• Securities and Exchange Commission of Pakistan registered 356 companies, including 5 foreign, in January, 31 % higher than previous month.
• Car sales rose 17% in the first seven months of fiscal 2012.
• Exports of surgical goods from the country during the first half of current financial year increased by 19.17 percent.
• Record yield of 19 million tonnes wheat, 3.3 million tonnes rice and 43 million tonnes sugarcane resulted in Punjab in 2010-11.
• Rice exports from Pakistan, world’s largest basmati rice producer, is expected to increase by 32 % to 3.7 million tons in 2011/12.
• Overall total tax collection in first 7 months of current fiscal year stood at Rs964 billion, registering a growth by 25 %.
• Food exports have increased by 17.58 percent during the first half of current fiscal year as against the same period of last year.
• Exports of fish and fish preparations increased by 16.48 percent during the first half of the current fiscal year.
• Economic Coordination Committee in view of surplus sugar in the country on Tuesday allowed export of 100,000 tons of sugar.
• An survey has ranked 57 Pakistani firms among the top 500 companies of the emerging economies of Arabia and Turkey.
• On-grid solar power generation systems of 178 kilowatts each have been installed at Pakistan Engineering Council & at Planning Commission
• Islamic banking industry in Pakistan has posted Rs8 billion profit for the quarter ended September 2011, showing growth of over 58%
• The fast-track growth of foreign retail franchises in Pakistan.
• Mutual funds industry in Pakistan showed a growth of 15 percent during first half of the fiscal year 2011-12.
• Cotton production in Pakistan crossed its estimated target of 12.5 million bales and heading toward highest ever crop of around 15.5m bales.
• 400 megawatts (MW) from wind projects in Gharo and Jhimpir will be added to the national grid by the end of current year 2012.
• State Bank of Pakistan plans to achieve over $13 billion remittances from overseas Pakistani workers for the current fiscal year 2011-12.
• Govt. announced plan to auction five licences, including 3G/4G spectrum in March expecting to generate around $800 million.
• Mobile phone users in Pakistan reached a tele-density of 65.2% with over 111 million users.

Sources: World Bank, Pak Consulate, News Agencies