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On April 4, the World Bank projected about 4 million Pakistani people falling below the lower middle-income ($3.6/day ) poverty line amid economic growth plummeting to just 0.4% against a target of 5pc. [56] In May 2023, Pakistan's inflation rate reached 38%, surpassing Sri Lanka to become the highest country in Asia. [57]
In the first four years of the twenty-first century, Pakistan's KSE 100 Index was declared the best-performing stock market index in the world by the international magazine "Business Week". [46] [citation needed] The stock market capitalization of listed companies in Pakistan was valued at $5,937 million in 2005 by the World Bank. [47]
The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purposes of economic development. [6] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...
After the State Bank of Pakistan was founded in 1948, a currency dispute between India and Pakistan broke out in 1949. Trade relations were strained until the issue was resolved in mid-1950. Monsoon floods between 1951–52 and 1952-53 created further economic problems, as did uneven development between East and West Pakistan.
Pakistan’s transportation infrastructure has suffered from government neglect. Infrastructure is a backbone of the economy and a well developed infrastructure is not only important to attract foreign investment, it also needed to maintain high growth rate but weak infrastructure has been one of the major factors restricting Pakistan’s ...
The Canadian conglomerate Cathy Oil and Gas signed a memorandum of understanding in late 2006 to invest $5 billion in oil and gas exploration, development, production and commercialisation in Pakistan. [25] The World Bank estimates that it takes about 32 days only to get an electrical connection in Pakistan. [6]
During that period economy of Pakistan remained in poor shape and Pakistan had to go to IMF again for record third in the period of Bhutto government. [3] As per few sources, this was the most corrupt government in the history of Pakistan. This time Pakistan got an amount of US$294,690 (equivalent to $608,108 in 2024) on 13 December 1995. [3]
The Pakistan Development Forum (PDF) convenes annually, bringing together the Government of Pakistan and its development partners to address diverse development challenges. It serves as a platform for sharing information, discussing key issues, and fostering collaboration to find solutions.