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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]
Pakistan Vision 2025 is a set of goals for social, economic, security, and governance developments outlined by the government of the Islamic Republic of Pakistan to be achieved by 2025. The overall goal is for Pakistan to become an upper-middle income country by 2025 and to eventually become one of the top ten economies in the world by 2047 ...
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 ...
The Reko Diq case, officially known as the Tethyan Copper Company Pty Limited v.Islamic Republic of Pakistan is an ongoing legal case between the Government of Pakistan and the Tethyan Copper Company (TCC) over breach of the Australia–Pakistan Bilateral Investment Treaty (BIT) and illegal denial of mining rights to TCC at the Reko Diq Mine in Chagai District, Balochistan.
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 $5,937 million in 2005 by the World Bank. [47]
After the State Bank of Pakistan was founded in 1948, a currency dispute between India and Pakistan broke out in 1949. Trade relations were strained until the issue was resolved in mid-1950. Monsoon floods between 1951–52 and 1952-53 created further economic problems, as did uneven development between East and West Pakistan.
Poverty in Pakistan has been recorded by the World Bank at 18.7-25.3% using the lower middle-income poverty rate of US$ 3.2 per day for the fiscal year 2024–25. [1] In September 2021, the government stated that 22% percent of its population lives below the national poverty line [ 2 ] set at Rs.
The concessional loans are subsidised by the government of China, and are to be dispersed by the Exim Bank of China and the China Development Bank. For comparison, loans for previous Pakistani infrastructure projects financed by the World Bank carried an interest rate between 5% and 8.5%, [20] while interest rates on market loans approach 12%. [21]