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Pakistan has experienced an economic crisis as part of the 2022 political unrest. It has caused severe economic challenges for months due to which food, gas and oil prices have risen. As of 1 January 2025 Pakistan inflation rate was 4.1% lowest in 6.75 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
Efforts to enhance education and literacy rates were evident as adult literacy stood at 55% in 2007–08. Nevertheless, challenges persisted, and economic crises hit Pakistan in 2008, primarily influenced by the 2007–2008 financial crisis. Despite these adversities, economic growth in 2009–2010 reached a respectable 4.1%, with positive ...
Here are some of the challenges that will confront the government that takes charge: TREADING A NARROW ECONOMIC RECOVERY PATH. Pakistan narrowly averted sovereign default last summer through a ...
Pakistan's economy in the 1990s suffered from poor governance and low growth as it alternated between the Pakistan Peoples Party under Benazir Bhutto and the Pakistan Muslim League (N) led by Nawaz Sharif. The GDP growth rate sank to 4 percent and Pakistan faced persistent fiscal and external deficits, triggering a debt crisis.
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 ...
Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan. [1] According to the FBR, in 2021, the number of registered tax filers had grown to 7.1 million out of which only 2.5 million were active tax filers. [ 2 ]
The National Finance Commission Award or NFC is a series of planned economic programs in Pakistan enacted since 1951. [1] Constituted under the Article 160 of the Constitution, the program was emerged to take control of financial imbalances and equally managed the financial resources to four provinces to meet their expenditure liabilities while alleviating the horizontal fiscal imbalances. [2]
Constant economic pressure and failure of the planned economy led the dismissal from power of Benazir Bhutto in 1996 when she failed to materialize her and the relatively poor economic growth. By the 1996, the economic GDP growth had reached to 1.70% [13] (lowest growth since 1970) and the rate of inflation had risen to 10.79% (highest since 1991).