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In FY23–24, Pakistan’s per capita income increased to $16680.

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7 months ago

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The size of the US economy grew from $341 billion to $375 billion in the current fiscal year, according to figures made public by PBS.

This fiscal year, Pakistanis’ yearly per capita income increased by Rs 90,534; the monthly rise was Rs 7,544.

The official document also said that Pakistan’s per capita yearly income for the year was Rs 475,281, up from Rs 384,747 for the previous year.

The annual income per capita increased by $129 in US dollars.

Pakistanis’ per capita income for the current fiscal year was $1,680 in US dollars, down from $1,551 for the previous fiscal year.

In local currency, the size of the national economy expanded by Rs22,170 billion.

The study cited double-digit inflation as one of the factors contributing to the economy’s notable expansion.

See also: Ahsan Iqbal: Pakistan wants to grow its economy to $3 trillion by 2047.

Pakistan wants to have a $3 trillion economy by 2047, according to Federal Minister for Planning and Reforms Ahsan Iqbal, who made this announcement in April. He also called for more public-private cooperation and a more simplified regulatory environment.

He highlighted the current favorable time for foreign investments in Pakistan, including large promises from China and Saudi Arabia, and stated, “Pakistan is poised to become a $3 trillion economy by 2047, bolstered by a targeted growth rate of 9%.”

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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