Growth rate of 3.94% not surprising
Govt must be committed to reforms without which growth cannot be sustainable
ISLAMABAD:
When the National Accounts Committee published an estimate of 3.94% economic growth based on the July 2020-April 2021 period, it caught most of the commentators by surprise and the estimate was disputed.
In this article, we argue that this should not have been the case, using insights obtained from our analysis.
For the last 18 months, we have published a monthly index, which takes into account Pakistan’s macro-economy based on the analysis of four periodic datasets: trade volume (TV), Consumer Price Index (CPI), Quantum Index of Large-Scale Manufacturing Industries (QIM) and Long-Term Financing Facility (LTFF). From July 2020 to April 2021, the index has exhibited an upward trend, registering a growth of 19%. It shows that the economy has demonstrated positive growth for all but two months.
Daily Times
May 10, 2021
ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has said that Pakistan’s exports to Australia reached $229 million in last ten months of current fiscal year 2020-21 as compared to $177 million in the same period of last FY 2019-20.
“We are glad to share that during July-April 2021, “our exports to Australia increased by 29 percent to $ 229 million as compared to $177 million in Jul-April 2020,” the adviser said this on his official twitters account.
We are glad to share that during Jul-April 2021, our exports to Australia increased by 29% to USD 229 million as compared to USD 177 million in Jul-April 2020. This is the highest 10-months export to Australia ever.
Pakistan’s export of Kinnows & Oranges increased by 16%
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ISLAMABAD, Pakistan: Pakistan’s export of Kinnows and Oranges increased by 16% to US$ 209 million during July-April 2021 as compared to US$ 180 million during the same period last year.
“I commend the hard work of our Citrus exporters and encourage them to achieve even better results in next season,” the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood said in a statement on Monday.
The adviser said that the Ministry of Commerce is at your service.
Earlier in another tweet, the adviser said that the overall output of Large Scale Manufacturing Industries (LSMI) increased by 9% for July-March 2021 as compared to July-March 2020.
Daily Times
April 21, 2021
The domestic production of vegetable ghee and cooking oil during first eight months of current financial year decreased by 3.69 and 0.20 percent respectively as compared to the production of corresponding period of last year.
During the period from July-February, 2020-21, about 946,982 metric tons of vegetable ghee manufactured as compared to the manufacturing of 982,466 metric tons of same period of last year, according to the provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for February 2021. Meanwhile, 291,593 tons of cooking oil manufactured during last eight months in order to tackle with the domestic requirements as compared the production of 292,186 tons of same period of last year. The overall output of LSMI in the country witnessed about 7.45 percent growth during last 08 months of current fiscal year as compared to the production of corresponding period of last year.