ISLAMABAD: The Asian Development Outlook by the Asian Development Bank (ADB) has admitted that the Pakistan’s economy is stable, though projected a 4.2 percent economic growth for financial year 2014-15 against the target of 5.1 percent. Introduction of reforms in the areas of energy, taxation and public sector enterprise according to the ADB is necessary for the government. About 4.1 percent of our GDP growth rate is a direct result of a 5.2 percent provisional growth rate in the Large Scale Manufacturing sector last year but this sector is not performing well this year. The ADB has advised reforms of PSEs through restructuring and privatisation to make the power sector financially viable. The government remains the single largest borrower in the market. Government borrowing from commercial banks crowds out the private sector and makes the balance sheets of commercial banks highly vulnerable due to concentration of government paper in its asset portfolio.
Cotton prices surge as Pakistan’s ginning season begins in second week of May for first time
ISLAMABAD: Cotton and lint prices surged as Pakistan’s ginning cycle began in the second week of May for the first...
