Positive Economic Indicators – Express Urdu

The State Bank of Pakistan has released the Financial Stability Review Report for 2022 yesterday. In this report, it has been stated that the performance and resilience of Pakistan’s financial system has remained stable during the year 2022. Pakistan’s economy is facing a difficult year. had to, because the unfavorable external environment had exacerbated economic imbalances.

The report also cites the reasons for the increase in Pakistan’s woes, which include fiscal deficit, high inflation, devastating rains and floods, delays in the completion of IMF programs, rapid rise in commodity prices and Global challenges such as tight monetary policy by major central banks of advanced economies have had an impact on the deteriorating economic situation.

The State Bank of Pakistan in its review report added that despite these challenges, the financial sector has shown resilience in the face of such pressures, with 18.3 percent of financial sector assets in 2022 supported by the banking sector. It grew. The current account deficit improved towards the end of the year.

The seriousness of the economic and financial financial crisis that Pakistan was suffering from does not need to be explained now because the country’s policy makers, business circles and the people are well aware of its seriousness and intensity, despite this, Pakistan’s economy and financial sector have shown resilience. demonstrated and did not let the country go bankrupt. Thanks to this flexibility, Pakistan was able to sign an agreement with the IMF.

However, the State Bank has further stated in its review report that the GDP growth during the year 23 has been only 0.29%. The Financial Stability Review highlighted that banks’ assets saw a strong growth of 19.1 percent in 2022, while loans declined. The increase led to a moderate decline in the income of the non-financial corporate sector.

However, the overall financial position of the top 100 listed companies remained stable and the corporate sector generally continued to meet the obligations of financial institutions. Proactively monitors and evaluates, and takes proactive measures to address, these risks.

Pakistan has also accepted stringent conditions to satisfy the IMF as it became imperative to do so. Due to the implementation of IMF conditions, inflation has increased significantly. People expect the rulers to cut their salaries and benefits too. Similarly, the capitalist class of the country will also make a financial sacrifice. If this happens, Pakistan will get out of financial difficulties.

On the other hand, one good thing has happened is that the major political parties of the country have supported the agreement with the IMF. The parties included in the government coalition are supporting this agreement, but Tehreek-e-Insaf has also supported the agreement with the IMF, which is a good development.

The IMF delegation is meeting with leaders and leaders of major political parties of Pakistan. IMF representative for Pakistan Esther Perez met the PPP finance resident team yesterday. According to the statement issued after the meeting, Commerce Minister Syed Naveed Qamar and Senator Salim Mandviwala participated in the meeting. Bye agreement was discussed.

Syed Naveed Qamar said that the standby agreement is very important to remove the economic concerns of Pakistan, the IMF agreement will have profound effects on the financial stability of the country, for the successful implementation of the PPP program, It reiterates its commitment to work in harmony.

On the other hand, Pakistan has provided the financing plan for external payments to the IMF, in which Pakistan has informed the IMF about financing arrangements of 8 billion dollars instead of 6 billion dollars. had asked for assurances of six billion dollars for Pakistan while Pakistan has given assurances of eight billion dollars for external payments.

The media has said with reference to sources that China will provide Pakistan with three and a half billion dollars, two billion dollars of China will remain in deposits, commercial banks of China will provide one and a half billion dollars, Saudi Arabia will provide $2 billion to Pakistan, United Arab Emirates. The Emirates will provide one billion dollars, the World Bank will provide 500 million dollars and the Asia Infrastructure Bank will provide 250 million dollars. Finance Ministry officials say that the 350 million dollars announced by the Geneva Conference will also come to Pakistan.

This development in the domestic scenario indicates that the direction of Pakistan’s economy has been corrected. This has been demonstrated in the form of positive changes in various sectors of the economy. In the Pakistan Stock Exchange, the market remained in the positive zone throughout the business week. The value of the dollar also saw a decline, with the dollar still selling at Rs 280, but it has fallen below Rs 300. If the political stability in the country continues and the economic policies of the government remain in line with the ground realities, the value of the rupee may increase further.

On the other hand, the data of the Department of Statistics has stated that the inflation rate has increased by 0.70 percent across the country in the first business week after the long holiday of Eid-ul-Azha, while the annual inflation rate has been 28.55 percent. The inflation graph is very high, it should come down. If the government reduces its non-developmental expenditure, the inflation graph can also come down, which can provide relief to the common man.

Prime Minister Shahbaz Sharif inaugurated the Land Information and Management System Center of Excellence. He was the chief guest at the opening ceremony. Army Chief General Syed Asim Munir was also present on this occasion. According to the Prime Minister’s Office, according to the World Food Programme, 36.9 percent of Pakistanis are food insecure and 18.3 percent of them are facing a severe food crisis due to current food insecurity, widespread malnutrition and rising import bills for agricultural products. At the same time, considering the population growth and future domestic food requirements, the national, political, economic and military leadership decided to take decisive and effective measures to tackle this critical problem.

The establishment of LIMS is a first-of-its-kind initiative aimed at enhancing food security and improving agricultural exports, thereby reducing the import burden on the national exchequer by converting millions of acres of uncultivated/low-yielding land within the country. have to do This state-of-the-art system will help improve agricultural productivity through sustainable precision agricultural practices based on modern technologies and the agro-ecological potential of the land while ensuring the well-being of the rural population and protection of the environment. GIS-based LIMS will greatly improve national agricultural production by streamlining the digitization of agriculture.

Earlier, while addressing the laptop distribution ceremony under the Prime Minister Youth Program at the Jinnah Convention Center, Prime Minister Shehbaz Sharif said that one lakh laptops will be distributed among the youth during the next one year. I will distribute not one lakh but one crore laptops among the youth.

If the economy of the country is better, more can be spent on education and health sectors. Three indicators are very important to check the quality of economic development. Number one among them is infrastructure, the country with the best infrastructure will have more business activities.

Another indicator is that the education sector should be developed. A country that invests more in scientific and technical education is also considered a sign of development. Thirdly, health, the economy in which the medical facilities are of high quality and affordable, is also considered as a developed economy.