NEC approves 4.8% economic growth target for FY22
Agriculture sector is targeted to grow 3.5%, industry 6.5% and services 4.7%

The National Economic Council (NEC) on Monday approved a “realistic” economic growth target of 4.8% for the next fiscal year Image
amid a challenge to strike a balance between economic stability and growth to contain increasing inflationary and imports pressures.

The 4.8% Gross Domestic Product growth rate for fiscal year 2021-22 that the NEC – the country’s constitutional economic decision-making body –
approved was slightly lower than what Finance Minister Shaukat Tarin had sought.

Tarin wanted over 5% economic growth target but Planning Minister Asad Umar opined in the meeting that 4.8% target was realistic
one that had been worked out by the Planning Commission in consultation with other stakeholders, a participant of the meeting told

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More from @DevelopmentPk

11 Jun
Electric Fans exports during the initial ten months of the financial year 2020-21 grew by 41.47 percent when contrasted with the exports of the corresponding time of the last year. Image
During the period from July-April 20-21, Electric Fans worth US$ 25,462 thousand were exported when contrasted with the fares of US$ 17,998 thousand in a similar time of last year.

As indicated by the data released by the Pakistan Bureau of Statistics,
the exports of Engineering goods increased by 23.58 percent, worth US$ 182,194 thousand exported when contrasted with worth US$ 147,430 thousand in the same period of last year.

Other electrical machinery exports increased by 26.84 percent,
Read 4 tweets
10 Jun
Contract awarded for construction of #Sialkot #Kharian #Motorway M-12 project

The NHA awarded the contract for the 69-kilometre Sialkot-Kharian Motorway (M-12) project to a partnership of Frontier Works Organization (FWO) and SMC Private Limited according to news sources. Image
The meeting was presided over by Chairman NHA Khurram Agha, and it was agreed that the Letter of Intent (LOI) will be given as soon as possible. Three construction companies submitted bids, and all three were found appropriate for the job.
Following careful evaluation, the FWO and SMC joint venture was determined to be the best fit.

The project will cost PKR 27.32 billion and FWO will get PKR 1 billion subsidies from the government annually for 8 years through Viability Gap Funding (VGF).
Read 5 tweets
10 Jun
#MOUNTAIN #VILLAGE #NARAN - #GAME #CHANGER .....!!!! BY - MH IKHLAS #Investments #Realestate #Tourism ...

MVN is the 1st International Standard Tourist Resort of #Pakistan comprising #Modern #Villas, #Hotel #suits, #Foodstreet, #Adventure #Park and much more. Image
It is located on Main Saif-ul-Malook Jheel road Naran.

It is the 1st initiative of this magnitude and standard which shall remain as the #Industrial #Precedent of the Tourism Real Estate of Pakistan.
It has been conceived and initiated by MH IKHLAS Developers, #Pioneers and #leaders of Tourism Real Estate. The Project has been designed to remain the #Benchmark project for local and overseas investors giving the highest ever rental returns in Pakistan.
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9 Jun
Shortfall reaches 5,000MW as power outages hit Pakistan amid ongoing heatwave

The country is facing eight-hour-long power outages amid the merciless ongoing heatwave as the electricity shortfall has reached 5,000 megawatts Image
According to power division sources on Wednesday, the electricity shortfall was touching 5,000MW following an ongoing heatwave in the country as the mercury level is touching 44 Celsius in Lahore.

The sources said that 4,000MW was being generated by hydropower.
Whereas thermal power plants are generating 3,000MW electricity

The total production of electricity is 19,000MW while the demand is 24,000MW sources added.

However, the power division on the other hand is citing just 1,500 shortfall as a main cause for 8 hour long loadshedding.
Read 4 tweets
9 Jun
#SaudiArabia Approves 901 million Saudi Riyal for the construction of #Mohmand Hydropower Dam

Saudi Arabia has approved a funding of 901 million Saudi Riyal for the construction of Mohmand Hydropower Dam, reported quoting Kingdom’s Ambassador to Pakistan Nawaf Bin Said Al-Maliki ImageImage
The Saudi envoy shared this while meeting with the Federal Minister for Economic Affairs Omar Ayub besides also discussing the success of Prime Minister Imran Khan.
He said that funding of 901 million Saudi Riyal was approved for the construction of Mohmand Dam from the Saudi Development Fund. “The funding is for 25 years and an interest rate of two percent will be charged on it,” said the envoy of Saudi Arabia.
Read 4 tweets
9 Jun
#PIA to Add Four New Planes to Its Fleet

#Pakistan International Airlines (PIA) aims to induct new aircraft into its fleet. Chief Executive Officer (CEO) PIA, Air Marshal Arshad Malik, said this while addressing a live session on the airline’s Facebook page on Tuesday. Image
He added that PIA aims to induct narrow-body aircraft in its fleet and is in the process of returning the ATR-72 aircraft that had been acquired by the previous administrations on an expensive lease..
He noted that the International Air Transport Association (IATA) was formulating the flag carrier’s business plan that would be completed within three months.

When asked about in-flight entertainment, Air Marshal Arshad Malik maintained that
Read 4 tweets

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