News & Views

Pakistan leaps towards a ‘$2tr Economy’ by 2050: World Bank

The World Bank has stated that if Pakistan will consistently make reforms and control there population growth to 1.2% then it definitely has the potential to become a $2 trillion economy in the next two and a half decade (28 years).

Pakistan is on its way to take off as the country is now under the new government setup which has vowed to fight corruption and to put money launderers behind bars, it has made its impact with in few months, every government department is working with its utmost potential now to revive the economy of Pakistan. If this continues for the next few decades then surely Pakistan will be in worlds top leading economies.

Pakistan is rapidly getting back on its economic track. Following are the few investments which are being done within 5-years

  1. China Pakistan Economic Corridor – worth $62 billion
  2. $4 billion investment in renewable energy sector by KSA
  3. $2 billion investment in the renewable energy by KSA
  4. $7 billion investment in power sector by KSA
  5. $2 billion investment in Food and Agriculture sector
  6. $250 million investment in telecom sector by Malaysia
  7. $330m investment  in Power Plant project by Turkey
  8. $14 billion investment in energy sector by Russia
  9. $10-billion offshore pipeline project by Russia

As seen in the picture, Finance minister Asad Umar tweeted on 17th February, 2019 about the MOU’s signing ceremony and investment projects plans in the energy, mineral resources and in other various sectors:

 

“IMF and other institutions say that now there is no chance of Pakistan in becoming default and Pakistan’s economic indicators are improving.

But, energy crisis which is yet to be tamed is hurting economy” said Mian Shahid

Haroon Sharif, Minister of State and Chairman, Board of Investment, told a Saudi newspaper quoting:

“We will be signing agreements with investors from Saudi Arabia, the UAE, Germany, Malaysia, and Korea in January which is worth more than $30-40 billion”

 

 

 

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