The retailer, which is also a popular choice among UAE residents, announced the closure on its official Instagram and Facebook page
business2 days ago
Pakistan’s economy grew by 0.92 per cent in the first quarter of the fiscal year 2024-25, despite a contraction in the industrial sector, according to data approved by the National Accounts Committee, and released by its Statistics Bureau on Monday.
The South Asian country is navigating a challenging economic recovery path and has been buttressed by a $7 billion facility from the International Monetary Fund (IMF) in September.
The growth was driven by positive performances in the agriculture and services sectors, which grew by 1.15 per cent and 1.43 per cent, respectively, in the first quarter of the fiscal year which ends in June 2025.
Pakistan’s economy grew by 2.69 per cent year-on-year in the first quarter of the previous 2023-24 fiscal year.
However, the industrial sector contracted by 1.03 per cent, mainly due to a decline in mining and quarrying activities during July-September, read the report.
The committee compiling the national accounts approved the introduction of quarterly estimates of expenditure of the economy.
On the basis of latest figures of the national accounts aggregates for the last fiscal year, the overall size of the economy stood at 105.6 trillion Pakistani rupees ($379.31 billion).
Annual per capita income in rupees was recorded at 472,263 Pakistani rupees ($1,696.35).
The committee also approved an updated annual growth rate for the last fiscal year 2023-24, which stood at 2.50 per cent, slightly lower than the previously estimated 2.52 per cent.
The retailer, which is also a popular choice among UAE residents, announced the closure on its official Instagram and Facebook page
business2 days ago
The two-year investment, its biggest ever in the country, will also be used to upskill Indians in AI, says a Microsoft spokesperson
business2 days ago
Retail sector shows "minimal" growth in golden quarter, trade body says sales volumes likely to fall in 2025
business2 days ago
Cheap Chinese steel exports have upended global market
business2 days ago
Government’s efforts to improve transparency in real estate transactions have bolstered investor confidence
business2 days ago
Sultan bin Sulayem shares the challenges behind constructing the Palm Jumeirah, the emirate's first artificial island, and how it almost cost him his life
business2 days ago
This year’s conference welcomed renowned participants from leading institutions worldwide
business3 days ago
Lawsuit alleges Biden influenced national security review for political reasons
business3 days ago