ISLAMABAD, March 26 : Pakistan’s government said on Wednesday the country’s provisional GDP growth rate was 1.73 percent in the second quarter of the current financial year ending on June 30 and upgraded its estimate for the previous quarter.
The government National Accounts Committee said in a statement that Pakistan had revised the first quarter real GDP estimate up to 1.34 percent from earlier estimates of 0.92 percent due to higher-than expected growth in the services sector.
The announcement came just hours after International Monetary Fund staff reached a deal with Pakistan for new $1.3 billion financing and praised the country’s progress on boosting macroeconomic stability.
The country’s central bank in March said its full-year GDP growth target was at 2.5 percent to 3.5 percent and said it expected economic activity to gain further momentum. (Reporting by Charlotte Greenfield Editing by Tomasz Janowski)
Pakistan economy grew 1.73 percent in 2nd quarter, government says
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Pakistan economy grew 1.73 percent in 2nd quarter, government says
- National Accounts Committee says first quarter real GDP estimate revised up to 1.34 percent due to higher-than expected growth in services sector
- Announcement came just hours after IMF staff reached deal with Pakistan for new $1.3 billion financing and praised country’s macroeconomic stability
Pakistan president meets UAE counterpart, explores trade, investment opportunities
- Asif Ali Zardari is in UAE on four-day visit to strengthen bilateral ties, review bilateral cooperation
- Both sides discuss regional, international developments, reaffirm commitment to promote peace
ISLAMABAD: President Asif Ali Zardari met his UAE counterpart Sheikh Mohammed bin Zayed Al-Nahyan in Abu Dhabi on Tuesday during which both sides explored new opportunities in trade, investment, energy and other sectors, Zardari's office said.
Zardari arrived in Abu Dhabi on Monday evening with a high-level delegation on a four-day official visit to the UAE to review trade, economic and security cooperation.
"The leaders discussed ways to further deepen the longstanding and brotherly relations between Pakistan and the UAE," a statement from Zardari's office said about his meeting with the UAE president.
"They reviewed the full spectrum of bilateral cooperation and explored new opportunities in trade, investment, energy, infrastructure, technology, and people-to-people exchanges, highlighting the significant potential for expanding economic and strategic partnership.
Zardari highlighted the significance of Al-Nayhan's visit to Pakistan last month, the statement said, expressing appreciation for the UAE's continued support for strengthening bilateral ties.
It said both sides also exchanged views on a range of regional and international developments, reaffirming their commitment to promoting peace, stability and sustainable development.
The meeting was also attended by Pakistan's First Lady Aseefa Bhutto-Zardari, the Pakistani president's son Bilawal Bhutto-Zardari, who is also the chairman of the Pakistan Peoples Party, Interior Minister Mohsin Naqvi and Pakistan's ambassador to the UAE.
ZARDARI MEETS AD PORTS CEO
Zardari earlier met AD Ports Group CEO Captain Mohamed Juma Al-Shamisi to discuss the group's investment initiatives in Karachi.
"Both sides agreed that the expansion and modernization of port infrastructure would strengthen trade flows and support Pakistan’s broader economic development and country’s seaborne trade," the President's Secretariat said in a statement.
It added that Zardari described the AD Ports Group's long-term investment and expanding role in Pakistan's maritime and logistics sector as a key pillar of Pakistan–UAE economic cooperation.
Pakistan and the UAE maintain close political and economic relations, with Abu Dhabi playing a pivotal role in supporting Islamabad during periods of financial stress through deposits, oil facilities and investment commitments.
The UAE is Pakistan's third-largest trading partner, after China and the United States, and a key destination for Pakistani exports, particularly food, textiles and construction services.
The Gulf state is also home to more than 1.5 million Pakistani expatriates, one of the largest overseas Pakistani communities in the world, who contribute billions of dollars annually in remittances, a crucial source of foreign exchange for Pakistan’s economy.
Beyond trade and labor ties, Pakistan and the UAE have steadily expanded defense and security cooperation over the years, including military training, joint exercises and collaboration in counter-terrorism and regional security matters.
