Dubious optimism
Article Abstract:
An analysis of Pakistan's economic conditions is presented. Finance Min Sartaj Aziz's forecasted GDP growth of 6.2% for FY 1992 and of 7% for each year during the five-year economic plan beginning in FY 1993 were deemed too optimistic. A crucial factor in Aziz'z forecasts is increased fixed capital investment funded mainly by foreign investors. However, some economists think that $1 billion in foreign invesments every year would just be enough to keep the economy from collapsing completely. Furthermore, costs of relief and infrastructure repairs for flood damage in 1992 will run to more than $2 billion and thus will continue to drain Pakistan's meager finances.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Restoring order
Article Abstract:
Pakistan's economy has stumbled badly in the year that ended Jun 30, 1993, tripped up by disastrous flooding and a political crisis. Interim Prime Minister Moeen Qureshi, a former World Bank executive vice president, went to the World Bank and the International Monetary Fund late in July to seek a $1 billion loan and a $200 million credit. The country badly needs that help. Its gross domestic product grew at just 3% last FY, its current-account deficit doubled, and its foreign exchange reserves fell over 75%.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Bridge with no bricks: Pakistan presents mixed picture to foreigners
Article Abstract:
Pakistan is depending on foreign investments for the development of their lacking infrastructures. Unfortunately, foreign businesses are detered from doing so for precisely the same reasons. Shortages in basic services such as telephones and power generation are just some of the reservations expressed by prospective foreign investors. Foreigners are also apprehensive of the scarcity of funds for local companies that can be tapped for joint ventures and in the basic stability of the government.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Cautious optimism. Mixed signals
- Abstracts: Think twice. Phoning home. Allied scrutiny
- Abstracts: Crude tactics. Waiting for an opportunity. Life in the fast lane
- Abstracts: Brains for hire. Spring in their step. The China connection: Nike is making the most of all that cheap labour
- Abstracts: The BOT solution. Free to float. Money at work