Robust growth for Pakistan's
economy.
by MEDIA CONTACT RESOURCES, INC.
Pakistan's fiscal year ends on June 30, 2005, and in late
April 2005 the Website onlypunjab.com carried a report of an Asian
Development Bank (ADB) review of the initial nine months of the year.
The ADB predicted that by June 30, 2005, Pakistan's economy will
have grown 7 percent.
Strong domestic demand was partly responsible for this growth, said
the ADB. Consumer spending was also responsible for considerable
pressure on growth in the rate of inflation, which has grown 9.1 percent
during the first nine months of the fiscal year.
During the comparable period the previous year, inflation grew 3.7
percent.
Oil prices were partly to blame for the pressure on inflation.
Some sectors of the economy grew at spectacular rates. One of the
most spectacular was telecommunications. Cell phone subscribers
increased 76 percent to 8.8-million by February 2005. Wireless local
loop also increased. There were 160,000 connections added in the first 8
months of fiscal year 2004-2005.
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NOTE: All illustrations and photos have been removed from this article.