206, 5818 Sheppard
Ave, East, Toronto, ON
The economy of Pakistan has not only been revived but the country has been put on the road to a sustained development. This reality has also been acknowledged by a number of international rating agencies like Moody’s, MCI and global lending institutions including IMF, World Bank and ADB besides internationally renowned media like The Economist and Wall Street Journal have also from time to time been acknowledging the turnaround in the Pakistan economy..
Pakistan’s economic future dramatically changed when China included Pakistan into her One Belt One Road mega Eurasian development. Titled the “China Pakistan Economic Corridor” (CPEC) it is a massive multipurpose development that is transforming Pakistan in a manner never seen before. Originally valued at $46 billion, the value of CPEC projects is worth $62 billion as of 2017. CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones. CPEC's potential impact on Pakistan has been likened to that of the Marshall Plan undertaken by the United States.
With a population of 202 million which includes a large youth population, with an area that is 340 thousand square miles, Pakistan is the 2nd most populous Muslim nation after Indonesia. Pakistan’s middle class will reach 100 million by 2050.
Pakistan is expected to receive remittances worth a record 22 billion dollars in the financial year 2018-19 as the government has offered an incentive package to overseas workers to attract more money through official banking channels. Latest data from the State Bank of Pakistan showed that remittances rose 13.14 percent in the first quarter of the fiscal year 2018-19 as overseas workers remitted a record 5.42 billion dollars during July to September 2018 compared to 4.79 billion dollars in the same period last year.
The Govt. has also expressed its willingness to facilitate overseas Pakistanis to boost remittance inflows up to 40 billion dollars in coming years.
206, 5818 Sheppard
Ave, East, Toronto, ON
+1(416) 519 8360