Another condition of IMF is fulfilled, Saudi aid of 3 billion dollars, renewed next week, intention to give 100 million dollars per month for 10 months in the form of petroleum products, Pakistan’s determination to take economic development to 7%, GDP 383 billion Dollars, per capita income reached 1798 dollars, growth was also seen in defense.
According to the American magazine Bloomberg, the officials, who requested not to be identified, said that the Saudi Ministry of Finance will deposit its 3 billion dollars in the State Bank of Pakistan next week.
The kingdom also plans to provide $100 million per month for 10 months in petroleum products as additional aid, a commitment that could be announced in the next two days.
Representatives of Saudi Arabia’s and Pakistan’s finance ministries did not immediately respond to messages seeking comment.
On the other hand, on the occasion of the 75th Independence Day of Pakistan, in connection with the Diamond Jubilee celebrations, the Ministry of Finance published a booklet entitled 75 Bright Years of Economic Growth, in which it was said that the Gross National Product (GDP) of the country between 1950 and 2022. It has increased from 3 billion dollars to 383 billion dollars.
The country’s GDP growth rate has increased to 5.97 percent for the year 2022 compared to 1.8 percent in 1950.
Similarly, in the period from 1950 to 2022, the per capita annual income also reached 1,798 dollars per year compared to 86 dollars.
According to the report, during this period, the total annual exports of the country have increased from 163.9 million dollars to 32.5 billion dollars.
Additionally, the annual volume of tax revenue has increased to a significant level of Rs 6,126.1 billion by 2022 as compared to Rs 0.31 billion in 1950 FY50.
In 1949, the share of agriculture sector in the total GDP of Pakistan was 59.9%, however, in the early 1960s, the green revolution started in the country, after which the efficiency of the agricultural sector has increased significantly.
According to 75 bright years of economic growth rate, at the time of independence, Pakistan inherited only 34 industrial units out of 921 industrial units, but Pakistan also showed significant performance in the industry sector and at that time, Pakistan was counted among the textile industry.
In addition to this happening in big countries, other commodities and products are also being exported to countries around the world.
In 1999, the construction of six-lane motorway from Lahore to Islamabad was completed. Currently, the National Highways Authority (NHA) network consists of 48 national highways.