Good News For Pakistan's Economy Growth 2021 | Inflation Rate | Return On Investments

Pakistan's economy 2021 is recovering faster than the previous year. Pakistan's economy has been in decline for the last decade, but when we look at our economy today, we can see a 3.9 percent growth. Pakistan's economy has been in surplus for the past 6-8 months, which is a positive sign. Our imports are increasing, but our forex reserves are increasing as a result of overseas Pakistanis investing in home remittances that benefit Pakistan, as well as the State Bank of Pakistan's Roshan Digital Account, which has accumulated more than a billion dollars through these accounts.

Pakistan's Large Scale Manufacturing (LSM) sector is critical to the country's economy. Cement production, steel, fertilizers, auto-manufacturing of vehicles, chemicals, and textile play an important and vital role in Pakistan's GDP. Not only (LSM), but Pakistan's ICT and telecommunication exports have increased by 46 percent, a record high. This is helping Pakistan’s economy rebound and be back on track.

Pakistan's Large Scale Manufacturing (LSM) sector is critical to the country's economy. Cement production, steel, fertilizers, auto-manufacturing of vehicles, chemicals, and textile play an important and vital role in Pakistan's GDP. Not only (LSM), but Pakistan's ICT and telecommunication exports have increased by 46 percent, a record high. This is helping Pakistan’s economy rebound and be back on track.

In contrast, Pakistan's agricultural sector, which serves as the country's backbone, can expect a 3% to 4% increase in grain and wheat production, which will help the country avoid food inflation. Previously we use to import grain and wheat from other countries. It will reduce inflation, which has been increasing for a long time. The country will soon prosper, which will benefit the lower castes.

There is no doubt that this took place last year as a result of the Covid-19 lockdown. Our economy was in a state of flux. the economic growth has disrupted with no activity since everything had closed due to which our economical numbers were in a diminishing state.

Our budget had also gone through a bad time. It was impossible to establish a viable system. Pakistan's government has taken innumerable measures to help the economy recover.

Prior to recovery, it was more important to put a stop to the main thing. The lockdown was implemented as the first step in March 2020. In April, the State Bank of Pakistan announced temporary policies that have steadily decreased. Shairah-e-Sood 13.5 percent was the interest rate set by the State Bank of Pakistan. They have cut 625 basis points in 100 days, and the interest rate has now dropped to 7%.

As a result, the money was taken out of the bank and then used for economic revival, economic inflation, businesses, and workshops. Most importantly, in April-May 2020, the Prime Minister of Pakistan initiated a relief package for the housing and real estate sectors.

The relief package was critical for the hundreds of thousands of people involved in the housing and real estate sectors. Aside from skilled and unskilled industries associated with the real estate industry. It incorporates over 40 industries that are associated with it. The Prime Minister's relief funds played a significant role in stabilizing the industry; as a result, slow economic growth could be seen and the economy began to stabilize. As a result, money began to flow into the stock market, and it began to rise. Second, the real estate sector package arrived, and the interest rate was reduced, so people withdrew money from the bank and invested it in real estate. Because real estate is a genuine demand, growth in the real estate sector is possible.

When interest rates are low, people expand their businesses and factories, and we saw a significant increase in large-scale manufacturing, auto sales, cement dispatches, fertilizer dispatches, chemical, and pharmaceutical manufacturing. All of these sectors were essential to Pakistan's economic growth. As a result, our economy has recovered from its low point. After going negative, our economy has improved to 3.94 percent, and we hope to cross 4 and a half percent in the coming days.

The agricultural sector is Pakistan's most important industry. Our crops were very bad the previous year due to mismanagement, and we had to import wheat, sugar, and even cotton. But now, with the expected growth in the next six months or a year, agriculture is going to play a critical role.

This time there was a proper crop of wheat and an increase in grain growth, so our agricultural sector is now attempting to be more supportive, but the game-changer was large scale manufacturers, whose profits and growth have increased, and most importantly, the textile industry has seen an increase in growth.

Previously, our textile industry was adequate, but our exports were insufficient, which have now increased in the last year and a half. When India and Bangladesh's orders were canceled, they arrived in Pakistan, and the lockdown imposed by Covid-19 had eased slightly by this time. Covid-19 did not have the same impact on us as it did on the rest of the world. Our textile industries are operating at full capacity; mills in Faislabad and Karachi are both running at full capacity, and exports are also working at full capacity. This was a crucial time.

Apart from the textile sector, the real estate sector played a supportive role, and there was an increase in activity in the housing sector as a result of the government's relief package. Cement and steel production increased, as did the production of sanitary tiles and other electrical fixers, as well as all housing-related industries. This aided the overall economy and started it on the road to recovery. The increase in the economy following the decrease was entirely due to the government of Pakistan's actions.

CONCLUSION:

Pakistan's economy has been in decline for the last decade. Pakistan's Large Scale Manufacturing (LSM) sector is critical to the country's economy. Cement production, steel, fertilizers, auto-manufacturing of vehicles, chemicals, and textile play an important role in Pakistan's GDP. ICT and telecommunication exports have increased by 46 percent, a record high. The country will soon prosper, which will benefit the lower cast. The lockdown was implemented as the first step in March 2020. The relief package was critical for the hundreds of thousands of people involved in the housing and real estate sectors. As a result, money began to flow into the stock market, and it began to rise. After going negative, our economy has improved to 3.94 percent, and we hope to cross 4 and a half percent. The agricultural sector is Pakistan's most important industry. Pakistan imports wheat, sugar, and cotton from other countries. Pakistan's textile industry has seen an increase in growth. The government's relief package helped the housing sector, which has seen increased activity. The increase in the economy following the decrease was entirely due to the government of Pakistan's actions.