Na­tional econ­omy ....

Pakistan Observer - - PAGE 07 -

patches are more than 17 per cent over last year. The con­struc­tion sec­tor si­mul­ta­ne­ously sup­port­ing other al­lied in­dus­tries like paints and var­nish, steel, bricks etc. The ho­tel busi­ness is high, huge global stan­dard shop­ping malls are com­ing up. Many skilled and semi skilled daily wage work­ers are now more en­gaged in the sec­tor than last few years.

The un­em­ploy­ment rate has seen a de­cline from 6.2 per cent in FY 2013 to 5.9 per cent in FY 2015. The do­mes­tic car pro­duc­tion con­tin­u­ous reg­is­ter­ing re­mark­able growth which im­plies that con­sumers pre­fer do­mes­tic cars over used im­ported cars. The en­abling en­vi­ron­ment has also re­vived con­fi­dence of the in­vestors, on the back of suc­cess­ful op­er­a­tion Zarb-e-Azb which re­mained in­stru­men­tal in cre­at­ing an en­abling en­vi­ron­ment for the in­vestors.

The op­er­a­tion Zarb-e-Azb played a de­ci­sive role in main­tain­ing peace and sta­bil­ity in the coun­try. Sim­i­larly, im­ple­men­ta­tion of Na­tional Ac­tion Plan (NAP) has also played an im­por­tant role in re­duc­ing ter­ror­ism in the coun­try.

The in­ter­na­tional rat­ing agen­cies also up­graded their rat­ing for Pak­istan. Pak­istan has been able to com­plete eleventh suc­cess­ful re­views with IMF which has fur­ther strength­ened the con­fi­dence of in­ter­na­tional in­vestors and has placed Pak­istan on their radar screen as fu­ture in­vest­ment des­ti­na­tion.

There is con­tin­u­ous uptick in FDI and with CPEC in­vest­ment pro­gramme it will fur­ther gain mo­men­tum go­ing for­ward. The ex­pan­sion in credit to pri­vate sec­tor re­mained re­mark­ably strong, which helped the in­dus­trial, food, bev­er­age, tex­tiles, elec­tric­ity & con­struc­tion sec­tors.

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