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Pakistan Attracts $4.6 billion Foreign Direct Investment - ASHARQ AL-AWSAT English Archive
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ISLAMABAD — Pakistan has attracted $4.6 billion foreign direct investment (FDI) during the last eight months as compared to $ 1.89 billion in the same period last year, Economic Advisor to the Ministry of Finance Dr Ashfaq Hassan Khan said.

A surge of 147 percent has been recorded in FDI. In February alone, it remained $ 1 billion.

Pakistan s foreign debt burden decreased to 28 percent in December 2006 from 66 percent of GDP in June 1999.

The unemployment ratio has been brought down to 6.2 percent in 2005-06 from 8.3 percent in 2003-04, Khan said in a statement.

Due to rapid development electricity consumption has been persistently increasing by 10.5 percent per annum in the last couple of years as compared to only 3 percent seven years ago.

Efforts are underway to meet the demand by producing more and more electricity as 60 percent increase has already been registered in the imports of furnace oil during the last seven months.

On the overall performance of economy in last 60 years he said Pakistan has managed an average growth ratio of five percent per annum in the last six decades.

Cotton production has been increased to 13 million bales from 10 million bales while wheat production has been augmented to 22 million tonnes from 13 million tonnes. Production of sugarcane has escalated upto 50 million tonnes from 46 million tonnes during the past six decades.

Khan said Pakistan s per capita income is far better than India as it is $ 660 there while Pakistan s average income is $ 847.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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