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"Forget oil at $80 a barrel", said Iranian Petroleum Minister last year and his claims are proving to be true as the US Energy Information Administration (EIA), in its latest Short-Term Energy Outlook January 2010, has echoed the same - forecasting global oil price to average $100 a barrel for 2012.
How vulnerable is Pakistans economy to oil shocks? Imports of oil products and crude oil account for nearly one-third of the countrys total import bill. These imports plug about a two-third of the total domestic demand for oil. So to no ones surprise; a shock from oil prices can send the countrys economic engines into seizure.
Besides the affinity of beginning with a C, cartelisation and cement have formed a strong bond in Pakistan, thanks to the added regulatory blows of another C - the Competition Commission of Pakistan (CCP). Bringing the critical issue of cartelisation to the fore again, the CCP raided the office of the All Pakistan Cement Manufacturers (APCMA) on Monday, accusing cement manufacturers of colluding to raise domestic prices of the commodity.
Tractor manufacturers in Pakistan can finally heave a sigh of relief as after months of deliberations with the government the issue of GST on tractor sales has finally been resolved.
In a move that brought the eurozone back to the forefront, S&P last week, downgraded nine economies of the (in)famous bloc, including key member, France.
The agriculture sector is widely considered the backbone of the countrys economy. But official data show the growth of this sector has slowed down in recent years, largely due to water related woes. Growth of the countrys agriculture sector slowed down to an average of just 2.7 percent in the first decade of this Century as compared to 4.4 percent in the 1990s and 5.4 percent in the preceding decade, according to the Pakistan Economic Survey 2010-11.
Despite being an agrarian economy, Pakistan lacks the essential infrastructure that is needed for safe storage and transportation of farm produce. Since almost all of the agriculture produce is perishable the unavailability of infrastructure results in heavy losses.

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln