ISLAMABAD: Pakistan economy is all set togrow further during current year due to government'spro-growth policies as indicated in the bulking of itseconomic indicators.
According to a report carried by a section of press, Pakistan continued its march from being a frontiereconomy to becoming an emerging market. It said 2017 may be the bestyear in the country's 70-year-long history.
These changes are likely to take place from increase inforeign investment to the auto industry.
Although gross domestic product (GDP) growth forecastsby International Monetary Fund, World Bank and others may varybut Pakistan's GDP is likely to grow by 4.7 per cent thisyear.
The annual GDP may increase from $270 billion to around$300 billion and for the first time, the Purchasing PowerParity may cross the $1 trillion mark, it added.
It said Pakistan is currently 40th largest economy in the world and its ranking may improve by a point or two.
The report further said Pakistan would enter MSCI'sEmerging Markets category in May, meaning larger amounts would inflow. The MSCI is a leading provider of internationalinvestment decision support tools.
In 2016, Pakistan Stock Exchange (PSX) provided 46 percent returns. KSE-100 benchmark index is also likely to cross55,000 points from current nearly 48,000 points.
Forty per cent stakes in PSX will go to Chineseconsortium and this is likely to bring large institutionalinvestors from other countries.
The report further said more large shopping malls wouldbe built or become operational across major urban centres.Superstore chains will open new stores in unprecedentedthree-digit numbers.
The Foreign Direct Investment in the current year mightcross the $1-billion mark. The remittances may pick up toreach $20billion mark.
Inflation may remain between four and five per cent aslow oil prices are expected to stay stable whereas financesector will increase focus on financial inclusion, generatingopportunities for micro-finance and commercial banks.
Pakistan, at 144 out of 190 countries, was among top 10global improves in World Bank's 2017 Doing Business rankings.In the 2018 ranking, it will improve further.
The report said Pakistan may need additional 100,000 trucks to meet the China Pakistan Economic Corridor (CPEC)related material and freight transport needs.
Demand for locally manufactured new and imported usedcars will continue to rise with interest from Volkswagen, Kia,Renault and Nissan for manufacturing plants in Pakistan, itadded.