The sanction was given at the National Accounts Committee’s (NAC) 109th meeting, which took place in Islamabad today.

In FY2023–24, Pakistan’s GDP growth rate was 2.38 percent, falling short of the 3.5% target.

In the third quarter of Fiscal Year 2023–2024, the GDP grew steadily by 2.09%. Agriculture, industry, and services are growing at rates of 3.94%, 3.84%, and 0.83%, respectively.

Every component of agriculture has made a good contribution during Q3, including cattle (4.20%), other crops (1.14%), key crops (2.89%, mostly wheat), and cotton ginning (61.75%). Notwithstanding the construction industry’s negative growth (-15.75%), large-scale manufacturing (1.47%), mining and quarrying (0.63), and the delivery of gas, electricity, and water (37.3%) are responsible for the industry’s 3.84% increase.

In the fiscal year 2023–2024, the industrial sector’s growth rate stayed at 1.21%. The production of crude oil (1.51%), coal (36.72%), and other minerals (7.57%), such as marble (23.22%) and limestone (7.95%), has increased, leading to a 4.85% expansion in the mining and quarrying business.

Based on the Quantum Index of Manufacturing (QIM), large-scale manufacturing has seen a nominal growth of 0.07% with a mixed trend in the production of different groups, such as food (+1.69%), beverages (-3.43%), textiles (-8.27%), tobacco (-33.59%), non-metallic mineral products (-3.89%), wood (+12.09%), Coke & Petroleum (+4.85%), and pharmaceuticals (+23.19%).

The per tola gold price was recorded at Rs248,500 by the Sindh Sarafa Jewellers Association, following a fall of Rs1,900 in a single day.

Similarly, the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) released rates for 10-gram gold, which showed a loss of Rs1,630 before selling for Rs213,048.

At Rs2,850 per tola and Rs2,443.41, respectively, the price of 10-gram and per-tola silver did not change.
According to the association, the price of gold dropped by $21 on the global market, from $2,439 to $2,419.

The CASA-1000 project commenced its implementation in January of 2018. As part of a $1.2 billion regional initiative, Afghanistan and Pakistan will get 1,300 MW of extra hydropower from Kyrgyzstan and Tajikistan that will be connected to the electricity grids of four other nations.

Deputy Prime Minister and Foreign Minister Ishaq Dar met with Sirojiddin Muhriddin, the Foreign Minister of Tajikistan, in a bilateral meeting during the SCO Council of Foreign Ministers Meeting that took place in this country on May 20–21. The topic of discussion was bilateral ties and projects.

The resolve of the two foreign ministers to bolster bilateral cooperation and high-level engagement was reiterated.

After the Taliban took control in 2021, construction on the CASA-1000 project was put on hold, but it has reportedly resumed in Afghanistan.

It is anticipated that Kyrgyzstan will provide the remaining 30% of the electricity needed for the CASA-1000 project, with Tajikistan providing the last 70%. Head of NENK’s (National Electricity Networks of Kyrgyzstan) public relations division Elzada Sargashkayeva told the Times of Central Asia, “[They’ll supply] a total of 1,000-1,300 MW of electricity per year.”