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During this period, Pakistan faced a worsening trade balance, with deficits increasing from −831 million Rupees in 1950/51 to −1043 million Rupees in 1959/60. Economically, agriculture grew at an annual rate of 1.6%, while manufacturing expanded impressively at 7.7% per annum during the 1950s.
US dollar-Pakistani rupee exchange rate. Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar, a devaluation of 30%, to match the Indian rupee's value. [30]
In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
The paper also reports that Pakistan received the most aid out of all the countries in Southern Asia, with India just behind receiving $589 million in 2015. The biggest part of the aid to Pakistan was given for basic education. Out of the total $649 million, $371 million or 57.16 per cent was given for basic education. [1]
India became one of the first nations to offer aid to Pakistan, despite the generally poor relations between the two countries, and by the end of November had pledged US$1.3 million (US$8.7 million in 2020 dollars) of assistance for the relief efforts. [46]
The Pakistani community in the United States also remits the largest share of any Pakistani diaspora community since 2002/03, surpassing those from Saudi Arabia which from 2000/01 were $309.9 million and increased to $1.25 billion by 2007/08 and during the same period remittances from the United States increased from $73.3 million to $1.72 billion.
The poverty expenditure rate statistically dropped to 34.5–17.2% in 2008 as part of the privatisation programme. The privatisation process in Pakistan, [1] sometimes referred to as denationalisation programme [2] or simply the privatisation in Pakistan) [3] is a continuous policy measure program in the economic period [when?] of Pakistan.
The country's urban population more than tripled between 1981 and 2017 (from 23.8 million to 75.7 million), as Pakistan's urbanisation rate rose from 28.2% to 36.4%. Even with this, the nation's urbanisation rate remains one of the lowest in the world , and in 2017, over 130 million Pakistanis (making up nearly 65% of the population) lived in ...