IMF: Pakistan economy improving, reform on track

DUBAI, United Arab Emirates (AP) — The International Monetary Fund said Sunday that Pakistan has met nearly all of its quantitative performance markers, that its economy is showing signs of improvement and that its reform program remains broadly on track.

Pakistan’s economy on way to recovery

Pakistan is the 26th largest economy in the world in terms of purchasing power, and the 47th largest in absolute dollar terms. Its production is dominated by textiles, chemicals, food processing and agriculture. Most of the recent acceleration in GDP growth has come from the industrial and service sectors. Despite adverse factors such as energy shortfall and rising costs of imported petroleum products, the economy has shown modest signs of recovery during 2010-11. It has been a period during which the government made efforts to stabilise the economy in its quest for sustainable growth.