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    Default OT- Pakistan most improed economy in Asia!

    hi Brothers,

    Saw this article on the net.... while not auto related, it talks of economies. so thought i should share it with everone here. Feel proud

    AH

    Imran



    Hong Kong and Singapore, the economic jewels of Asia, are the world's freest economies, according to the 12th annual Index of Economic Freedom, released by The Heritage Foundation and The Wall Street Journal on Wednesday.

    India, however, is way behind at 121st spot in a list of 157 countries graded in the 2006 Index of Economic Freedom.

    Even Botswana (30), Pakistan (110), China (111), Belize (55), Mongolia (61), Uganda (66), Bolivia (67), Cambodia (68), Lebanon (73), Swaziland (79), Lesotho (99), Zambia (112), Mozambique (114), Cameroon (120) are ahead of India in terms of economic freedom.

    Meanwhile, in the overall ranking Ireland overtook Luxembourg and Estonia and moved up to No. 3, and Iceland moved up three spaces to No. 5, where it is tied with the United Kingdom.

    The Most Free

    Hong Kong (1st)

    Singapore (2nd)

    Ireland (3rd)

    Luxembourg (4th)

    Iceland (5th)

    United Kingdom (5th)

    Estonia (7th)

    Denmark (8th)

    Australia (9th)

    New Zealand (9th)

    United States (9th)



    The United States improved enough to re-enter the top 10 after falling out last year for the first time ever. It's tied for 9th worldwide with Australia and New Zealand.

    The world is economically freer today than it was a year ago which means greater prosperity for those countries that embrace open markets.

    The Index findings are straightforward, according to editors Marc A Miles, Kim R Holmes and Mary Anastasia O'Grady. 'The countries with the most economic freedom also have higher rates of long-term economic growth and are more prosperous than are those with less economic freedom,' the report says.

    The Least Free

    Turkmenistan (148th)

    Laos (149th)

    Cuba (150th)

    Belarus (151st)

    Libya (152nd)

    Venezuela (152nd)

    Zimbabwe (154th)

    Burma (155th)

    Iran (156th)

    North Korea (157th)



    Of the 157 countries graded in the 2006 Index, 99 improved their overall scores, compared to 51 whose scores worsened and five that remained unchanged. Overall, 20 are classified as 'free,' 52 as 'mostly free,' 73 as 'mostly unfree' and 12 as 'repressed.'

    Countries receive a 1-5 rating -- with one being the best -- on 10 broad measures of economic freedom: trade policy, fiscal burden of government, government intervention in the economy, monetary policy, capital flows and foreign investment, banking and finance, wages and prices, property rights, regulation and informal (or black) market activity.

    Those scores are averaged to create an overall score. The top finishers are classified as free economies, followed by mostly free, mostly unfree and repressed economies.

    The links between countries that embrace economic freedom and prosperity are long established. Those in countries with 'mostly unfree' or 'repressed' economies earn 70 percent less than those in countries with 'mostly free' economies, the Index editors say. And those in 'free' economies enjoy a per capita income more than twice what those in 'mostly free' economies earn.

    Here are the economies that have made the greatest changes since the 2005 Index:

    Top 10 Improved (Score Change)

    Pakistan (0.40)

    Romania (0.39)

    Kyrgyz Republic (0.35)

    Suriname (0.33)

    Armenia (0.32)

    Turkmenistan (0.32)

    Georgia (0.31)

    Turkey (0.30)

    Tajikistan (0.29)

    Kazakhstan (0.26)



    Over the last 10 years, more and more countries have embraced policies that promote economic freedom. As a result, this year the average Index score falls into the 'mostly free' (2.98; the cutoff is 3) category for the first time -- although the median score (3.04) remains just over the line in the 'mostly unfree' category.

    Sadly, this message doesn't seem to get through where it's needed most. The prosperous countries of the North America/Europe region -- spurred by rapid moves toward economic freedom by the former Soviet republics -- show consistent improvement. But regions such as Latin America, the Middle East and Sub-Saharan Africa, which, to its credit, continues to improve on its Index scores -- continue to lag behind in prosperity because of the protectionist economic policies of their governments.

    Top 10 Worsened (Score Change)

    Iran (0.30)

    Italy (0.22)

    Guinea (0.22)

    Bolivia (0.21)

    United Arab Emirates (0.20)

    Oman (0.20)

    Equatorial Guinea (0.16)

    Sri Lanka (0.16)

    Egypt (0.16)

    El Salvador (0.15)

    Nicaragua (0.15)



    North America and Europe

    The world's most economically open region holds seven of the world's 11 freest economies and 15 of the top 20. Thirty-three countries, led by Austria, Germany and Cyprus, which joined the ranks of 'free' economies, improved their scores; only 10 declined. Romania was the region's most improved country and the world's second most improved, and Georgia joined the ranks of 'mostly free' economies for the first time. The region received a boost when the 10 eastern European countries that joined the European Union in May 2004 adopted its more open trade policies (albeit unevenly) and improved as a result. Belarus remained last in the region in economic freedom.

    Latin America and the Caribbean

    Economic freedom improved marginally this year with 15 countries improving on their Index scores and only 10 declining. Chile, the region's most dynamic economy, remains its only member of 'free' economic club. The region also includes three 'repressed' economies -- Cuba (which showed some improvement), Haiti and Venezuela. It also includes three countries among the 10 that showed the biggest declines this year -- Bolivia, El Salvador and Nicaragua, which slipped from the 'mostly free' to the 'mostly unfree' category.

    North Africa and the Middle East

    The only region to experience a net decline in economic freedom in last year's Index, North Africa and the Middle East saw another decline this year as seven of 11 countries recorded worse scores. Bahrain declined for the second straight year but remained the freest in the region despite deriving 80 percent of its revenues from the state-controlled oil company. Iran and Libya remain the two least-free economies, but they're moving in different directions. Libya is still consider 'repressed' due to state-dominated industry, trade protectionism and heavy regulation, but it was the most improved in the region for the second straight year, thanks to better scores in fiscal burden of government, capital flows and foreign investment and banking and finance. Iran, meanwhile, continued its downward spiral -- it recorded its lowest score since 2002 -- because entrenched bureaucrats and Islamic hard-liners continue to conspire against reform.

    Sub-Saharan Africa

    The region still lacks a free economy, but one, Botswana, did vault into the world's top 30, with improved scores on government intervention and fiscal burden of government. Regional improvement did continue, with economic freedom advancing in 25 countries and declining in just 12. Angola and Burundi were ranked in the Index for the first time. Benin was the region's most improved, while Guinea suffered the biggest decline.

    Asia-Pacific

    This region remains a study in contrast. Hong Kong and Singapore continue to lead the world in economic freedom, and the region includes four of the nine freest economies. In all, 19 countries in the region improved their Index scores from 2005, and just nine declined. Also, four Asia-Pacific countries -- Pakistan, Kyrgyz Republic, Turkmenistan and Kazakhstan -- are among the 10 most improved. Uzbekistan and Tajikistan no longer qualify as 'repressed.' But the region also is home to more 'repressed' economies than any other, including last-place-finisher North Korea.

    Following is the overall ranking:

    Rank Country
    Overall
    Score

    1
    Hong Kong
    1.28

    2
    Singapore
    1.56

    3
    Ireland
    1.58

    4
    Luxembourg
    1.60

    5
    Iceland
    1.74

    6
    United Kingdom
    1.74

    7
    Estonia
    1.75

    8
    Denmark
    1.78

    9
    Australia
    1.84

    10
    New Zealand
    1.84

    11
    United States
    1.84

    12
    Canada
    1.85

    13
    Finland
    1.85

    14
    Chile
    1.88

    15
    Switzerland
    1.89

    16
    Cyprus
    1.90

    17
    Netherlands, The
    1.90

    18
    Austria
    1.95

    19
    Germany
    1.96

    20
    Sweden
    1.96

    21
    Czech Republic
    2.10

    22
    Belgium
    2.11

    23
    Lithuania
    2.14

    24
    Malta
    2.16

    25
    Bahrain
    2.23

    26
    Barbados
    2.25

    27
    Armenia
    2.26

    28
    Bahamas, the
    2.26

    29
    Japan
    2.26

    30
    Botswana
    2.29

    31
    Norway
    2.29

    32
    Portugal
    2.29

    33
    Spain
    2.33

    34
    El Salvador
    2.35

    35
    Slovak Republic
    2.35

    36
    Israel
    2.36

    37
    Taiwan (China, Republic of)
    2.38

    38
    Slovenia
    2.41

    39
    Latvia
    2.43

    40
    Hungary
    2.44

    41
    Poland
    2.49

    42
    Italy
    2.50

    43
    Trinidad and Tobago
    2.50

    44
    France
    2.51

    45
    Korea, Republic of (South Korea)
    2.63

    46
    Cape Verde
    2.69

    47
    Costa Rica
    2.69

    48
    Uruguay
    2.69

    49
    Panama
    2.70

    50
    Kuwait
    2.74

    51
    South Africa
    2.74

    52
    Albania
    2.75

    53
    Madagascar
    2.75

    54
    Jamaica
    2.76

    55
    Belize
    2.78

    56
    Croatia
    2.78

    57
    Greece
    2.80

    58
    Jordan
    2.80

    59
    Macedonia
    2.80

    60
    Mexico
    2.83

    61
    Mongolia
    2.83

    62
    Saudi Arabia
    2.84

    63
    Peru
    2.86

    64
    Bulgaria
    2.88

    65
    United Arab Emirates
    2.93

    66
    Uganda
    2.95

    67
    Bolivia
    2.96

    68
    Cambodia
    2.98

    69
    Georgia
    2.98

    70
    Malaysia
    2.98

    71
    Kyrgyz Republic
    2.99

    72
    Thailand
    2.99

    73
    Lebanon
    3.00

    74
    Bosnia and Herzegovina
    3.01

    75
    Guatemala
    3.01

    76
    Oman
    3.01

    77
    Mauritius
    3.03

    78
    Qatar
    3.04

    79
    Swaziland
    3.04

    80
    Nicaragua
    3.05

    81
    Brazil
    3.08

    82
    Mauritania
    3.08

    83
    Moldova
    3.10

    84
    Senegal
    3.10

    85
    Guyana
    3.11

    86
    Namibia
    3.11

    87
    Turkey
    3.11

    88
    Ivory Coast
    3.14

    89
    Mali
    3.14

    90
    Fiji
    3.15

    91
    Colombia
    3.16

    92
    Romania
    3.19

    93
    Sri Lanka
    3.19

    94
    Djibouti
    3.20

    95
    Kenya
    3.20

    96
    Tanzania
    3.20

    97
    Morocco
    3.21

    98
    Philippines, The
    3.23

    99
    Lesotho
    3.24

    100
    Tunisia
    3.24

    101
    Ukraine
    3.24

    102
    Burkina Faso
    3.28

    103
    Gabon
    3.28

    104
    Honduras
    3.28

    105
    Chad
    3.29

    106
    Ghana
    3.29

    107
    Argentina
    3.30

    108
    Ecuador
    3.30

    109
    Paraguay
    3.31

    110
    Pakistan
    3.33

    111
    China, People's Republic of
    3.34

    112
    Zambia
    3.34

    113
    Kazakhstan
    3.35

    114
    Mozambique
    3.35

    115
    Niger
    3.38

    116
    Dominican Republic
    3.39

    117
    Benin
    3.40

    118
    Central African Republic
    3.41

    119
    Algeria
    3.46

    120
    Cameroon
    3.46

    121
    India
    3.49

    122
    Russia
    3.50

    123
    Azerbaijan
    3.51

    124
    Gambia, The
    3.51

    125
    Nepal
    3.53

    126
    Rwanda
    3.53

    127
    Guinea
    3.55

    128
    Egypt
    3.59

    129
    Suriname
    3.60

    130
    Malawi
    3.63

    131
    Guinea-Bissau
    3.65

    132
    Burundi
    3.69

    133
    Ethiopia
    3.70

    134
    Indonesia
    3.71

    135
    Togo
    3.71

    136
    Equatorial Guinea
    3.74

    137
    Sierra Leone
    3.76

    138
    Tajikistan
    3.76

    139
    Angola
    3.84

    140
    Yemen
    3.84

    141
    Bangladesh
    3.88

    142
    Vietnam
    3.89

    143
    Congo, Republic of
    3.90

    144
    Uzbekistan
    3.91

    145
    Syria
    3.93

    146
    Nigeria
    4.00

    147
    Haiti
    4.03

    148
    Turkmenistan
    4.04

    149
    Laos
    4.08

    150
    Cuba
    4.10

    151
    Belarus
    4.11

    152
    Libya
    4.16

    153
    Venezuela
    4.16

    154
    Zimbabwe
    4.23

    155
    Burma (Myanmar)
    4.46

    156
    Iran
    4.51

    157
    Korea, Democratic Republic of (North Korea)
    5.00

    158
    Congo, (Democratic Republic of)
    -

    159
    Iraq
    -

    160
    Serbia and Montenegro
    -

    161
    Sudan
    -

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    @imranakhtar

    u made my day!

    bravo!
    This Space Intentionally Left Blank.

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    Anytime bro!

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    Hi Imran Bro,

    Very nice article but next-time please also post the exact link to the article as well just for the courtesy sake and to show your appreciation to the hosting site. (Just my thoughts).

    cheers,


    Asad.
    http://www.extnix.com.au

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    Here goes

    http://ia.rediff.com/money/2006/jan/04index.htm?q=tp&file=.htm

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    OT- Pakistan most improed economy in Asia! -626011
    It's been a long journey

  7. #7
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    Very informative indeed. Good job Imran

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    Thanks brother Imran Akhtar. Looking at the Glass Half Full, we are improving and doing better than India, though we are at Number 110, we have one thing that is highly on our side, we have alot to look forward to, climbing 109 steps up, unlike Hong Kong, they must be bored sitting at Number#1 spot and nothing more to do.
    LoL

    Permanent positive change (in your life, or the society) with proper planning occurs slowly. While without planning any change becomes a disaster rather quickly. Said by Whocares...

    I got Turbo fingers... Anyone wants to race me in typing....

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    Quite frankly, I am a little suprised.

    i thought a news like this would generate mkore responses from everyone cause it really is something to be proud of! I know that I was overjoyed when I read this and al my pak friends in london were also proud when they read this article.

    I guess it must be different for u guys living back home in Pak.

    AH

    Imran

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    Since India was dragged into the discussion..Two articles from Paki Daily Times..On the same day...Actually Pakistani Economy is doing well..and best wishes to you...

    These western evaluations are not even worth the paper they are written on..since they are always there to encourage opening of greater market access for western companies..while they haggle even about basic vegetables...However best wishes to Pakistan...

    http://www.dailytimes.com.pk/default.asp?page=2006\01\04\story_4-1-2006_pg5_22
    India shares at new high on fund influx

    MUMBAI: India’s main stock index hit a new peak in a broad-based rally on Tuesday, as foreign funds, lured by the country’s economic prospects, snapped up heavyweights such as Reliance Industries and ICICI Bank.

    The benchmark BSE index ended 1.59 percent higher at 9,539.37 points, off an all-time high of 9,546.78. Gainers beat losers nearly 5 to 1 with 263 million shares traded. The broader 50-issue NSE index gained 1.67 percent to a record closing high of 2,883.35 points. “There was big-time foreign fund buying.

    It is going to be primarily liquidity, which will drive this market from now on,” said Jayesh Shroff, fund manager at Bank of Baroda Mutual Fund, who manages $100 million in Indian shares.

    “If you have got money, you have to buy whatever be the valuations.” The BSE index gained 42 percent in 2005, making it Asia’s best performing major index after South Korea’s KOSPI, as foreign investors moved $10.7 billion into Indian shares.

    http://www.dailytimes.com.pk/default.asp?page=2006\01\04\story_4-1-2006_pg5_13

    Pakistan’s economic growth decelerated in first 5 mths: ADB

    * Says economy to maintain robust growth of 6.5% in FY 2005-6

    Staff Report

    ISLAMABAD: The Asian Development Bank has said Pakistan’s economic growth decelerated and macroeconomic fundamentals, including the balance of payments position, weakened in the first 3-5 months of financial year 2005-06.

    Foreign exchange reserves declined. The prospects of meeting the fiscal deficit target look difficult because of additional expenditure requirements for earthquake relief, rehabilitation, and reconstruction. Inflation declined somewhat, but was still high. GDP growth in FY 2006 is expected to be lower than last year, but still at a robust 6.5 percent

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