The Pakistani government forecasts a 5% future growth rate, which is one of the highest in Southern Asia. Pakistan's poverty rate increased to 5% in 2020, up from 2.3% in 2018. The COVID-19 pandemic is one of the primary causes of the country's economic decline.
As the Pakistan Rupee depreciates year after year, the PPP, or purchasing power parity, is nearly 1 trillion USD. The depreciation of the Pakistan Rupee will make the country an attractive destination for foreign investment, as iconic brands will be eager to pay employees lower wages.
The government is very interested in raising the standards of the EV, Biomedical, Electromagnetic, and Semiconductor industries. Apart from Lahore and Karachi, Pakistan's new emerging PDC or Pakistan Digital City "Haripur" is rapidly developing as Samsung and Realme launch their manufacturing lines in the country.
According to a World Bank and International Finance Corporation report, Pakistan is ranked 108th out of 190 countries for ease of doing business. Because doing business in the country is simple, most automakers, including Renault, Hyundai, Kia, and Volkswagen, intend to expand there.
After a 30-year hiatus, Exxon Mobil, America's largest oil and gas drilling company, has restarted an offshore drilling project in Pakistan.
Some developed countries, such as Qatar, have pledged to invest 3 billion USD in direct investments to boost foreign-exchange reserves.
Pakistan ranks 117 in terms of average internet speed, with mobile download speeds averaging 19.90 Mbps and fixed broadband download speeds averaging 11.72 Mbps. The upload speed in mobile is 11.51 Mbps and 10.33 Mbps in fixed broadband.