The Economic Survey of Pakistan 2023-24 reveals positive growth in major sectors, with the agriculture sector driving overall economic recovery. Total revenue collection surpasses expenditure, while inflation shows a declining trend. Additionally, the NEC approves a five-year national development plan to promote economic growth.

Pakistan is set to release its Economic Survey 2023-24 document, highlighting major socio-economic achievements. The government aims to present ambitious fiscal targets in the 2024-25 budget to secure a new bailout deal with the IMF. Talks are ongoing, and Pakistan is seeking a loan of $6-8 billion to prevent economic default.

The Economic Survey of Pakistan for FY24 will be launched by Finance Minister Senator Muhammad Aurangzeb. It will provide comprehensive details on socio-economic developments, trends, and major economic indicators. Despite challenges, the economy grew by 2.4%, driven by agriculture. Revenue collection surpassed expenditure growth, and inflation rates have been declining. (Source: Pakistan Today)

Declan Rice believes England can make history at Euro 2024, aiming to secure their first major trophy since the 1966 World Cup. He emphasizes unity and hopes for nationwide support, expressing gratitude for the opportunity to represent his country. Prince William visited the team to wish them luck.

Pakistan’s rice export industry is poised to reach $4 billion, with exports already surpassing $3.5 billion. The sector’s success is attributed to a bumper crop of nine million tons of rice, expansion into new markets, and strong partnerships with global players. Pakistani rice suppliers are known for their exceptional taste and quality, making them leaders in the industry.

The government’s rice auction in Thailand has attracted a record number of eight companies, surpassing expectations and highlighting the increasing demand for Thai rice in international markets. The auction aims to release 15,000 tonnes of 100% Thai hom mali jasmine rice, leftover from the controversial rice pledging scheme. The list of qualified bidders will be released on June 13, with winners expected to be announced on June 21. The auction is projected to generate approximately 270 million baht in revenue and boost Thailand’s rice export industry.

Indonesia’s rice production in June and July is expected to decline due to a shortage of rainfall in the previous year, causing an estimated drop in production compared to last year. The country’s food agency imports rice and reports a decrease in domestic production, highlighting potential implications for food security.

Pakistan’s humiliating loss against India in the T20 World Cup 2024 game has put them at risk of elimination. Former players, Shoaib Akhtar, Michael Vaughn, and Irfan Pathan, have expressed their disappointment in Pakistan’s performance, highlighting their lack of intent and self-belief. However, Pakistan still has a slim chance to qualify for the Super 8 stage if they secure victories against Ireland and Canada with good margins and receive help from Ireland and India. Source: BRecorder

The Competition Commission of Pakistan (CCP) has signed a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR) to strengthen bilateral cooperation in competition law and policy, marking a significant step in their partnership.

The International Monetary Fund (IMF) is urging Pakistan to increase tax collection and implement an agricultural tax to address low taxation in the country’s agricultural sector. The IMF is also calling for enhanced provincial taxation through the national tax council and the full collection of taxes on properties and sales services at a provincial level. Furthermore, the IMF recommends strict anti-corruption measures and the establishment of a public asset disclosure portal in the upcoming budget.