In Pakistan, there is a substantial increase in the investment ratio to 18.1 percent in 2004 through an average of 16.8 percent in 2002-03, the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) says in its latest report. The report said Pakistan's economy grew at 6.4 percent in 2004 against 5.1 percent during the previous year. Unlike the broad-based growth in 2003, much of the growth in 2004 was concentrated in the industrial sector, which achieved robust growth of 13.1 percent in 2004, owing to large-scale manufacturing and electricity and gas distribution, the report added.
It further said the growth of large scale manufacturing at 18.1 percent was the fastest in the last three decades and was helped by an accommodative monetary policy, global recovery which fuel led export growth, supportive changes in the government regulations and increased development expenditure.
Growth in the services sector remained relatively stable at around five percent in 2002-04, the report said.
"Growth in the agriculture sector slowed to 2.6 percent in 2004 as compared with 4.1 percent in the previous year, owing to bad weather that reduced the wheat harvest and a pest problem affecting the cotton crops," the report added.
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