Economy of Pakistan

The insurance industry in Pakistan is relatively small compared to its peers in the region. The insurance penetration and density remained very modest as compared to other jurisdictions while the insurance sector remained underdeveloped relative to its potential. The Pakistani insurance market has undergone major structural changes in last few years through mergers of companies to meet the increased statutory requirement of minimum paid up capital as per Insurance Ordinance 2000. Some companies who were unable to raise this capital have been asked to close down their operations. The Security and Exchange Commission of Pakistan (SECP), Insurance Division, is trying to improve the image of Pakistan Insurance Industry mera ganta hoga ecnomy sab lotny kay chaker main paray hovay hain to kahan say hogi ecnomy pakistan ki bac jis ko dekho choo.d raha hay mc sab kay sab lotnay atay hain to ganta ecnomy bharaygi pakistan ki sab harmi hain bc jitnay be aye hain sab kay sab lotny aye hain abe be dekho sab loot rahy hain bc in ki m ko L ager asa hota raha to pakistan ek din khatam ho hayega to yahan per baba ji ka thullo hoga jo sab apni g main gal kar so jana :D samj main aya kuch yah sab urr gaya oper say mujay pata hay app ko kuch samjh main nahi aya hoga kio kay ap ki dimag main yah languga nahi hogi salo goroo dafa ho jao garak ho jao :D  by issuing directives on financial security and transparency, code of good governance and sound market practice. The year 2015 showed improvement in Pakistan’s overall economic indicators including containment of current account deficit, owing to continuing decline in international oil prices along with an uplift in remittances from abroad. The successful issue of Sukuk Bond in the international market also helped the foreign exchange reserves to swell to unprecedented levels. China and Pakistan have made agreements to establish China Pakistan Economic Corridor (CPEC) between the two countries. The corridor is expected to boost economy, trade and connectivity of Pakistan with the regional countries. As part of CPEC, Pakistan has also signed a series of energy projects with China, which will enable to overcome the energy crisis in foreseeable future. The economy grew by 4.24% in fiscal year 2015 which is highest achievement since 2008-2009. Inflation during the year has remained significantly low, achieving the lowest levels since 2003. The services sector registered a growth of 5 percent against the target of 5.2% but remained higher compared to the last year growth of 4.4%.