KARACHI: Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF), has reported a cautious recovery in Pakistan's economy, with a GDP growth rate of 3.70 percent for the fiscal year 2025-26. Despite recent floods, the national economy's total volume has exceeded $452 billion for the first time, showing improvement from the previous $405 billion. Hussain emphasized the need for further focus on innovation, investment, and development to achieve higher growth rates.

According to Pakistan Businessmen and Intellectuals Forum, the agricultural sector reported a 2.89 percent growth, aided by increases in wheat, sugarcane, and rice production. The livestock sector also showed steady growth. However, challenges such as climate change and weak crop performance persist, necessitating modern technology adoption and improved water management. The industrial sector experienced a 3.51 percent growth, with significant surges in the automobile and transport equipment industries. Yet, high production costs and reliance on imported raw materials continue to challenge local industries.

Hussain expressed concern over a 5.6 percent decrease in exports and a 12 percent increase in imports within 11 months. In contrast, workers' remittances grew by 9.2 percent. The services sector expanded by 4.09 percent, with notable growth in the Information and Communication sector. Despite a slight increase in per capita income, there is a need to enhance income opportunities and social security measures to make improvements more evident. Hussain called for sustainable economic recovery through private sector encouragement, export enhancement, and fiscal discipline, with a balanced enforcement of the FBR's powers to ensure a stable and competitive economy.