The Asian Development Bank (ADB) has forecast a slowdown in South Asia’s economic growth, raising fears of rising inflation in Pakistan.
The rise in prices in Pakistan has been attributed to rising electricity prices and commodity prices in the global market.
According to a statement issued by the Asian Development Bank, the growth rate of South Asian countries is forecast to be 8.6 percent, down from 8.8 percent in September 2021.
In addition, the ADB expects India’s economic growth to slow to 9.7% from 10% in FY 2021, while inflation in India is expected to be 5.6%.
On the other hand, the Asian Development Bank has also approved a loan of کروڑ 200 million for irrigation system in Punjab.
According to sources, the loan will be spent on construction of Chobara Irrigation Canal System in Punjab which will help in supplying water to Bhakkar, Layyah, Muzaffargarh, Jhang and Khushab.