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Pakistan’s GDP growth pegged at 3% by ADB for this financial year – SUCH TV
The Asian Development Bank (ADB) has released its Asian Development Outlook report for the current fiscal year 2025-26. In the report, the ADB maintained Pakistan’s Gross Domestic Product (GDP) growth forecast at 3 percent for the ongoing fiscal year.
The report also indicated that both inflation and GDP growth are likely to remain below earlier projections.
According to the report, GDP growth in July was projected at 3 percent.
In contrast, the federal government had anticipated a GDP growth of 4.2 percent for the current fiscal year.
The ADB report further noted that Pakistan’s inflation rate is expected to reach 6 percent during this fiscal year.
Previously, in its July 2025 report, the ADB had predicted an inflation rate of 5.8 percent.
Meanwhile, the federal government has projected the inflation rate at 7.5 percent, but recent floods have disrupted food supply chains, putting additional pressure on prices.
In response, the State Bank of Pakistan (SBP) has implemented precautionary measures in its monetary policy to manage the situation.
The report said that due to comprehensive economic reforms, Pakistan’s economic condition has become stable.
Pakistan is implementing the conditions of the International Monetary Fund, but Pakistan has to take measures to tackle the challenge of climate change.
Continuation of policies is essential for economic growth.
The trade accord between Pakistan and USA will also pave the way for strengthening trade activities in the country.
At a meeting of the local authority’s executive on Tuesday, MacBeath said the scheme aimed to move beyond emergency aid by helping families become more financially “resilient”, offering advice on managing money, accessing benefits, reducing debt and finding work.
People with lower incomes benefitted less from the house-buying scheme than those with high incomes, the influential think tank says.
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Lucid electric vehicles are seen at the New York International Auto Show on April 2, 2026.
Danielle DeVries | CNBC
Lucid Group has named the former chairman and CEO of Schindler Group, an industrial manufacturer of escalators and elevators, as its new chief executive.
Silvio Napoli, who spent nearly 31 years at Schindler, is set to become the all-electric vehicle maker’s second CEO following the abrupt departure of Lucid founder Peter Rawlinson in February 2025.
Interim CEO Marc Winterhoff will remain with the company as its chief operating officer once Napoli takes the reins, according to Lucid. A company spokesman said Napoli is expected to begin as CEO in the coming weeks, pending completion of his relocation from Switzerland and U.S. visa process.
Shares of Lucid fell roughly 5% in midday trading, as the company also announced expanded investments Tuesday of $750 million from an affiliate of Saudi Arabia’s Public Investment Fund — its largest shareholder — and Uber Technologies.
The latter is an expansion of a previously announced tie-up with Uber that includes the ride-hailing company investing another $200 million in Lucid. Uber has also agreed to purchase at least 35,000 Lucid vehicles designed exclusively for use as part of Uber’s future global robotaxi service. That’s up from $300 million and 20,00 vehicles announced in July.
The PIF-backed investment is $550 million, according to Lucid.
Napoli, who also serves on the board of American-Irish multinational power management company Eaton Corp., has not previously led an auto company before, while Rawlinson and Winterhoff are automotive veterans.
The company said Napoli’s “deep operational expertise, financial discipline and track record of leadership in innovation” would position Lucid for its future growth plans, including upcoming midsize EVs and new autonomy initiatives.
“His expertise in capital allocation, operational efficiency and translating advanced technology into consistent high-quality performance over time will be critical as Lucid continues to scale and execute its strategy,” Lucid Chairman Turqi Alnowaiser said in a statement.
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