Pakistan Economic Growth Hits 20 Year High

Pakistan’s big textile sector, which grew more than 24 per cent, led the rise in large-scale manufacturing. Textile investors are estimated to have poured up to $6bn (A$4.7bn, A$3.3bn) into the sector in the five years to the end of 2004. The Karachi stock exchange’s 100 share index closed 1.6 per cent higher, spurred mainly by yesterday’s growth figures. Western economists said Pakistan’s economic recovery had improved prospects for domestic and foreign investors, although foreign investors were still wary…