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In FY23–24, Pakistan’s per capita income increased to $16680.

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The size of the US economy grew from $341 billion to $375 billion in the current fiscal year, according to figures made public by PBS.

This fiscal year, Pakistanis’ yearly per capita income increased by Rs 90,534; the monthly rise was Rs 7,544.

The official document also said that Pakistan’s per capita yearly income for the year was Rs 475,281, up from Rs 384,747 for the previous year.

The annual income per capita increased by $129 in US dollars.

Pakistanis’ per capita income for the current fiscal year was $1,680 in US dollars, down from $1,551 for the previous fiscal year.

In local currency, the size of the national economy expanded by Rs22,170 billion.

The study cited double-digit inflation as one of the factors contributing to the economy’s notable expansion.

See also: Ahsan Iqbal: Pakistan wants to grow its economy to $3 trillion by 2047.

Pakistan wants to have a $3 trillion economy by 2047, according to Federal Minister for Planning and Reforms Ahsan Iqbal, who made this announcement in April. He also called for more public-private cooperation and a more simplified regulatory environment.

He highlighted the current favorable time for foreign investments in Pakistan, including large promises from China and Saudi Arabia, and stated, “Pakistan is poised to become a $3 trillion economy by 2047, bolstered by a targeted growth rate of 9%.”

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Imran Khan is the sole former Prime Minister to undergo a judicial trial. Omar Ayub

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Omar Ayub, the Leader of the Opposition in the National Assembly and a PTI leader, has asserted that Imran Khan is the sole former prime minister currently facing trial in prison.

Omar Ayub disclosed to the reporters outside the Judicial Complex Islamabad that the Chief Justice had summoned him for a meeting in his capacity as Opposition Leader.

He additionally indicated that upon meeting Imran Khan, he requested permission three times prior to participating in negotiations with the Chief Justice. Imran Khan authorized the meeting, and PTI presented its plan to the Chief Justice, emphasizing human rights and judicial reforms.

He stated that the fundamental rights of Imran Khan and Bushra Bibi are being intentionally infringed upon in prison, as neither he nor their sons are permitted to visit them.

Omar Ayub noted that, unlike other past prime ministers who had trials in open courts, Imran Khan is uniquely facing a trial in prison.

He alleged that the government are perpetrating police violence against PTI workers, asserting that PTI leaders across Punjab, Islamabad, Sindh, and Balochistan are experiencing harassment.

Simultaneously, a hearing concerning nine cases against Omar Ayub took place before the Islamabad Anti-Terrorism Court (ATC). Judge Abul Hasanat Zulqarnain presided over the ATC proceedings.

At the hearing, a defense attorney sought a postponement owing to the absence of senior counsel Dr. Babar Awan. The court granted the request and rescheduled the hearing for April 10.

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More than 10 energy projects are nearing completion in Khyber Pakhtunkhwa.

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PESHAWAR: Secretary of Energy and Power Muhammad Zubair Khan stated that multiple hydropower projects in Khyber Pakhtunkhwa (KP) are nearing completion.

During a high-level assessment meeting, the Secretary of Energy stated that the projects would contribute to the economic stability of the province and the future development of the industrial sector.

In the meeting, the Chief Executive Officer (CEO) of the Pakhtunkhwa Energy Development Organisation (PEDO) reported the completion of seven hydroelectric projects, generating a total of 161 megawatts of electricity and yielding over Rs 4 billion yearly.

CEO PEDO Engr Riaz Ahmed Jan addressed the gathering that 12 energy projects, encompassing hydro, solar electricity, and transmission lines, are currently in progress.

The projects comprise 300 MW Balakot Mansehra, 157 MW Madyen Swat, 88 MW Gabral Kalam, 84 MW Matiltan Swat, 69 MW Lawi Chitral, 40.8 MW Koto Dir, 11.8 MW Krora Shangla, 10.5 MW Chapri Charkhel Kuram, and 6.9 MW Mujahideen Power Project Torghar.

He stated that these projects will produce a total of 778 MW of power, resulting in an annual revenue exceeding 45 billion rupees for the province.

Furthermore, Project Director Solar Engineer Asfandyar reported that the provincial government has finalized plans to convert 8,000 schools, 5,762 mosques, 6,650 houses, 187 primary health units, and government buildings, including the Chief Minister Secretariat, to solar energy across various districts of the province.

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Alibaba pledges to invest $53 billion in cloud computing and AI by 2027.

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Alibaba, the preeminent e-commerce and technology firm in China, declared on Monday a significant investment of 380 billion yuan ($53 billion) on artificial intelligence and cloud computing infrastructure by 2027, representing the company’s most substantial technological commitment to date.

The news follows closely on the heels of Alibaba co-founder Jack Ma’s attendance at a prominent meeting with Chinese President Xi Jinping, indicating a possible thaw in relations between China’s technology sector and regulatory bodies.

This extraordinary investment will exceed Alibaba’s cumulative expenditure on AI and cloud initiatives over the previous ten years, according per company declarations. The program seeks to enhance Alibaba’s technology innovation capabilities and expedite its AI-driven growth plan.

Eddie Wu, CEO of Alibaba, recently emphasised the company’s robust performance, announcing an 8% sales increase to 280 billion yuan for the quarter ending in December, surpassing market forecasts. The announcement prompted a 14% increase in Alibaba’s shares listed in Hong Kong last Friday.

The investment announcement signifies a wider resurgence in Chinese technology stocks, which have surged since early 2024. The resurgence of this sector follows a difficult phase characterised by regulatory scrutiny that commenced in 2020, impacting significant technology firms such as Alibaba and its fintech subsidiary Ant Group.

Recent advancements in China’s AI industry, such as the introduction of DeepSeek’s chatbot, have bolstered investor confidence. This occurs when China’s economy confronts persistent difficulties in consumer expenditure and real estate sectors.

President Xi’s recent meeting with business leaders, during which he described present economic issues as “surmountable,” has been broadly regarded as an endorsement of the private sector, especially the technology industry.

Although particular project allocations are not revealed, Alibaba’s investment plan underscores the company’s commitment to long-term technological progress and the development of AI infrastructure.

The news establishes Alibaba as a leader in China’s artificial intelligence competition, as prominent technology firms globally amplify their investments in AI skills and cloud infrastructure.

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