Pakistan’s GDP to grow by 3.2%

Pakistan’s economy will probably expand 3.2 per cent in the fiscal year through June 2012, lower than a previous forecast of 4 per cent, the nation’s statistics office said in a preliminary estimate released on Friday. Gross domestic product increased 3 per cent in the 2010-2011 financial year, more than an earlier report of 2.4 per cent, following a change in the base year for calculating the pace of expansion, the Pakistan Bureau of Statistics also said. “Growth will remain subdued this fiscal year,” said Khalid Iqbal Siddiqui, the head of research at Karachi-based United Bank.