2004 in Pakistan
Encyclopedia
Pakistan
experienced unprecedented economic growth during FY 2004. Its large-scale manufacturing sector grew at a rate of over 18%. Hard-currency reserves, having grown phenomenally in recent years, reached record levels. GDP
growth reached 8.4% in the twelve months ending June 30, 2004. Pakistan's stock market
has been one of the best-performing stock markets this century, . The government's credit rating was upgraded by Moody's
and Standard & Poor's
. Pakistan announced that it no longer needed International Monetary Fund
(IMF) assistance. The government's economic reforms were praised highly by supranational institutions such as the World Bank
, IMF and the Asian Development Bank
.
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
experienced unprecedented economic growth during FY 2004. Its large-scale manufacturing sector grew at a rate of over 18%. Hard-currency reserves, having grown phenomenally in recent years, reached record levels. GDP
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
growth reached 8.4% in the twelve months ending June 30, 2004. Pakistan's stock market
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
has been one of the best-performing stock markets this century, . The government's credit rating was upgraded by Moody's
Moody's
Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized...
and Standard & Poor's
Standard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
. Pakistan announced that it no longer needed International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) assistance. The government's economic reforms were praised highly by supranational institutions such as the World Bank
World Bank Group
The World Bank Group is a family of five international organizations that makes leveraged loans, generally to poor countries.The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary...
, IMF and the Asian Development Bank
Asian Development Bank
The Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...
.
Politics
- January 1 - Musharraf wins a vote of confidence from the electoral collegeElectoral College of PakistanThe President of Pakistan is chosen by an electoral college, in Pakistan. According to article 41 of the 1973 Constitution of Pakistan, this electoral college consists of the Senate, the National Assembly of Pakistan, and the Members of the Provincial Assemblies. Members of the National Assembly...
, obtaining 658 votes out of 1170, and is deemed to be elected to the office of President. - March 27 - Pakistan ArmyPakistan ArmyThe Pakistan Army is the branch of the Pakistani Armed Forces responsible for land-based military operations. The Pakistan Army came into existence after the Partition of India and the resulting independence of Pakistan in 1947. It is currently headed by General Ashfaq Parvez Kayani. The Pakistan...
troops that battled foreign militants and their local supporters in South Waziristan are winding up their operation. - April 7 - The National AssemblyNational Assembly of PakistanThe National Assembly of Pakistan is the lower house of the bicameral Majlis-e-Shura, which also compromises the President of Pakistan and Senate . The National Assembly and the Senate both convene at Parliament House in Islamabad...
passed the National Security Council (NSC) bill. - April 14 - The SenateSenateA senate is a deliberative assembly, often the upper house or chamber of a legislature or parliament. There have been many such bodies in history, since senate means the assembly of the eldest and wiser members of the society and ruling class...
passed the National Security Council (NSC) bill. - April 19 - President Pervez Musharraf signs the recently passed National Security Council (NSC) Bill, bringing into being the 13-seat NSC.
- April 20 - The National AllianceNational Alliance (Pakistan)The National Alliance was a coalition of Millat Party, Sindh Democratic Alliance, National Peoples Party, and Sindh National Front in Pakistan. It was headed by former Pakistani Prime Minister Ghulam Mustafa Jatoi, who was also the head of his own National Peoples Party .At the 2002 legislative...
announced the merger of the alliance with the unified Pakistan Muslim LeaguePakistan Muslim LeagueThe Pakistan Muslim League was founded in 1962, as a successor to the previously disbanded Muslim League in Pakistan. Unlike the original PML which ended in 1958 when General Ayub Khan banned all political parties, each subsequent Muslim League was in some way propped by the military dictators of...
. - April 22 - The European ParliamentEuropean ParliamentThe European Parliament is the directly elected parliamentary institution of the European Union . Together with the Council of the European Union and the Commission, it exercises the legislative function of the EU and it has been described as one of the most powerful legislatures in the world...
voted in favour of a new trade and cooperation agreement with Pakistan, giving a vital boost to Islamabad's relations with the European Union. - April 27 - The Pakistan Army is reducing its numerical strength by about 50,000 men.
- May 22 - The CommonwealthCommonwealth of NationsThe Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an intergovernmental organisation of fifty-four independent member states...
Ministerial Action Group welcomed Pakistan back into the Commonwealth, noting the restoration of the ConstitutionConstitution of PakistanThe Constitution of the Islamic Republic of Pakistan is the supreme law of Pakistan. Known as the Constitution of 1973, it was drafted by the government of Zulfikar Ali Bhutto and, following additions by the opposition parties, was approved by the legislative assembly on April 10, 1973...
and progress made in rebuilding democratic institutions and restoring democracy.
Economy
- April 15 - Representatives of the provinces agreed to share resources on a multi-factor formula, provided the federal government enhanced their share.
- April 21 - The World Bank expects that poverty will start reducing soon in Pakistan, as the country has surpassed most of the targets set by the bank under its country assistance strategy (CAS).
- April 29 - Pakistan Telecommunication Company Limited (PTCL) earns a net profit of Rs 19.53 bn in the first three quarters of the financial year.
Sports
- March 28 - The ninth SAF Games are launched in an OlympicsOlympic GamesThe Olympic Games is a major international event featuring summer and winter sports, in which thousands of athletes participate in a variety of competitions. The Olympic Games have come to be regarded as the world’s foremost sports competition where more than 200 nations participate...
-style opening ceremony.
Miscellaneous
- January 18 - Pakistani agents arrest seven Al-Qaida suspects and confiscate weapons during a raid in the southern city of KarachiKarachiKarachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
. - March 29 - Indus River System (Irsa) is expected to distribute water among provinces on the basis of historical use.
- April 29 - Major power breakdown all over northern and central PunjabPunjab (Pakistan)Punjab is the most populous province of Pakistan, with approximately 45% of the country's total population. Forming most of the Punjab region, the province is bordered by Kashmir to the north-east, the Indian states of Punjab and Rajasthan to the east, the Pakistani province of Sindh to the...
. - September 9 - About 70 people, believed to be Taliban or Al Qaida militants, are killed when Pakistan's air force jets raid a terrorist training campTerrorist training campA terrorist training camp is a training camp whose purpose is to teach students methods of terrorism. Terrorists train there to launch attacks, ranging from suicide bombing practice to field combat. They are often located in regions for the aims of those conducting the training, or in traditional...
in a tribal region bordering AfghanistanAfghanistanAfghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...
.
See also
- 2003 in Pakistan2003 in Pakistan-March:* The Pakistan cricket team are not happy following their poor performance at the world cup, which led to them being knocked out in the first round. They are fined for their poor performance.-August:...
- Other events of 2004
- 2005 in Pakistan2005 in Pakistan-May:*1 May - Japanese Prime Minister Junichiro Koizumi leaves Pakistan after two days of talks with President Pervez Musharraf and Prime Minister Shaukat Aziz - the first by a Japanese PM for 5 years. At the conclusion of the trip a joint declaration between the two nations announces their...
- Timeline of Pakistani historyTimeline of Pakistani historyAlthough, the land of Indus, as a state gained independence on August 14, 1947, it has a very long history that goes back over thousands of years and it is one of the world's oldest continuously inhabited regions. The Indus Valley was known as Meluhha in Mesopotamia when the Harappan civilization...