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The real economic challenge - 94% of Pakistani's unware of GDP

Norwegian

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This is why the government must continue to focus on the sorts of governance where change can be seen and felt. For example, road resurfacing, gutters, painting buildings, and most importantly inflation, especially with food and energy.

The vast majority of the electorate is completely unaware of economic terms and their impact.
This is why past govts only focused on where change can be felt and turned into votes, bankrupting country's economy over and over again
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The people know from experience that every government tries to highlight its economic successes, but they can only judge by whether they themselves are better off or not, no matter what the government says or claims.
So you want govt to make people better off by bankrupting the country over and over again?
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But that's how it worked in Pakistan (since the mid-1970s). The PPP used state-owned properties to feed its backers, and the PML used loans to subsidize its "businessmen's" imports (by artificially propping up the PKR so that those imported goods are competitively priced). As a result, we have debt and inefficient SOEs.
So? This strategy successfully turned into votes while bankrupting the country over and over again. Don't you support democracy? 😂
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And the "hun saadi vari hey!" syndrome to loot as much as possible while in power till the next government takes over and does the same things to benefit their own backers. Until the next change.
Yes it's a vicious cycle. But hey Pakistanis love democracy right no matter the cost?
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Norwegian

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@313ghazi , lack of education is a national misery for us, and on top of that, statistics and economics are one of the least involving topics. It is not that these topics are not reported by the government or they are not discussed in the media, their dryness and lack of impact keeps people from watching them or even trying to comprehend when they do not make sense.

But does that mean people who are unaware of national GDP growth are not contributing to it? Will a greater awareness about GDP improve GDP or per capita income? Education, in general, would benefit everyone - true - but knowing what statistical and economic figures are running this month would not affect common people on the street.
Yes it's very important to know and understand what the real gdp is. Pmln mafia boasted 5,8 percent gdp growth in 2018 while at the same time, country was witnessing more than 6 percent record current account deficit! So whatever "growth" there was, was based on import consumption with money Pakistanis didn't have. That's why next year 2019 growth rate was lowest in Pakistan's history as the 2018 growth rate was completely artificial and unsustainable
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Trango Towers

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View attachment 752294
Yesterday: Why study macro economics? I will never use it.

Today: Imran Khan destroyed economy, country is headed in the wrong direction 😂
View attachment 752295
Yet 100 percent of Pakistanis are in shock that a million sperm and you won
 

Norwegian

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Pakistanis love democracy and dictatorships equally, distributing sweets when they are elected and when they are imposed, and dismissed.
So Pakistanis neither love democracy nor dictatorship. What they actually love is political dramas and instability
 

VCheng

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So Pakistanis neither love democracy nor dictatorship. What they actually love is political dramas and instability
None of that. They would love some social development, little things like education, health and facilities. They celebrate change in the hope of the next disappointment.
 
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nahtanbob

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I was reading this article in the Tribune, not sure the scale of the survey but I suspect the figures are accurate. The headlines;
  • As much as 94% respondents said that they did not know about the GDP growth rate.
  • According to 91% respondents, they were not aware of current account deficit - the gap between external receipts and payments.
  • About 97% respondents said that did not know about the fiscal deficit - the gap between government revenues and expenditures,
  • Also for 98% respondents, the per capita income was an alien terminology.
  • The government ministers often boast about booming stock exchange but 91% respondents do not know about it.
  • foreign exchange reserves. Around 97% respondents said they are unaware about it.


This is why the government must continue to focus on the sorts of governance where change can be seen and felt. For example, road resurfacing, gutters, painting buildings, and most importantly inflation, especially with food and energy.

The vast majority of the electorate is completely unaware of economic terms and their impact.
current account deficit is a term unique to Pakistan and PDF
 

Dalit

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Aunties are too busy watching serial drama's. Learning how to even scores with bahu. Uncles are too busy ripping off customers and trying to become rich overnight. The children are languishing on streets and religious seminaries. The leaders are living in their gated communities. How would anyone know what GDP means?
 
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Enigma SIG

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The people know from experience that every government tries to highlight its economic successes, but they can only judge by whether they themselves are better off or not, no matter what the government says or claims.
Can't blame the government when people themselves don't have vision. Majority just wants a government job that guarantees a pension and the corruption perks that come along with it.
 

jaibi

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Economics is an alien language to many people especially in Pakistan due to our education system. However, one also has to look into the dubiousness of economic measurements, Pakistan, like much of the world is facing an imbalance of wealth distribution and our economic culture is in dire need of revisal.
How does a Pakistani compute economics is directly tied to the cost of living which is why our people focus on the tangibles.

I was reading this article in the Tribune, not sure the scale of the survey but I suspect the figures are accurate. The headlines;
  • As much as 94% respondents said that they did not know about the GDP growth rate.
  • According to 91% respondents, they were not aware of current account deficit - the gap between external receipts and payments.
  • About 97% respondents said that did not know about the fiscal deficit - the gap between government revenues and expenditures,
  • Also for 98% respondents, the per capita income was an alien terminology.
  • The government ministers often boast about booming stock exchange but 91% respondents do not know about it.
  • foreign exchange reserves. Around 97% respondents said they are unaware about it.


This is why the government must continue to focus on the sorts of governance where change can be seen and felt. For example, road resurfacing, gutters, painting buildings, and most importantly inflation, especially with food and energy.

The vast majority of the electorate is completely unaware of economic terms and their impact.
Heard a joke once saying 'GDP Pakistan vich da matlab air force ya Ghar da Panga' (GDP in Pakistan means either the air force or the household fight levels'.
Aunties are too busy watching serial drama's. Learning how to even scores with bahu. Uncles are too busy ripping off customers and trying to become rich overnight. The children are languishing on streets and seminaries. The leaders are living in their gated communities. How would anyone know what GDP means?
 

Dalit

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Economics is an alien language to many people especially in Pakistan due to our education system. However, one also has to look into the dubiousness of economic measurements, Pakistan, like much of the world is facing an imbalance of wealth distribution and our economic culture is in dire need of revisal.
How does a Pakistani compute economics is directly tied to the cost of living which is why our people focus on the tangibles.


Heard a joke once saying 'GDP Pakistan vich da matlab air force ya Ghar da Panga' (GDP in Pakistan means either the air force or the household fight levels'.
I wonder how Pakistanis cast their vote? If the vote isn't given on the basis of merit such as economic policy and manifesto how do the vast majority of Pakistanis who have zero understanding of economics cast their vote?
 

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I wonder how Pakistanis cast their vote? If the vote isn't given on the basis of merit such as economic policy and manifesto how do the vast majority of Pakistanis who have zero understanding of economics cast their vote?
They cast vote on Khota Biryani
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jaibi

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Mostly on populism, they vote for the personality they like. Second factor is ethnicity. The media in Pakistan has made everyone think of everything politically rather than from a civics point of view.
I wonder how Pakistanis cast their vote? If the vote isn't given on the basis of merit such as economic policy and manifesto how do the vast majority of Pakistanis who have zero understanding of economics cast their vote?
 

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