Google's Bias

[Adux]

You'll agree with me that Pakistan took best advantage of 9/11, no matter how you look at it, it put us back on the road and today we're in top order of fastest growing economies.

As long as US aid is there, you are right. Pakistan has a long ways to go, and i dont trust Musharraf's economic figure's
Anyways I agree Pakistan made the right choice after 9/11

 

[Neo]

We can agree to disagree, it won't change the truth anyway.
Cheers!

Oh btw, economic growth this years is claimed to be 7% by the government. I bet it will be increased to somewhere around 8% when all the data is processed, be prepared.
We had a bumper crop, 7.2% growth in major crops and 8.8% in LSM against 7.2% inflation while record FDI and remittance was cashed this year.

 

[Adux]

Growth may touch 10% and the inflation is down at 4.8% here..naa annanan annnaa you cant catch me

 

[Contrarian]

We can agree to disagree, it won't change the truth anyway.
Cheers!

Oh btw, economic growth this years is claimed to be 7% by the government. I bet it will be increased to somewhere around 8% when all the data is processed, be prepared.
We had a bumper crop, 7.2% growth in major crops and 8.8% in LSM against 7.2% inflation while record FDI and remittance was cashed this year.

Neo tell me one thing, Pakistan has consistently had a VERY high inflation, correct me if i am wrong, for the past two years the average has been 9%.

Now while having such a high inflation, if Pakistani economy grows at say 7% or 8%, will it matter much?

There has been such a big hue and cry over inflation just crossing 6% mark in India. PM, etc get concerned. Now its back to under 5 %. Having a low inflation and then posting high growth shows a more stable economy, an economy which has the capacity to aconomodate the high growth essentially.

 

[Neo]

Malay, not the growth but the figures are being questioned here. South Asian governments have the annoying habbit of chest thumping and throwing growth related figures in every single public speach.

Inflation in Pakistan fluctuates between 7 and 8% which is quite normal for an economy which is bouncing back from years of low growth or even a few years of recession. Remeber that Pakistan is a consumers market, growing middle class, 30 million strong is causing hike in demand as the disposalble incomes are increasing. Unfortunately its the poor who'll face the hardship the most in terms of infaltion.

The total volume of the GDP grew at 7%, a direct result of higher output in agriculture and LSM (Large Scale manufacturing), it is unralated to inflation.

About the decreasing poverty rate, I can say that the figure is around 25% and decreasing fast due creatin of jobs, reportedly between 0.8-1.0 million a year! Average family in Pakistan consists of 6-7 members, official minimum wage is fixed at 6.000 rupees per month. If you count 1.0 million recruits into the laborforce it means atleast 167.000 families or 6.0-7.0 million people are lifted from poverty. Ofcourse not all the jobs are low end, atleaset half of them will be occupied by skilled people leaving the other half for the poor.
So per my theory atleast 1-2 million people are being lifted from poverty every year. I don't care if its 23% or 25%, the figure is decreasing and thats what really matters.

 

[Neo]

You'll notice slower growth in PPP scale, this is well related to high inflation. PPP scale gives a more credible picture of actual affects of growth in comon society.

 

[Always Neutral]

You'll agree with me that Pakistan took best advantage of 9/11, no matter how you look at it, it put us back on the road and today we're in top order of fastest growing economies.

Dear Neo,

On a serious note what are your views on Pakistan being too dependent on USA being a large factor on Pakistans economic revival ?

Will they be as generous if say in the next elections the Islamic Parties took over ?

Would appreciate your comments ?

Regards

 

[Adux]

Neo tell me one thing, Pakistan has consistently had a VERY high inflation, correct me if i am wrong, for the past two years the average has been 9%.

Now while having such a high inflation, if Pakistani economy grows at say 7% or 8%, will it matter much?

There has been such a big hue and cry over inflation just crossing 6% mark in India. PM, etc get concerned. Now its back to under 5 %. Having a low inflation and then posting high growth shows a more stable economy, an economy which has the capacity to aconomodate the high growth essentially.

Inflation is eating Pakistan's growth, But yes poverty reduction is taking place. Pakistan is getting a lot of FDI from Arab countries. There is only so much they can provide. Arab though have the reserves have never implemented social programs in their own state's. They have started to do so now.

Pakistani economy is dependent upon US aid. The moment it stops in the near future will have serious impact on the Economy. If they can keep the US Aid for the next decade, You will have stable pakistani economy.
Another contention that I have, is that I dont believe Musharaf's figure's. Is Pakistan Progressing Yes, Is it progressing as much as Mushraf says NO.

 

[Bull]

They have American oil companies; they keep the price low and make uncle sam happy.

US is reeling under high oil prices..wtf are u saying.

 

[Bull]

we are an American ally on WOT.

Dont make me say it man. Ally is not the word.

 

[A.Rahman]

US is reeling under high oil prices..wtf are u saying.

Its becoming hard to keep prices unde control because of Iraq.

Saudi Arabia pledges to fight rising oil prices

WASHINGTON (CNN) -- With OPEC planning to cut oil production, Saudi Arabia's ambassador to the United States met Thursday with national security adviser Condoleezza Rice and said Riyadh is committed to heading off problems in the world energy market.

"We will not allow shortages in the market because that will hurt the world economy, and Saudi Arabia does not live on the moon: When the world economy gets hurt, we get hurt also," Prince Bandar bin Sultan said after the White House meeting.

The prince said he conveyed a message from Crown Prince Abdullah for President Bush during the meeting.

"The president and the crown prince have been in touch on this subject for a while now. Both leaders feel strongly that higher energy prices have a negative impact on world economy," he said.

Bandar said Saudi Arabia would not allow oil shortages to cause an increase in prices.

He said Saudi Arabia, OPEC's most influential member, wants the price of oil per barrel to be between $22 to $28.

The 11-member Organization of the Petroleum Exporting Countries agreed Wednesday to cut production by as much as 1 million barrels per day in April, which would make oil prices soar on the world market. (Full storyexternal link)

The Bush administration sharply criticized OPEC's plan. (Full story)

"The president is disappointed in today's decision," White House press secretary Scott McClellan said at the time. "Producers should not take steps that harm American consumers and our economy."

Nationwide, the average price for a gallon of self-serve unleaded gasoline is at an all-time high of $1.77, according to a recent survey. (Full story)

Gas prices have quickly become a hot issue on the campaign trail.

Presumptive Democratic nominee Sen. John Kerry blames the White House's policies and its close relationship with oil companies for contributing to the high cost at the pump.

Kerry released a statement Wednesday night saying that because of what he called Bush's "arrogant foreign policy, the United States has lost credibility in the world." (Full story)

For its part, the Bush-Cheney campaign says Kerry once supported a 50-cent hike in the federal gasoline tax. (Full story)

 

[Bull]

Its becoming hard to keep prices unde control because of Iraq.

Saudi Arabia pledges to fight rising oil prices

You said this.

They have American oil companies; they keep the price low and make uncle sam happy.

 

[A.Rahman]

You said this.

what I meant was to keep as low as possible

 

[Bull]

what I meant was to keep as low as possible

How do they do that?

 

[Adux]

I love it when I can a sense a Financial Analyst about to rape poor un-knowing prey....