Pakistan $1 Trillion Economy

[ghazi52]

Very tasty and original....

 

[Hyde]

Cars -

Pakistan - 57
India -18

List of countries by vehicles per capita - Wikipedia, the free encyclopedia
WHO | Fast facts
Indian poverty levels higher than Pakistan's, says UN report - Telegraph

Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.

 

[Indus Pakistan]

Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.

Agreed. However Pakistan on the whole comes out better on absolute poverty then India suggesting the extreme poor are better off in Pakistan then their compatriots in India. Hunger is a measure of this and Pakistan does better.

I think we have to get more people in the tax net as that would increase our GDP above and over the per annum growth. It would supplement the growth figures and if this happened we could get to the trillion figure faster then what we have forecasted.

On another note last time I travelled in Pakistan from Peshwar, Islamabad to Lahore, north to Muzzafarabad and south to Faisalabad. To my eyes it did not look like a country that reflected the figures I read in the west. I showed the photographs to my western friends and almost all were surprised. The world thinks of us as dirt poor Somalia with nukes. It is up to us to change the perception of our country ....

 

[xyxmt]

I really hope so mate.

Toronto's GDP is 240 billion, I find it hard to believe that a country as big as Pakistan has same economy as toronto. The only difference is they count for every screw they make here, whereas Pakistan well we know how it is there.

 

[RoadRunner401]

How long it could take us to become $1 Trillion economy if the government works sincerely and what measurements should be taken?

@Pomegranate @Akheilos @DESERT FIGHTER @Stealth @farhan_9909 @save_ghenda @syedali73 @Donatello @Umair Nawaz @A1Kaid

First and most important Invest heavily in education few billion/ yr if not more.

 

[Viper0011.]

How long it could take us to become $1 Trillion economy if the government works sincerely and what measurements should be taken?

@Pomegranate @Akheilos @DESERT FIGHTER @Stealth @farhan_9909 @save_ghenda @syedali73 @Donatello @Umair Nawaz @A1Kaid

I think the topic should be when Pakistan's economy would hit $ 1.5 Trillion. It's very close to $ 1 trillion already. The priority should be to get t $ 1.5 trillion in the next 5-7 years. Which isn't very difficult, but is challenging with the power outage. The Chinese trade corridor alone will have $ 250-300 billion additional revenue every year once its all setup. Another $ 50-75 billion worth of investments (majority from inside Pakistan), are expected associated to the real estate, hospitals, schools, businesses which will open up around the trade route and will help expand the economy further.
So really the topic should be when to get to $ 1.5 trillion.

 

[RoadRunner401]

Toronto's GDP is 240 billion, I find it hard to believe that a country as big as Pakistan has same economy as toronto. The only difference is they count for every screw they make here, whereas Pakistan well we know how it is there.

Sorry bro, but Toronto the fifth largest city in North America and an economic powerhouse in Canada, generating $157 billion in 2013 and 148 billion 2014 or 10 per cent of Canada’s GDP.

 

[A1Kaid]

I have been to Pakistan many times and cannot see much of our exports apart from food products and IT-services. What else is there that could boost our economy?

You obviously don't know much then Pakistan is a leading supplier of sports products to the entire world and also in surgical instruments. Pakistan's a large exporter of clothes and textiles. Pakistan's also on verge of becoming a big defense exporter, POF is exporting products in lucrative markets.

 

[SQ8]

You obviously don't know much then Pakistan is a leading supplier of sports products to the entire world and also in surgical instruments. Pakistan's a large exporter of clothes and textiles. Pakistan's also on verge of becoming a big defense exporter, POF is exporting products in lucrative markets.

Certain problems with those industries include a massive lack of quality control and misstating product capabilities, along with lack of compliance with ethical work standards. These lead to a general lack of trust with Pakistani products overseas.

Agreed. However Pakistan on the whole comes out better on absolute poverty then India suggesting the extreme poor are better off in Pakistan then their compatriots in India. Hunger is a measure of this and Pakistan does better..

That has more to do with a much higher proliferation of philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.

 

[A1Kaid]

Certain problems with those industries include a massive lack of quality control and misstating product capabilities, along with lack of compliance with ethical work standards. These lead to a general lack of trust with Pakistani products overseas.


That has more to do with a much higher proliferation philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.

Certain problems with those industries include a massive lack of quality control and misstating product capabilities, along with lack of compliance with ethical work standards. These lead to a general lack of trust with Pakistani products overseas.

If there was massive lack of quality control in Pakistani sports products, then Pakistani products would not be used in Olympic games, Fifa world cup, and European football matches. Pakistani sports products were chosen because they were in fact better than the Chinese sports products in comparison.

Also a lot of those Pakistani companies in those industries are ISO certified. As for lack of ethical work standards, you can make the same complaint about Chinese companies, in fact westerners do.

These lead to a general lack of trust with Pakistani products overseas.

I don't think thats why there is lack of trust in Pakistani products overseas. Pakistani companies need to better advertise and promote themselves they aren't as recognized as other Asian companies who have build up name recognition. There are a lot of hospitals in US that use Pakistani surgical instruments because of price point and quality. Another factor could be political and current events could hamper the made in Pakistan brand.

There is a reason why German companies buy Pakistani surgical instruments and get them branded Made in Germany...

 

[Kabira]

I think the topic should be when Pakistan's economy would hit $ 1.5 Trillion. It's very close to $ 1 trillion already. The priority should be to get t $ 1.5 trillion in the next 5-7 years. Which isn't very difficult, but is challenging with the power outage. The Chinese trade corridor alone will have $ 250-300 billion additional revenue every year once its all setup. Another $ 50-75 billion worth of investments (majority from inside Pakistan), are expected associated to the real estate, hospitals, schools, businesses which will open up around the trade route and will help expand the economy further.
So really the topic should be when to get to $ 1.5 trillion.

When did Pak nominal GDP get anywhere near $1 trillion?

 

[matmat26]

Law important.
Banking and Finance, Free Market Economics ..

They are essential in the development ..

Pakistan bombs .. just like waiting.
High population countries with significant resources.

But the Pakistani state no authority. No tax system.
State Organizational weak institutionalization. Less inter-regional dialogue.
State Center powerless.

Do you think investors come from? Never.
Easy to criticize the system, fix-organized system.

Yesterday, I looked at the pictures Pakistan country.
My brother very bad state of Pakistan. You need to develop.

World in the race too fast. Everyone is competing with one another.
Manufacturing, marketing, innovation, workforce .... there is competition.
There are in every sense of the competition.

Production must be for money.

World GDP Ranking 2015 | Data and Charts - knoema.com

Success.

 

[SQ8]

If there was massive lack of quality control in Pakistani sports products, then Pakistani products would not be used in Olympic games, Fifa world cup, and European football matches. Pakistani sports products were chosen because they were in fact better than the Chinese sports products in comparison.

Also a lot of those Pakistani companies in those industries are ISO certified. As for lack of ethical work standards, you can make the same complaint about Chinese companies, in fact westerners do.



I don't think thats why there is lack of trust in Pakistani products overseas. Pakistani companies need to better advertise and promote themselves they aren't as recognized as other Asian companies who have build up name recognition. There are a lot of hospitals in US that use Pakistani surgical instruments because of price point and quality. Another factor could be political and current events could hamper the made in Pakistan brand.

There is a reason why German companies buy Pakistani surgical instruments and get them branded Made in Germany...

Getting singular high profile contracts does not exemplify a common occurrence. It was what plagued Chinese firms till recently. Why the iphone made in China still performs better than any higher performance Chinese phones.

ISO certification is only a recent phenomenon. The fact that many buyers have switched over to different suppliers belies the claims of such high profile contracts.

Many US hospital DO not use those equipments anymore due to bad manufacturing processes that were being used. Many are now switching over to Chinese. Trust me, I TRIED SELLING THOSE HERE. There is a reputation that is tarnished for a reason... a simple lack of consistency or honesty from Pakistanis.

 

[Roybot]

However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.

Is that number right? Pakistani Military alone has close to a million personnel, other government(federal and provincial) agencies would have several hundred thousand people on their payroll. Are you telling me even the government employees aren't paying their taxes?

 

[MilSpec]

All the official figures are garbage.There is always certain amount of slip in the official figures and the reality on the ground. Not everybody declares their true income. That why we call the unofficial economy the 'black economy'.

However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.

Less than 1 percent of Pakistanis pay tax – Survey | Aboard The Democracy Train

Given the monumental incompetance by FBR as demonstrated by the numbers of most of the 856,987 taxpayers will be paying nominal amount of tax and getting away with 'murder'. Therefore Pakistan's tax iceberg is differant from most because larger mass of it is submerged. This is the point to keep in mind and not compare it to Canada, USA or UK. What is the exception in UK is ithe norm in Pakistan.

Anecodotal evidence will show any observer. Everytime I go to Pakistan I see huge housing estates sprouting everywhere and cars, consumer goods on sale which does not even by the slightest fit with what figures I read on papers. So if people are not making money where are they getting the money to spend on cars, houses, phones? I just checked and car ownership rates are higher in Pakistan then India, extreme malnutritution is less in Pakistan then India, sanitation access is better in Pakistan but the crazy gross domestic capita is lower then India.

Does this add up? So if figures are to be believed Indian's make more money but then don't bother buying cars, don't bother feeding their children, don't bother building sanitation facelities but hide the money under the bed ....

Yes of course .....

Cars -

Pakistan - 57
India -18

List of countries by vehicles per capita - Wikipedia, the free encyclopedia
WHO | Fast facts
Indian poverty levels higher than Pakistan's, says UN report - Telegraph

Wow, Why Drag India into this thread?

Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.

Again, the thread was purely discussing Pakistan, why bother bringing in you poor neighbors into the discussion.

That has more to do with a much higher proliferation of philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.

(Although OT)
Or...
the your comparison of two sets statistical representation is not comparable at all.... Economy of scale cannot be interpolated across a wider dataset by just cumulative averages, especially when the scale of comparison between Pakistan economy which is easily superseded by a state like Maharashtra.

Just a suggestion of keeping India out of the discussion, avoiding scope creep will be helpful seeing the current trends on the forum...