Pakistan is now a $300-billion economy "Growth rate hits nine-year high of 5.28pc"

[Kabira]

Then you wouldn't even need loans!

Pakistan would still take loans but situation will be better. More money for development, defence, etc

 

[Thəorətic Muslim]

Pakistan would still take loans but situation will be better. More money for development, defence, etc

Or Pakistanis can be like that India Lawyer, who charged only 1 rupee, and not get involved in corruption thus adding a couple more $Billion.

 

[Awan68]

living conditions are just as pathetic as they were 10 years ago. there are more services available now, but the basic problems like water, electricity, sewerage, environment are in the same pathetic condition.
besides that the poor people are still poor, with no access to education and healthcare. without these 2 things they can't look towards social mobility.

I wasnt looking to paint a swiss picture but things have gotten a lot better, u must accept tht and im not acrediting that to the govt, the diminshed terrorism led to an economic boom over the past 3 yrs hence the country itself is lifting on its own yet things can be a miilion fold better if govts start doing their jobs for once...

 

[Alternative]

Black economy doesn't matter unless documented and taxed. Even now Pakistan tax to GDP ratio is just 11-12% compared to India's 16-17%. Just imagine if Pakistan tax-GDP ratio was similar to India then we would be talking about extra $12-15 billion tax collection.

It is not black economy, but undocumented economy, parallel economy.
Problem is not in the Economy of Pakistan, but the inability of State to handle that economy

Then you wouldn't even need loans!

If you calculate the per capita external loan of India, which is about 486 billion dollars to Pakistan's 76 billion dollars, you will see that these are almost same.
It is the economic policy of Government rather better tax collection.
World's largest economy, USA is the most debt ridden country also.

 

[Awan68]

Or Pakistanis can be like that India Lawyer, who charged only 1 rupee, and not get involved in corruption thus adding a couple more $Billion.

There is no corruption in india, really???, i mean really??? never forget ur meds son...

 

[Thəorətic Muslim]

There is no corruption in india, really???, i mean really??? never forget ur meds son...

I referenced the Indian lawyer for his nationalistic choice to accept goodwill from the nation over financial gain.

 

[Awan68]

Its a economy thread and u want to focus on military thing again and again

Its his prerogitive, and economical analysis always involves strategic and military factors, every economy is heavily dependant upon it, maybe u should get ur head outta ur a ss for once and indulge in constructive debate and stop wasting the time of adults with ur half a ssed childish illimformed amateur jibes, its pathetic, really!!!

I referenced the Indian lawyer for his nationalistic choice to accept goodwill from the nation over financial gain.

That is irrelevant in serious economic discussion, economies thrive on money shifting hands via services rendered...

 

[Rajaraja Chola]

Its his prerogitive, and economical analysis always involves strategic and military factors, every economy is heavily dependant upon it, maybe u should get ur head outta ur a ss for once and indulge in constructive debate and stop wasting the time of adults with ur half a ssed childish illimformed amateur jibes, its pathetic, really!!!


That is irrelevant in serious economic discussion, economies thrive on money shifting hands via services rendered...

When he is involving my country unnecessarily then it does provokes me to respond. Keep ur cheergirls duty somewhere else

 

[Hakikat ve Hikmet]

Its a economy thread and u want to focus on military thing again and again

"It's the economy, stupid" - President Clinton's election theme

One must think about the 'parallel economy', that is, undocumented economy of Pakistan: Legit businesses nowhere accounted for.
Estimates ranges from 30% to more than 100% of documented sector..............
You can read the views of Chief of Institute of Chartered Accountants of Pakistan on Business Recorder below
http://fp.brecorder.com/2016/05/2016051345400/
If you search you will find foreign sources on undocumented sector of Pakistan Economy also.

And we can corroborate this, rather easily, if we compare some key information with other Country, say, Bangladesh. IMF say Bangladesh's GDP is $270 Billion with a growth rate of 7.2%....
For example, Petroleum consumption, you will find that Pakistan Consumes for than 3 times the Bangladesh.
http://www.theglobaleconomy.com/rankings/oil_consumption/

Number of registered vehicles total
http://apps.who.int/gho/data/node.main.A995
In Bangladesh some 21062 cars were registered in year 2015,http://www.dhakatribune.com/bangladesh/2016/09/22/quader-will-fix-number-cars-family-can/
and in Pak Suzuki alone produced more than 134,000 motor cars, not counting other manufacturers and imports.
Check the natural gas consumption figures of Pakistan which is about double of Bangladesh.
Check the Electricity production and consumption figures too.

Question is how to keep it at a bearable rate? After much fun fare Turkey has managed to keep it at 40%. It seems that it's quite impossible to push it low any further!!!

 

[Awan68]

When he is involving my country unnecessarily then it does provokes me to respond. Keep ur cheergirls duty somewhere else

Cheer girl, is that the best u can come up with but then again what can u expect from a ................

 

[Hulk]

Growth rate hits nine-year high of 5.28pc
MUBARAK ZEB KHANUPDATED ABOUT 6 HOURS AGO
16 COMMENTS
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ISLAMABAD: The government on Wednesday announced it is going to miss the economic growth target for 2016-17 because of an underperformance by the industrial and services sectors.

This will be the fourth year in a row that the PML-N government has missed the annual economic growth rate target.

The economy grew at the rate of 5.28 per cent against the projected rate of 5.7pc in 2016-17. It is the fastest pace of growth since 2006-07 when GDP expanded by 6.8pc.

The target was 5.5pc last year, but the growth rate remained 4.51pc.

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Misses target for fourth year in a row
Growth targets were also revised downwards to 4.06pc in 2014-15 and 4.1pc in 2013-14.

The mater was discussed in a meeting of the National Accounts Committee (NAC) on Wednesday. Only 10 out of 20 key growth indicators were on target, NAC documents showed. The growth rate, however, is provisional as final numbers for the full year will firm up later.

The agriculture sector, which contracted in 2015-16, witnessed growth of 3.46pc, just below its target of 3.5pc, in the outgoing fiscal year.

Major crops recorded growth of 4.12pc against the target of 2.5pc. Growth in the production of five important crops, namely wheat, maize, rice, sugarcane and cotton, is estimated to be 0.5pc, 16.3pc, 0.7pc, 12.4pc and 7.6pc, respectively.

There is a fear that the low yield of minor crops can lead to higher food inflation. Other crops are estimated to post growth of 0.21pc against the target of 3.2pc.

Livestock, the second largest sub-sector of agriculture, posted growth of 3.43pc against the target of 4pc.

The fishery sector expanded 1.23pc against 3pc last year. Forestry grew 14.49pc against the target of 3pc. Growth in fishery and forestry reflected the last year’s trend.

The industrial sector posted growth of 5.02pc against the target of 7.7pc in 2016-17. Last year, it grew 5.80pc. The mining and quarrying sector recorded growth of 1.34pc against the target of 7.4pc. Manufacturing recorded growth of 5.27pc against the target of 6.1pc. Growth in the manufacturing sector was 3.66pc last year.

Large-scale manufacturing posted growth of 4.93pc against the target of 5.4pc. Small-scale manufacturing expanded 8.18pc against the target of 8.2pc while slaughtering grew 3.61pc against the target of 3.7pc. Major contributors to this growth were sugar (29.33pc), cement (7.19pc), tractors (72.9pc), trucks (39.31pc) and buses (19.71pc).

Growth in the construction sector was 9.05pc compared to 14.60pc last year. It missed its growth target (13.2pc) for the outgoing fiscal year. Supply of electricity and gas also depicted growth of 3.40pc against the target of 12.5pc. The electricity and gas sub-sector showed low growth due to reduced subsidies for K-Electric and Wapda and its companies.

The services sector grew 5.98pc in 2016-17 against the target of 5.7pc. Last year, it grew 5.55pc. Major contributors were the general government services, which rose 6.91pc against the target of 7pc. It was mainly driven by the increase in salaries and inflation.

Finance and insurance grew 10.77pc against the target of 7.2pc mainly because of high growth of deposits (15pc) and loans (11pc). The housing services depicted growth of 3.99pc against the target of 3.99pc. Transport, storage and communication rose 3.94pc against the target of 5.1pc.

Wholesale and retail trade witnessed growth of 6.82pc against the target of 5.5pc in the outgoing fiscal year. It depends on the output of agriculture, manufacturing and imports. Agriculture increased 3.46pc, manufacturing 5.27pc and imports 19.32pc.

Published in Dawn, May 18th, 2017

Congratulations guys!! World top ten means a lot.

 

[Alternative]

"It's the economy, stupid" - President Clinton's election theme


Question is how to keep it at a bearable rate? After much fun fare Turkey has managed to keep it at 40%. It seems that it's quite impossible to push it low any further!!!

Actually, it is getting too big and too prominent now.
Ishaq Dar, Finance Minister is asking his ministry to look into GDP figures.
https://www.bloomberg.com/news/vide...dar-says-20-25-of-gdp-is-underestimated-video

They would now have to look for other excuses to get special favors like GSP Plus.

 

[Hakikat ve Hikmet]

Actually, it is getting too big and too prominent now.
Ishaq Dar, Finance Minister is asking his ministry to look into GDP figures.
https://www.bloomberg.com/news/vide...dar-says-20-25-of-gdp-is-underestimated-video

They would now have to look for other excuses to get special favors like GSP Plus.

Got the point, Kardeshim!!!! No offense to anyone, I think the Pak folks have loved the idea of the "hidden Imam"!!!! Now, they have put everything under the sun inside the "hidden" closet!!!!

 

[Cookie Monster]

Only less than 0.1% pay taxes. 79B$ debt is ratio-wise much below the world average.

I wouldn't mind a bit of debt if it was actually spent on development and infrastructure projects to grow the economy. Instead our politicians squander the money...the one that bothers me most is the loan forgiveness. Basically the close relatives of these assh*les take out massive loans and use their influence to have it "forgiven". One of their many ways where money is taken out of the system to fill up some off shore bank account of some crook.

 

[Zibago]

Only less than 0.1% pay taxes. 79B$ debt is ratio-wise much below the world average.


According to IMF, Pakistan's GDP stands at 317 billion.

The reason is Pakistani govt prefers the indirect taxation method instead of direct taxation