Pakistan’s per capita income rises to $1,027

[fatman17]

Indians in Thailand

Pakistan’s per capita income rises to $1,027

May 21st, 2008.

Islamabad, May 21 (IANS) Pakistan’s per capita income has risen to $1,027 in fiscal 2007-08 against $878 in the last financial year. The total size of Pakistan’s economy went up to $170.8 billion in the fiscal that ends June 30 against $143.9 billion in the previous fiscal to register a growth of $26.9 billion, says a paper forwarded by the National Accounts Committee (NAC) to the Annual Plan Coordination Committee (APCC).

During the last financial year, the provisional per capita estimate claimed by the then government of prime minister Shaukat Aziz was $925 but was reduced to $878 in accordance with the finalised per capita income related figures.

Inflation is projected at 10.5 percent in the current fiscal.

Quoting from the NAC paper, The News said Wednesday that production of major crops fell one percent due to lower than expected output of wheat and cotton.

Production of minor crops also fell 2.97 percent.

This meant overall farm produce grew a mere 1.49 percent in 2007-08.

Wheat production is estimated at 21.7 million tonnes in the current fiscal against 23.3 million in the previous financial year.

Keeping this in mind the government of Prime Minister Yousaf Raza Gillani has decided to import 2.5 million tonnes of wheat in addition to the 1.7 million tonnes that have already been imported at an estimated cost of Pakistani Rs.60 billion.

Rice production stands at 5.5 million tonnes against the envisaged target of 5.7 million tonnes, while cotton production is estimated at 5.9 million tonnes against 6.5 million tonnes in the previous fiscal.

The production of sugarcane registered an increase to 63 million tonnes in fiscal 2007-08 against 54 million tonnes in the previous year.

 

[mujahideen]

Pakistan’s per capita income rises to $1,027
So I guess its time to celebrate? No my brothers this means nothing. Only the people at the top have been making money in the past 60 years. The poor are still poor. The number is an average. I personally dismiss this number.

 

[AgNoStiC MuSliM]

Agreed - what is important is that a large section of the population have access to clean drinking water, health care, education, etc.

The GoP needs to put the judiciary issue behind them soon and get cracking on more important things

 

[z9-ec]

90+ million mobile users, cars being sold at record numbers and various other aspects do indicate the growth in per capita income which is indeed a great sign of progress.

 

[AgNoStiC MuSliM]

^^^ I think when you combine the growth in per-capita income with other indicators such as rising sales of consumer products, it is obvious that the middle class has expanded greatly - the rich are not buying all of these consumer products after all, but there remains a significant chunk of the population that needs to be provided basic services and opportunities and whose standard of living needs to be raised.

 

[fatman17]

90+ million mobile users, cars being sold at record numbers and various other aspects do indicate the growth in per capita income which is indeed a great sign of progress.

this shows we are a consumer-oriented market. we need sustainability in our development goals. it is really mind-boggling that the agriculture sector has still not been declared a industry in this country. 25% of our GDP comes from this one sector.

 

[khanz]

this is nice getting there slowly but still a very long way to go

 

[mujahideen]

this is nice getting there slowly but still a very long way to go

Yes indeed a very very long way to go. These numbers are meaningless.

 

[roadrunner]

A 17% increase in the GDP per capita over the last year, it looks like. Wow!. Aziz's policies continuing to have a good effect, though I doubt it'd continue. Sounds good for Pakistan, if the trend continues.

 

[mujahideen]

A 17% increase in the GDP per capita over the last year, it looks like. That's a lot. Aziz's policies continuing to have a good effect. Sounds good for Pakistan, if the trend continues.

Only the upper class people have benefited from thee policies. As much as I like Shakut Aiziz we must admit a lot of the wealth went to the already rich, but nonetheless alot went to the poor as compared to previous governments. We need a policy which helps the middle and lower classes of our society.