http://www.riazhaq.com/2018/01/wef-reports-more-pakistanis-sharing.html
More and more Pakistanis are sharing in their nation's development, according to World Economic Forum (WEF). Pakistan ranks 47 among 74 emerging economies ranked for inclusive development by WEF released recently at Davos, Switzerland. Inclusive development in the South Asian country has increased 7.56% over the last 5 years. World Economic Forum assesses inclusive development based on "living standards, environmental sustainability and protection of future generations from further indebtedness."
WEF Inclusive Development Report 2018:
The WEF inclusive development index ranks Pakistan at 47, below Bangladesh at 34 but above India at 62. The 7.56% rate of increase in inclusive development in Pakistan is higher than 4.55% in Bangladesh and 2.29% in India. China ranks 26 and its inclusion is rising at a rate 2.94%.
WEF IDI Rankings. Source: WEF
Pakistan has improved its ranking from 52 last year to 47 this year, while India's rank worsened to 62 this year from 60 last year. China's ranking also worsened from 15 last year to 26 this year.
Another WEF report compiled by Oxfam said the richest 1% of Indians took 73% of the wealth generated last year.
Income Share Change in Asia's Poorest Quintile:
The share of national income of Pakistan's poorest 20% of households has increased from 8.1% to 9.6% since 1990 , according to the United Nations Economic and Social Commission for Asia and Pacific (NESCAP) Statistical Yearbook for 2015. It's the highest share of income for the bottom income quintile in the region.
The countries where people in the poorest income quintile have increased their share of total income include Kyrgyzstan (from 2.5 per cent to 7.7), the Russian Federation (4.4 per cent to 6.5), Kazakhstan (7.5 per cent to 9.5) and Pakistan (8.1 per cent to 9.6). India's bottom income quintile has seen its share of income drop from 9% to 7.8%.
Bottom Quintile Income Share Change. Source: UNESCAP Statistical Yearbook
Although more people in China have lifted themselves out of poverty than any other country in the world, the poorest quintile in that country now accounts for a lower percentage of total income (4.7 per cent) than in the early 1990s (8.0 per cent). The same unfortunate trend is observed for a number of other countries, including in Indonesia (from 9.4 per cent to 7.6) and in the Lao People’s Democratic Republic (from 9.3 per cent to 7.6).
CPEC Transforming Least Developed Regions:
Development of China Pakistan Economic Corridor (CPEC) is transforming Pakistan. Among the parts of the contry being transformed the most by CPEC are some of the least developed regions in Balochistan and Sindh, specifically Gwadar and Thar Desert. Here is more on these regions:
Gwadar Port City:
Gwadar is booming. It's being called the next Shenzhen by some and the next Hong Kong by others as an emerging new port city in the region to rival Dubai. Land prices in Gwadar are skyrocketing, according to media reports. Gwadar Airport air traffic growth of 73% was the fastest of all airports in Pakistan where overall air traffic grew by 23% last year, according to Anna Aero publication. A new international airport is now being built in Gwadar to handle soaring passenger and cargo traffic.
In addition to building a major seaport that will eventually handle 300-400 million tons of cargo in a year, China has built a school, sent doctors and pledged about $500 million in grants for an airport, hospital, college and badly-needed water supply infrastructure for Gwadar, according to Reuters.
The Chinese grants include $230 million for a new international airport in Gwadar, one of the largest such disbursements China has made abroad, according to researchers and Pakistani officials.
New development work in Gwadar is expected to create as many as 20,000 jobs for the local population.
Thar Desert:
Thar, one of the least developed regions of Pakistan, is seeing unprecedented development activity in energy and infrastructure projects. New roads, airports and buildings are being built along with coal mines and power plants as part of China-Pakistan Economic Corridor (CPEC). There are construction workers and machinery visible everywhere in the desert. Among the key beneficiaries of this boom are Thari Hindu women who are being employed by Sindh Engro Coal Mining Company (SECMC) as part of the plan to employ locals. Highlighted in recent news reports are two Hindu women in particular: Kiran Sadhwani, an engineer and Gulaban, a truck driver.
Kiran Sadhwani, a Thari Hindu Woman Engineer. Source: Express Tribune
Thar Population:
The region has a population of 1.6 million. Most of the residents are cattle herders. Majority of them are Hindus. The area is home to 7 million cows, goats, sheep and camel. It provides more than half of the milk, meat and leather requirement of the province. Many residents live in poverty. They are vulnerable to recurring droughts. About a quarter of them live where the coal mines are being developed, according to a report in The Wire.
Hindu Woman Truck Driver in Thar, Pakistan. Source: Reuters
Some of them are now being employed in development projects. A recent report talked of an underground coal gasification pilot project near the town of Islamkot where "workers sourced from local communities rested their heads after long-hour shifts".
Summary:
More and more Pakistanis are sharing the fruits of development in Pakistan as shown by the World Economic Forum report on inclusive growth. WEF ranks Pakistan at 47, below Bangladesh at 34 but above India at 62. The 7.56% rate of increase in inclusive development in Pakistan is higher than 4.55% in Bangladesh and 2.29% in India. The share of national income of Pakistan's poorest 20% of households has increased from 8.1% to 9.6% since 1990 , according to the United Nations Economic and Social Commission for Asia and Pacific (NESCAP) Statistical Yearbook for 2015. It's the highest share of income for the bottom income quintile in the region. Development of China Pakistan Economic Corridor (CPEC) is transforming Pakistan. Among the parts of the contry being transformed the most by CPEC are some of the least developed regions in Balochistan and Sindh, specifically Gwadar and Thar Desert.
Related Links:
Haq's Musings
Credit Suisse Wealth Report 2017
Pakistan Translates GDP Growth to Citizens' Well-being
Rising Motorcycle Sales in Pakistan
Pakistan Rising or Falling? Myth vs Reality
Chicken vs Daal in Pakistan
China Pakistan Economic Corridor
ADB Raises Pakistan GDP Growth Forecast
Pakistan is the 3rd Fastest Growing Trillion Dollar Economy
Pakistan Education Budget Surpasses Defense Spending
Information Tech Jobs Moving From India to Pakistan
Pakistan is 5th Largest Motorcycle Market
"Failed State" Pakistan Saw 22% Growth in Per Capita Income in Last 5 Years
CPEC Transforming Pakistan
Pakistan's $20 Billion Tourism Industry Boom
Home Appliance Ownership in Pakistani Households
Riaz Haq's YouTube Channel
PakAlumni Social Network
http://www.riazhaq.com/2018/01/wef-reports-more-pakistanis-sharing.html
More and more Pakistanis are sharing in their nation's development, according to World Economic Forum (WEF). Pakistan ranks 47 among 74 emerging economies ranked for inclusive development by WEF released recently at Davos, Switzerland. Inclusive development in the South Asian country has increased 7.56% over the last 5 years. World Economic Forum assesses inclusive development based on "living standards, environmental sustainability and protection of future generations from further indebtedness."
WEF Inclusive Development Report 2018:
The WEF inclusive development index ranks Pakistan at 47, below Bangladesh at 34 but above India at 62. The 7.56% rate of increase in inclusive development in Pakistan is higher than 4.55% in Bangladesh and 2.29% in India. China ranks 26 and its inclusion is rising at a rate 2.94%.
WEF IDI Rankings. Source: WEF
Pakistan has improved its ranking from 52 last year to 47 this year, while India's rank worsened to 62 this year from 60 last year. China's ranking also worsened from 15 last year to 26 this year.
Another WEF report compiled by Oxfam said the richest 1% of Indians took 73% of the wealth generated last year.
Income Share Change in Asia's Poorest Quintile:
The share of national income of Pakistan's poorest 20% of households has increased from 8.1% to 9.6% since 1990 , according to the United Nations Economic and Social Commission for Asia and Pacific (NESCAP) Statistical Yearbook for 2015. It's the highest share of income for the bottom income quintile in the region.
The countries where people in the poorest income quintile have increased their share of total income include Kyrgyzstan (from 2.5 per cent to 7.7), the Russian Federation (4.4 per cent to 6.5), Kazakhstan (7.5 per cent to 9.5) and Pakistan (8.1 per cent to 9.6). India's bottom income quintile has seen its share of income drop from 9% to 7.8%.
Bottom Quintile Income Share Change. Source: UNESCAP Statistical Yearbook
Although more people in China have lifted themselves out of poverty than any other country in the world, the poorest quintile in that country now accounts for a lower percentage of total income (4.7 per cent) than in the early 1990s (8.0 per cent). The same unfortunate trend is observed for a number of other countries, including in Indonesia (from 9.4 per cent to 7.6) and in the Lao People’s Democratic Republic (from 9.3 per cent to 7.6).
CPEC Transforming Least Developed Regions:
Development of China Pakistan Economic Corridor (CPEC) is transforming Pakistan. Among the parts of the contry being transformed the most by CPEC are some of the least developed regions in Balochistan and Sindh, specifically Gwadar and Thar Desert. Here is more on these regions:
Gwadar Port City:
Gwadar is booming. It's being called the next Shenzhen by some and the next Hong Kong by others as an emerging new port city in the region to rival Dubai. Land prices in Gwadar are skyrocketing, according to media reports. Gwadar Airport air traffic growth of 73% was the fastest of all airports in Pakistan where overall air traffic grew by 23% last year, according to Anna Aero publication. A new international airport is now being built in Gwadar to handle soaring passenger and cargo traffic.
In addition to building a major seaport that will eventually handle 300-400 million tons of cargo in a year, China has built a school, sent doctors and pledged about $500 million in grants for an airport, hospital, college and badly-needed water supply infrastructure for Gwadar, according to Reuters.
The Chinese grants include $230 million for a new international airport in Gwadar, one of the largest such disbursements China has made abroad, according to researchers and Pakistani officials.
New development work in Gwadar is expected to create as many as 20,000 jobs for the local population.
Thar Desert:
Thar, one of the least developed regions of Pakistan, is seeing unprecedented development activity in energy and infrastructure projects. New roads, airports and buildings are being built along with coal mines and power plants as part of China-Pakistan Economic Corridor (CPEC). There are construction workers and machinery visible everywhere in the desert. Among the key beneficiaries of this boom are Thari Hindu women who are being employed by Sindh Engro Coal Mining Company (SECMC) as part of the plan to employ locals. Highlighted in recent news reports are two Hindu women in particular: Kiran Sadhwani, an engineer and Gulaban, a truck driver.
Kiran Sadhwani, a Thari Hindu Woman Engineer. Source: Express Tribune
Thar Population:
The region has a population of 1.6 million. Most of the residents are cattle herders. Majority of them are Hindus. The area is home to 7 million cows, goats, sheep and camel. It provides more than half of the milk, meat and leather requirement of the province. Many residents live in poverty. They are vulnerable to recurring droughts. About a quarter of them live where the coal mines are being developed, according to a report in The Wire.
Hindu Woman Truck Driver in Thar, Pakistan. Source: Reuters
Some of them are now being employed in development projects. A recent report talked of an underground coal gasification pilot project near the town of Islamkot where "workers sourced from local communities rested their heads after long-hour shifts".
Summary:
More and more Pakistanis are sharing the fruits of development in Pakistan as shown by the World Economic Forum report on inclusive growth. WEF ranks Pakistan at 47, below Bangladesh at 34 but above India at 62. The 7.56% rate of increase in inclusive development in Pakistan is higher than 4.55% in Bangladesh and 2.29% in India. The share of national income of Pakistan's poorest 20% of households has increased from 8.1% to 9.6% since 1990 , according to the United Nations Economic and Social Commission for Asia and Pacific (NESCAP) Statistical Yearbook for 2015. It's the highest share of income for the bottom income quintile in the region. Development of China Pakistan Economic Corridor (CPEC) is transforming Pakistan. Among the parts of the contry being transformed the most by CPEC are some of the least developed regions in Balochistan and Sindh, specifically Gwadar and Thar Desert.
Related Links:
Haq's Musings
Credit Suisse Wealth Report 2017
Pakistan Translates GDP Growth to Citizens' Well-being
Rising Motorcycle Sales in Pakistan
Pakistan Rising or Falling? Myth vs Reality
Chicken vs Daal in Pakistan
China Pakistan Economic Corridor
ADB Raises Pakistan GDP Growth Forecast
Pakistan is the 3rd Fastest Growing Trillion Dollar Economy
Pakistan Education Budget Surpasses Defense Spending
Information Tech Jobs Moving From India to Pakistan
Pakistan is 5th Largest Motorcycle Market
"Failed State" Pakistan Saw 22% Growth in Per Capita Income in Last 5 Years
CPEC Transforming Pakistan
Pakistan's $20 Billion Tourism Industry Boom
Home Appliance Ownership in Pakistani Households
Riaz Haq's YouTube Channel
PakAlumni Social Network
http://www.riazhaq.com/2018/01/wef-reports-more-pakistanis-sharing.html
