Size of Pak economy touches US $ 135 billion mark

LAHORE, Apr 6 (APP)- State Minister for Finance, Omar Ayub Khan Friday said that the total size of Pakistan’s gross domestic product (GDP) has risen to the level of US $ 135 billion from US $ 62 billion over a period of seven years

“The consistent growth of national economy is just due to the efforts made by the present government to put the country on the path of high growth,” he said while inaugurating a two-day seminar on ‘ Value Addition through Internal Audit’ at a local hotel.

Auditor General of Pakistan, Muhammad Younis Khan,

Conference Chairman Iftikhar A. Chaudhary , US Internal Audit expert, John White and Director General Works Audit, M. Jamil Bhatti were present on the occasion.

Omar Ayub Khan said that country’s economy had been growing at a rate of 7 percent over the last several years and hoped that it would post the same growth rate this year.

He said that there was great potential for growth in the agriculture sector especially in the milk production.

He said that Swiss milk processing firm, Nestle had set up Asia’s biggest plant in Pakistan to benefit from the business opportunities in this part of the world.

“More and more foreign companies are planning to invest in Pakistan due to the enabling environment and a big consumer base,” Omar Ayub Khan said.

http://www.app.com.pk/en/index.php?option=...03&Itemid=2

All good. Thats good news. Atleast we have some positive news. More investmetns, more jobs, economy grows, inflation reduces.
Pakistan getting stronger economically.

we are a long way away from where we want to be, but at least now we are travelling down the right road.

For GDP to increase from $62 billion to $135 billion in 7 years, Growth rate has to be 11.75% over all 7 years...

I wonder how people make statements whichout doing most basic calculations...

SO which one is wrong ? $62 billion or $135 billion ??

http://www.econstats.com/weo/C122V019.htm

$62 billion is correct figure for year 2000, but $135 billion is wrong for 2006, but it is $97.6 billion

2000 61.128 2.4%
2001 57.363 -6.2%
2002 64.036 11.6%
2003 73.593 14.9%
2004 82.612 12.3%
2005 90.282 9.3%
2006 97.600 8.1%

For a change, I agree with you. I know from personal experience that the economy part of Pakistan is not doing as well as the Musharraf government projects. They have been lying a great deal about all this, and I assure you that the growth has NOT been as strong as they project!

very good growth ....pakistan should make own industry..donot depend much on investment

Pakistan, like other developing states has a large informal sector which do not pay taxes and obviously not registered. I am assuming more businesses (large and small) have been registered by the government thats why there is a massive growth. Similiar to China when gdp was revised by hundreds of billions overnight because of previous underestimating of the service sector.

no...but informal sector cannot be so much do u say that 40 billion is informal for 135 billion dolar?

Chinese case is different... Chinese delibarately wanted to keep low figure by calculation so that their exports wud be cheaper & so there will be surge in exports....

Chinese revision is very much scientific, they did nt convert from informal GDP to formal GDP ... rather they change the way GDP is caluculated & it is an accepted practice in economics. Moreover revised GDP is small % change in their total GDP

starshine ....GDP was no revise to help export....it was because in many district the sectors genuinely missed...and also Export not depend on GDP number only....yuan play major role in profit from export...

I am saying that it is part of the explanation, not whole thing. Why cannot informal sector be 40 billion over 7 years. You know how many business pay tax it is in the minority and who do distort their revenue figures.

nope, the way GDP is calculated can help exports, can help keeping inflation low... & many more things.

For example, if u keep ur exchange rate low, ur GDP will also be low, exports will be cheaper... this is one calculation... There are such many calculations, & chinese are experts in this... If u seriuosly look for more data, please look for chinese websites on economics....

A chinese deligation to india recetly even told how a GDP calculation can keep inflation low...
Well, I am not a core economist, so please excuse me I cant give u explanation, but i can only tell that...

Now, economy of Istanbul ($133 billion) city with its 12 ml. people is larger than whole Pakistan with population of 160 ml. Also Istanbul exported $40 billion in 2005, thats two times more than whole Pakistan in 2006.
I always thought that Pakistan had much better economy but it does not seem to be so.

This thread is about Pakistan's GDP, stick to that or i start deleting posts!

cities usually have higher GDP; Hong Kong or Signapore for example, then less populated areas

but the grow these cities have is relatively small compared to cities still in development and with rural migrant moving in and providing labor

small hearted rats have to infect EVERY thread! THere are different ways of measuring GDP. Even if one looks at the World Bank statistics, the growth is mighty impressive.

The simple answer is that we changed our GDP base year couple of years ago. From 1990 to 2000 i think. This increased GDP from somewhere near $75 billion to $95 billion. Other than this sudden $20-25 billion jump, everything else is accounted for If you do the calculation properly. So yeah the minister was not wrong in saying that the government increase GDP from $62 to $137 billion in last 7 years but he delibretly left out the re-adjustment of the base year part (Politicians do this everywhere). Still a very impressive growth in my opinion.

True places like Hong Kong Dubai and Singapore are city states with minuscule populations who actually probably donot own the money these states have.. these cities are in essence global banks which hold the money of regions they are situated in being relatively safe and profitable destinations for investment. Also you have to consider the fact that though Istanbul is a 132 billion dollar economy, Turkey as a country is way more expensive and is situated in a far more expensive neighborhood (Europe) so it will need to have more money.. besides I may be totally off on this one but Istanbul (n may be Ankara) is the economic heartland of Turkey and is hence having a greater share of Turkey's wealth.

I doubt that bhindi shine will accept even this explanation. There was article in which they explanid the growth. Let me find.

here figure from CIA the world fact book about FY2006....GDP (purchasing power parity):
$427.3 billion (2006 est.)
GDP (official exchange rate):
$124 billion (2006 est.)
GDP - real growth rate:
6.5% (2006 est.)
GDP - per capita (PPP):
$2,600 (2006 est.)
you only wonder because you have fix idea about pakistan which every indian learn from childhood

well there are two ways of measring GDP, the income and the expenditure approach. but either way, the result is always the same.



yes, i think thats the most likely possibility. if u change ur base year to a more recent year, ur nominal GDP will jump.

Is the Nation an anti-government paper? Just curious.

http://www.nation.com.pk/daily/apr-2007/9/editorials3.php

bhangee before i take my shoe off and shine your head with it. Get lost and get out of this thread with your tails between your leg.

I wouldn't call it anti government, though i think the daily times is.... papers will publish to swell, controversy sells. REading the article you posted made me laugh, the writer is talking about Pakistan as if ti was a G8 nation where what terms where used really mattered, people are quick to foget the impoverished state we where in only 8 years ago. Froma country nearly bankrupt to a middle income economy, it's a big step.

thats a childish reply to a logical argument. Hey psycho, r u a man?
now cmmon ban me ... i dun care getting banned by such an illogical pea brain guy ....

r u in atlanta ? if yeah then try face me once ...

a real logical argument.

lol, just waiting to get banned.

seriously, I never met a pakistani before coming to US, and here i have quite a few pakistani friends and they are really friendly, we even play cricket together every weekend. Teams are composed of people from both sides of the border.

One of my mates where i study is a son of a lt general in pakistan army who fought the wars against India.

But even that guy has no real hatred towards India.

Cmmon guys, we were not even born when the ugly incidents happened neither are we responsible for any of it.

The people here, kind of words they use for any given Indian, whether or not he has even heard the words like karachi or lahore, just use silly slangs and prove how chilidish they are.

People like dizasta and psycho I bet cant do anything substantial for the common people of pakistan. They are good at blabbering on a forum using their key board. Its as good as a healthy guy winning in retards olympics competetion.

You dont have to hate other country men to prove urself to be patriotic. What are these guys doing? Sitting infront of their computers, f@rting on their seats and calling others bhindis and bhangees?

How many of them have the courage to say that to an Indian on his face. I think i know which city this guy psycho lives in. Thats why I said, if at all you are a man psycho, if u got any guts u fool, face me , I am in atlanta, i know you too are in the same city.

and yeah, if these guys were so brave why do they never show up their real identity.

just look at indianfefenceforum . everybody knows the administrators. Who they are and what they do and are easily approachable.

Now are the mods sleeping. What the hell am i doing in this forum. I should better go to my own forums.

Exposed my real rat monkey donkey identity. lol ... start it all .... bhangee changee and what not.... its fun, and we always laugh when these guys make a fool of themselves using such words.


ohh i posted on ur forum. I must be top rated bhange .... ha h aha

just send me a message psycho, or pm me, u can easily contact me. I hope u dont pee in ur pants

ban this bhangee troll so we can get back to discussion in this forum.

Are you talking about GDP(PPP) or GDP(official exchange rate)? The 2 are different, for example Pakistan's GDP(PPP) is $427.3 billion but the other one is $124 billion.

https://www.cia.gov/cia/publications/factbook/geos/pk.html

Also, some countries rely a lot on one of it's major cities for the overall GDP of the country, I am sure Istanbul accounts for atleast 30-40% of Turkey's overall economy..

show your bravery somewhere else. We are not impressed and in case you haven't figured it out, this is a discussion forum. A stupid troll like you needs to be banned so we can get back to discussing.

No need to bark on same thing again and again u pathetic little bhangee with tail. Enjoy while u last

listen u rat, before commenting on us, just have a look at ur own filthy kind. atleast this forum has some discussion, u talk abt indiandefenceforum, if i copy and paste what kind of discussion indians have at indiandefenceforum, ppl here will fall off their seats laughing.

I just visited indiandefenseforum on icecream request. No wonder he is here because in IDF there is hardly any discussion because of low numbers of members. Couple of members there were insulting pak right, left and center and icecream come here to teach us manners.

Not expected from an Asst Admin

Thailand being a country of 70 million people has an export of $110 billion.

Pakistan has a long way to go, and it is moving in a right direction.

We should be concentrating on developing human resources, moving up the manufacturing chain by producing high end goods.

Slovenia is a tiny country of 2 million and has exports of 22 billion just like Pakistan. Pakistan must diversify its industry and exports especially.
Pakistan must produce more electricity, steel, coal, coper, and than invest in high industries like car, electronic, special materials, manufacturing.
There is no other way to succeed in an open world arena. Just look what Turkey did in last 5 years, they reinvented them selfs and become real industrial tiger.
Turkey exports 22 billion of automobile spare parts every year. If you can make your own main battle tank you
can make tractor or backhoe as well, or truck or bus. Only stupid people don't realize this.

thats why its important to keep Pakistans 'democratic' politicians and leaders far away from power for as long as possible. This is not only good for Pakistan, but eventually for muslims world over. I dont think most Pakistanis even realize depth of damage they inflicted upon its economic, political, cultural and social fabric during '90s. It became a dumbed down society when it should have been focusing on high tech and manufacturing.

why would anyone buy pakistani bus when they can drive mightly Slovenian buses? :)

I used to thought it was about Nominal GDP growth rate stuffs,like relativly high infation would make Nomianl growth rate higher
but numbers you provided here look weird

" why would anyone buy Pakistani bus when they can drive mighty Slovenian buses? "



Why would anyone buy a car from India or China. Just wait couple of more years and you will see. Why would anyone buy hard disk from Taiwan or Thailand when you can have them from Japan.
The answer is simple. If the price is right people will by, and they would not care less where is it coming from.

Real problem is that leaders have to realize that you must produce higher value products. Pakistan has to move on from rice and T-shirts tobuses and tractors. And then not stop there but to continue with fiber optics, nano machines, semiconductors,
solar panels, telecommunication gear and so on.

I don't know much about Pakistani politics, but you are spot on about investing on manufacturing and high tech industries. It should be well rounded effort, starting from setting up world class engineering institutes(producing quality graduates) to setting up new manufacturing plants be it automobile or computer.

I am pleased to see some muslim countries like Malaysia and Turkey finally coming up as industrialized nations, if Pakistan or Bangladesh can join the league it will be great not just for being muslim nations but because we consist of (160+150=310million) people, it will have impact on the lives of many!

For some reason, democracy seems to be failing in most muslim nations. In Bangladesh we currently have an interim government backed by army, and for the first time in a decade we are expecting GDP growth rate of over 8% this year, FDI has tripled and foreign exchange reserve has quadrapled in just 4 months! The same seems to be the case in Pakistan under Musharraf..

dude, all this takes time. I was just joking with you.

In pakistan most people if given the chance would vote for corrupt and murderer politician because they are easily fooled by propaganda but controlled govt. like that of Mushraff tend to be much more organize and pan out real economic growth even if it is not believed to be doing so by uneducated people. Bangladeshi case might be similar.

Wow. If one thing this Pakistani government is good at, it is to bring out these magical numbers from their collective a$$es.

I'm sure Pakistani economy will be $200 Billion the next year.

rather than taking a go at the government wouldnt it be approperiate for u to get off us lazy A$$ and do some research and understand the figures and the increase.

this is execelnt news!

I dont think it is about being muslim. To develop into advanced economies from state of large poverty, illiteracy and ignorance, requires some visionary leadership, which democratic politics hinders. In a third world democracy, a dumbed down degraded society is likely to produce similar leaders. Secondly I dont think western countries, america, japan became rich by practising ideals of democracy. West benefited enormously by slave labor, colonization, exploitation, wars, and slave trade. They didnt practise tyranny and oppression at home though, preferring a representative govt which gave people basic rights.

Japan was not developed by American occupation. Japan prior to world war II was for long highly industrialized country. Lets take example of some non-muslim countries who became rich in 20th century, such as Greece, Spain, Taiwan, South Korea, Singapore, Hong Kong, Chile. All had one thing in common, they had either military or authoritarian visionary and enlightened leadership for many years. Add Malaysia to that. Call them junta, dictators, but without them, plus the support of America I dont think they would have made it so quick. Btw, Many Americans will tell you , America is not exactly democracy, its a republic. Which means majority mob mentalities, or whats popular at any given time dont rule. Pure and raw democracy would be a recipe for disaster in many third world countries.

Very well said. Unfortunately, we have very few percentage of our people who can analytically see through the barriers the so called democracy stretches across their brain.