Pakistani GDP is now $800 Billion (Formal +Informal) as per ILO, SMEDA joint study

[RealNapster]

Yes it's standard practice. rebasing price points are selected from the 4-5 years prior. Even when last time India did in 2015, we selected 2011-12 as price point. So that's like 12 years old for us.

GDP rebasing is fruitful if you think that between 2015-2019/20 , substantially new business avenues have popped up in Pakistan.

According to your post, when India rebased it's economy, it kept a difference of 4 years. That difference was 6+ years incase of Pakistan.

 

[nibba]

What is the benefit for us with a FTA? Which industries would benefit?

south indian cinema from influx of pakistani women

i would argue with ceasless intensity for the free movement of big booty babes across boders

if our women start going to pakistan we will have some contingency built in to nuullify the deal

 

[313Ghazi]

There is definitely so much more money floating around than is accounted for. Thousands of people have come to the UK from our ends on fake care visas after paying £20-25,000 each. Where did that money come from? You'd be shocked at how much cash is moving around using the hundi system.

 

[Falcon26]

I have saying it for years. This was from a month ago.

View attachment 42300

Same, as well. I have been arguing the same for years. Pakistan’s economy is grossly undervalued, perhaps for political reasons by the ruling elite and army junta. It’s at least triple or quadruple the size of the official numbers.

 

[Cryptonian]

According to your post, when India rebased it's economy, it kept a difference of 4 years. That difference was 6+ years incase of Pakistan.

But India is not rebasing it's GDP every 2-3 years.

If I remember correctly Bangladesh rebased it's economy with 2 years gaps. This is why their economy grew so much in short time. It's not thumb rule to rebase after every 5 years. If the gap is large enough (just like we have almost 8 years gap in rebasing now), then you can even do it with 1 year gap.

If our GDP is rebased till 2024 rates. They of course we will wait till 2029 at least to rebase it again till 2029 rates.

No, Bangladesh's last rebase happened in 2020-21 with base year 15-16.

 

[S.Y.A]

I am no econ major, but the concept I have been told and read is:

1- Increase your rates. Everyone increases rates.
2- The consumer pays more
3- You get more profit
4- You then use that profit to pay those higher salaries and be compliant with laws.
5- Government gets more money, so they reduce the power rates etc.

Of course this is a year long strategy, not a quick one.

But we need to make a start from somewhere.

Labor laws are already non existent in Pakistan.

Leave out the small Kariana store in some village, but at least do tax the retailers sitting in F7 and F10 markaz. Tax the small industries operating in every nook and cranny in Lahore. Tax the tire shops and body shops in Sultan ki Khui. Those guys are selling 70k car doors tax free!

basically make things even more expensive, cause inflation and make things out of reach for the poor.

there will be no higher salaries when there are high margins. that assumption is nothing but a fairytale. textile guys made tons of money in 2020-21, and they still cut salaries in half saying that covid has made things difficult. banks recently posted profits of 30 billion plus. salaries otoh, didnt see any increase. the higher salaries because fo higher profits is nothing but a myth.

agree with the last para though.

 

[sentry]

According to your post, when India rebased it's economy, it kept a difference of 4 years. That difference was 6+ years incase of Pakistan.

Basically the rebasing years are selected based on the statistical stability of that economic year ie.., the completeness of the data. India is going to rebase its economy to 2023 base year soon. @CallSignMaverick , India will see substantial upward revision in GDP numbers. This is because the new base year will account for the emergence of new industries, improved economic activities, and technological advancements that were not fully captured in the previous base year.

Sectors like Digital economy, Startup ecosystem, Green energy, Healthcare and Biotechnology, Telecommunication and internet services, Entertainment and media, Real estate and Infrastructure, Agritech, Logistics and Supply Chain, Educational technology etc has seen substantial growth over the past decade. Lot of positive structural changes happened to the economy over the past decade, the new base year numbers will reflect the current realities of our economy.

 

[Affan]

a friend of mine decided to file his return his only income is from salary credit into his account. his name appear in draw for audit. he show all source and everything still he pay 20k to auditor for clearance

 

[Affan]

setting up a manufacturing plant is like gathering all kind of haramkhor around u. last year a person from environment protection visit me and ask for money i said there is nothing environment un friendly going on and his logic was cutting cloth through scissor destroying air quality so u have to pay. sometime civil defence come and visit for the share . i am telling only about least concern departments . its better to shut u cant fill tummies of all

 

[RealNapster]

Basically the rebasing years are selected based on the statistical stability of that economic year ie.., the completeness of the data. India is going to rebase its economy to 2023 base year soon. @CallSignMaverick , India will see substantial upward revision in GDP numbers. This is because the new base year will account for the emergence of new industries, improved economic activities, and technological advancements that were not fully captured in the previous base year.

Sectors like Digital economy, Startup ecosystem, Green energy, Healthcare and Biotechnology, Telecommunication and internet services, Entertainment and media, Real estate and Infrastructure, Agritech, Logistics and Supply Chain, Educational technology etc has seen substantial growth over the past decade. Lot of positive structural changes happened to the economy over the past decade, the new base year numbers will reflect the current realities of our economy.

Exactly. The same can be said for Pakistan which only started considering construction as "Industry" in 2020-21. Now that is a sector employing millions.

 

[Faani83]

Missing target, Pakistan achieves GDP growth of 2.38pc for ongoing fiscal year

ISLAMABAD - Pakistan has missed the GDP’s estimated target of 3.5 percent for ongoing fiscal year announced in the budget for FY2023-24

www.nation.com.pk

Missing target, Pakistan achieves GDP growth of 2.38pc for ongoing fiscal year​

NAC approves overall final growth of annual GDP during PTI’s tenure of FY2021-22 at 6.18 percent against estimated 6.17 percent​

SLAMABAD - Pakistan has missed the GDP’s estimated target of 3.5 percent for ongoing fiscal year announced in the budget for FY2023-24 and achieved growth of 2.38 percent.

The National Accounts Committee (NAC) on Tuesday approved the overall final growth of annual GDP during PTI’s tenure of FY2021-22 at 6.18%, against the estimated 6.17%, and further downward revised growth of PDM government during FY2022-23 to -0.21%, which was estimated at -0.17% in the previous meeting.

The NAC approved the provisional growth of GDP at 2.38% for the ongoing FY2023-24 against the estimated target of 3.5%. The 109th meeting of the NAC was held with Secretary, Ministry of Planning, Development and Special Initiatives in chair. The committee approved the quarterly GDP growth rates for Q1 (revised), Q2 (revised), and Q3 during FY2023-24 and annual growth rates for 2021-22 (final), 2022-23 (revised) and 2023-24 (provisional).
The committee also approved the provisional growth of GDP at 2.38% during ongoing FY 2023-24. The provisional growth in agriculture is 6.25%, whereas it is 1.21% for both industry as well as services. The healthy growth of agriculture is mainly due to double-digit growth in important crops i.e. 16.82% on back of bumper crops of wheat (11.64% from 28.16 to 31.44 MT), cotton (108.22% from 4.91 to 10.22 million bales) and rice (34.78% from 7.32 to 9.87 million Tons). Two important crops i.e. sugarcane (-0.39% from 87.98 to 87.64 million tons) and maize (-10.35% from 10.99 to 9.85 million tons) have posted negative growth. Further, provisional growth in other crops is 0.90%, cotton ginning & miscellaneous component 47.23%, livestock 3.89% and forestry 3.05%.

Industry in 2023-24 has shown a growth of 1.21% provisionally. Mining & quarrying industry has witnessed a growth of 4.85% because of increase in production of crude oil (1.51%), coal (37.72%), other minerals (7.57%) e.g. limestone (7.95%), marble (23.22%). Large scale manufacturing has witnessed a nominal growth of 0.07% with mixed trend in the production of various groups e.g. food (+1.69%), beverages (-3.43%), textile (-8.27%), tobacco (-33.59%), non-metallic mineral products (-3.89%), wood (+12.09%), coke & petroleum (+4.85%), and pharmaceuticals (+23.19%). Electricity, gas and water supply industry has shown a negative growth of 10.55% because of decrease in subsidies in real terms due to high deflator. Construction industry increased by 5.86% due to increase in construction-related expenditures by private and public sector enterprises.
Services industry has also shown a growth of 1.21% in 2023-24. Wholesale and retail trade has witnessed a growth of 0.32% because of positive growth in agriculture output. Transport and storage industry has increased by 1.19% because of increase in output of railways, water transport, and road transport. Due to high inflation, real growth in information & communication, finance & insurance and public administration and social security industries has become negative at 3.02%, 9.64% and 5.25% respectively. Further, both education and human health and social work industries have posted positive growth at 10.30% and 6.80% respectively. Other private services have been estimated at 3.58% on the basis of indicators received from the sources. The committee approved the revised first and second quarter estimates of 2023-24. Overall GDP for Q1 and Q2 for FY 2023-24 has witnessed a revised growth of 2.71% and 1.79% as compared to 2.50% and 1.0% estimated in 108th NAC meeting.

 

[Faani83]

https://www.nation.com.pk/22-May-20... provisional,and Special Initiatives in chair

 

[onlinpunit]

Every country in this world has an informal/ black market. It's not something to be proud off !!

 

[FuturePAF]

Oh yaar US day multimillionaire doing da same thing! Saara paisa mulak say bahar no? Tens of millions of dollars aur buss naam nehad de humreeki? Many humreeka multimillionaire now canceling their US citizenship if getting taxed beyond a reasonable limit. Araam say ja k live in da far east or EU or Caribbean islands….utthay tax less dan half no?

Mainnay to tax nahi dena ab…..thinking bout canceling my chutiya US citizenship.

Lhun** tay charrhay US and its citizenship…..

I see you have been watching Nomad Capitalist videos

Btw, if Pakistan has a $800-900 Billion GDP, then surely this economy can be taxed. If it can’t be taxed, it’s not a real number, as far as the world is concerned.

All this talk of an undocumented economy is probably to hide how bad the economy (official and unofficial) is really going. But you can’t blame them from some “Pravda” when the real news is so bad, for so long. Got to change the narrative, ya know.

 

[Lulldapull]

I see you have been watching Nomad Capitalist videos

Btw, if Pakistan has a $800-900 Billion GDP, then surely this economy can be taxed. If it can’t be taxed, it’s not a real number, as far as the world is concerned.

All this talk of an undocumented economy is probably to hide how bad the economy (official and unofficial) is really going. But you can’t blame them from some “Pravda” when the real news is so bad, for so long. Got to change the narrative, ya know.

True what you say……bohot log Malaysia/ Bangkok ja re hain….. both clean low crime places out east. Yaar 25% say zyada tax is too much already. All these western countries just making a killing from not just tax, but Medicare and 401k then superannuation and then insurance this insurance that then registration for car…..screw all this bhai…… just walk away.