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Pakistan’s economy contracts by $33.4 billion: PBS

Dalit

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May 26, 2023 (MLN): The total volume of Pakistan's economy has decreased by $33.4 billion or 8.91%, from $375bn in FY23 to $341.6bn in FY22, according to the data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, per capita income stood at $1,568 in 2023 as compared to $1,766 in the previous year depicting a decrease of 11.38% YoY, PBS data further revealed.

The current fiscal year marks a decrease of $198 per capita income for Pakistan.

This was the third lowest per capita income in a decade, with the lowest in the decade being $1458 achieved in FY20 due to covid, whereas the highest achieved was $1768 in FY18

On the other hand. in the fiscal year 2021, the per capita income achieved was $1,677.

Health sector improved to 8.49% against the target of 3.8%.

The education sector also improved by 10.44% against the target of 4.9%.

While the performance of the Information and Communication sector exceeded the target of 6% with a growth rate of 6.9%, as stated in the report.

 
They will make a martyr out of our country, that's the only thing this Napak fauj is good at doing.
 
May 26, 2023 (MLN): The total volume of Pakistan's economy has decreased by $33.4 billion or 8.91%, from $375bn in FY23 to $341.6bn in FY22, according to the data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, per capita income stood at $1,568 in 2023 as compared to $1,766 in the previous year depicting a decrease of 11.38% YoY, PBS data further revealed.

The current fiscal year marks a decrease of $198 per capita income for Pakistan.

This was the third lowest per capita income in a decade, with the lowest in the decade being $1458 achieved in FY20 due to covid, whereas the highest achieved was $1768 in FY18

On the other hand. in the fiscal year 2021, the per capita income achieved was $1,677.

Health sector improved to 8.49% against the target of 3.8%.

The education sector also improved by 10.44% against the target of 4.9%.

While the performance of the Information and Communication sector exceeded the target of 6% with a growth rate of 6.9%, as stated in the report.

Ummm... how reliable is the news source?

I have yet to see on Dawn news.
 
Ummm... how reliable is the news source?

I have yet to see on Dawn news.

These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.
 
These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.
I saw the website. It does not look official or reliable.
 
These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.
This is not good news for Pakistan, especially considering how poorly the economy is doing.
 
These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.
I checked DAWN news business section. Still nothing about the Pakistani economy contracting.

This is not good news for Pakistan, especially considering how poorly the economy is doing.
Yes, I know, we are only a $400 billion dollar economy with 242 million people.
 
Ummm... how reliable is the news source?

I have yet to see on Dawn news.
I saw the website. It does not look official or reliable.
I checked DAWN news business section. Still nothing about the Pakistani economy contracting.

It is reliable, the PDM led government released their official figure at 0.29% which is a sharp contrast and downturn from 6.1% during Imran Khan's time.

The Express Tribune reported on it:


In addition, it is believed by some that the figure of 0.29% is actually fudged and the number would actually be in the negative.

 
This is what our aflatoon army high command has done.

I work for a large European asset manager on the emerging market fixed income side. Prior to RCO, my fund had significant exposure to Pakistan. More importantly, someone higher up in my company, on the equity side, got very bullish on Pakistan and launched a Pakistan focussed equity fund just prior to COVID. Based on economic outlook, fund got a very solid interest but then Ishaq Dar appeared on the scene. Since then, fund is down by 30-35% in dollar terms and investors cant get money out. Fund is on the verge of closing down. My company was not the only foreign investment house that was positive on Pak. Another fund which was promoting Pak was Tundra. You can look at their report from 2021.

I know few people who work at high level at multinationals. Given the quality of talent and cheap rates compared to rate in UAE or in India, these people were hiring people in Pak to do midoffice work. All these plans have been reduced to zilch.

The reason India has half a trillion in reserves while Pak has to lick dirty Arab and gora ghand is because India, despite being a country full of crap, is able to attract commercial investment. Under IK, country had taken baby steps on the path that India had taken two decades back. Investors who were willing to help Pakistan have been shot in the foot by Pak army. They will not look at Pak for at least another couple of years and that is the positive scenario based on IK coming back to power. Otherwise enjoy your fate or pray China takes pity. Keep insulting Chinese culture while killing Chinese expats and that route will close as well. Hafiz can take comfort from whisky. What will you do?
 

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