Economic Survey of Pakistan 2005

Posted June 6, 2005 to Pakistan category.

The Economic Survey of Pakistan 2004-2005 was released by the govt. on June 4, 2005. Even the overviews are a bit long, so the following is quick summary of the key facts:

Growth rate: 8.4% this is the figure being talked about everywhere - making Pakistan the second fastest growing economy in the world, just behind China.

Inflation: 9.3%, compared to 3.9% last year.

Net Govt. Revenue: Rs 451.1 billion during the first nine months of the fiscal year, expected revenue Rs 590 billion against a total expenditure estimated at Rs.1050.4 billion in 2004-05.

Defence expenditure: Rs 194 billion, 7.5 per cent higher than last years. this figure is wrong, as it does not include pensions, and a few other items such as military pensions of over Rs35 billion.

Per capita income: $736, almost 12 per cent higher than last years $657.

GDP: $123 billion.

Literacy rate: 52%. This is a doubtful figure, and was questioned during the press conference - no one believed it. Pakistan's official definition of literacy is not in line with international norms, hence 52% is extremely optimistic

Unemployment rate: 7.7%

Per capita water availability: 1,005 cubic metres this is very low

Agriculture: 7.5% growth, but 38% of Pakistan�s irrigated land is waterlogged and 14% is saline. Agriculture accounts for nearly 23 per cent of Pakistan�s GDP and employs 42 per cent of its workforce.

Handouts give to nationalized loss making companies: Rs 94.57 billion, or 16% of all taxes! this is a staggering figure. The major beneficiaries blood sucking leeches on the back of the Pakistani taxpayer are FFC Jordon, TCP, PIA, Pakistan Steel, Railways, Wapda, KESC, Saindak, Utility Stores and others

Debt: $36.62 billion external and approx $73 billion internal. More than 30% of Pakistan's budget goes to debt servicing.

Exports: * $10.2 billion* in the first 9 months of the current fiscal year.

Imports: $14.5 billion in the first 9 months of the current fiscal year.

Roads: 259,758 Km in March 2005

Health Budget: Rs 38.0 billion.

Electricity Generation Capacity: 19,389 MW both thermal and hydel

The actual survey :: The Ministry of Fianace has a actual website, with usefull content! Thats quite amazing, considering the rest of the govt. websites.

reactions to the survey:

The paradox of our economic situation is that despite higher economic growth, the trickledown effect to address issues of poverty alleviation, or bridging widespread income inequality or creating more jobs, has not taken place as much as one would have wished.
>> Outgoing fiscal year: options and constraints

An interesting question: Is high economic growth combating rural poverty?

What are the effects of the stock market boom and the rise in property values? There are other interesting questions... more links will be added later.

Overview of the Economic Survey 2004-2005

executive summaries by the leading newspapers