Double-counting: GDP overestimated, may be slashed by 10%

[illusion8]

So does that mean that Pk was spending money that it didn't actually have? I think this is a scam and doctoring of the books. How can you budget funds that you actually don't have and give statements of expenditure that you actually haven't spent? 10% manipulation for a small economy is pretty high.

 

[jagjitnatt]

So does that mean that Pk was spending money that it didn't actually have? I think this is a scam and doctoring of the books. How can you budget funds that you actually don't have and give statements of expenditure that you actually haven't spent? 10% manipulation for a small economy is pretty high.

Yes. There is a huge scam in the books. There is very little that got spent, rest went into the pockets of politicians, army, govt people.

 

[dott]

is there anyone who checks balance of payments in pakistan? guys how can this happen for several years.

 

[yyetttt]

Fits perfectly Mr.10% took away 10%.... I will remember this in a Pakistan history book to my grand children they will ask "what was worst president of pakistan" i will say zardari

 

[z9-ec]

i think this is a huge scam happening for many years. i mean how can u count double cost for products produced for several years.

mistakes happen in india but are corrected soon.

IF and I mean only IF this report is true. IMO, this would only mean the incumbent government is effectively trying to remove it's traces of corruption in past 5 years.

 

[yyetttt]

is there anyone who checks balance of payments in pakistan? guys how can this happen for several years.

There is, it's just that there is no one to check the department that checks coruption and scandals... As Imran Khan said one vulnerability and strength for corrupts is that there is no independent judicial branch in other words the federal courts cannot check corruption of other branches (checks and balances)

 

[Roybot]

IF and I mean only IF this report is true. IMO, this would only mean the incumbent government is effectively trying to remove it's traces of corruption in past 5 years.

Why are you doubting the news though? BTW Rebasing of economy has got nothing to do with party politics.

 

[z9-ec]

Why are you doubting the news though? BTW Rebasing of economy has got nothing to do with party politics.

It's not official as yet. So anything as of now is purely speculative.

I'm not sure if you're aware of this but Former Finance Minister Ishaq Dar (PML-N) is infamous for his short tenure with the ministry he came out on media in a press conference with irresponsible statements which eventually hurt the economy. Plus, the amount in question is huge 16.5 billion USD.

 

[Roybot]

It's not official as yet. So anything as of now is purely speculative.

I'm not sure if you're aware of this but Former Finance Minister Ishaq Dar (PML-N) is infamous for his short tenure with the ministry he came out on media in a press conference with irresponsible statements which eventually hurt the economy. Plus, the amount in question is huge 16.5 billion USD.

Well from the news it seems pretty official. I mean the statements came from some high level officers. I hope the news is wrong. It will be a big jolt to Pakistan otherwise.

 

[protest]

There were rumors that Musharaff had fudged the numbers to give credibility to his rule. Now even the democratic government has followed the same despotic behavior. Its a shame that many of Pakistanis trust on their institutions would wane.

 

[Shardul.....the lion]

Its OK mistake happens.
But to correct mistakes, and improve is utmost important and not keeping repeating mistakes.

 

[Zeeshan360]

Yes. There is a huge scam in the books. There is very little that got spent, rest went into the pockets of politicians, army, govt people.

Reminds me of the Satyam Scam

 

[Dance]

Whats the source for this article?!

 

[karan.1970]

Whats the source for this article?!

Double-counting: GDP overestimated, may be slashed by 10% – The Express Tribune

It would be interesting to go back to the time when this double counting started. My guess is that the 2001-2005 period which is considered the Golden period of economy under Mushy, is really a result of these fudged numbers and cooked books.. Looks like the only thing that went right under musharraf was a fake..

 

[Cheetah786]

LOL why am i not surprised but good news is No more loans and that means not much left to steal.