GDP rebasing: no more delays!

[RealNapster]

What are the reasons we are still not reading our economy even though it is in the news since 2017 that government is "planning to rebase" and is working on it. So what is the problem than ? Why haven't we don't it already ?? @Zibago

It is estimated as per the above article that rebasing may increase GDP data by upto 25%. This means PTI government can increase GDP figure by actually doing no extra thing but just accumulating the economic policies and growths results in our latest economic data. And we will have a GDP figure of around $350-370 billion even with the current dollar rate. If after this we are than able to reduce dollar to Pkr 155, we will be looking at a GDP figure of $400-430 billion in just 2 years. Which in 2023 election campaign PTI will be able to cash

1. A GDP figure of atleast $400 billion plus.

2. Low Debt to GDP ratio. Around 32% , currently it is 43%.

3. High Per capita . Around $1900

4. Better conditions of national economy.

 

[S.Y.A]

What are the reasons we are still not reading our economy even though it is in the news since 2017 that government is "planning to rebase" and is working on it. So what is the problem than ? Why haven't we don't it already ??

Laziness. Same reason that govts dont want to increase the tax base, do not register businesses, and just keep piling on indirect taxes. All of this requires actual legwork, supervision, coordination etc., rather than sitting around in ministerial palaces issuing orders or passing time on tv shows.

It is estimated as per the above article that rebasing may increase GDP data by upto 25%.

It may be more than that, housing sector and services sector have really grown a lot.

 

[RealNapster]

It may be more than that, housing sector and services sector have really grown a lot

In my opinion, PTI won't deserve next government if they failed to rebase economy even in 2022.

 

[S.Y.A]

In my opinion, PTI won't deserve next government if they failed to rebase economy even in 2022.

there is no other option. pmln and ppp will simply destroy whatever else is remaining.

 

[RealNapster]

there is no other option. pmln and ppp will simply destroy whatever else is remaining.

If I was IK. And opposition was barking 24/7 and blaming me for destroying Pakistan's middle class and its economy. The first thing I would have done is rebase the economy. That would have given me a position of strength. No one can fight mafias from position of weakness. If than they would say I destroyed Pakistan's economy, I would ask HOW ?? GDP is literally $100 billion more than what you left it at ...

 

[313ghazi]

If I was IK. And opposition was barking 24/7 and blaming me for destroying Pakistan's middle class and its economy. The first thing I would have done is rebase the economy. That would have given me a position of strength. No one can fight mafias from position of weakness. If than they would say I destroyed Pakistan's economy, I would ask HOW ?? GDP is literally $100 billion more than what you left it at ...

Maybe he's delaying it so as to show it as a sign of success from his tenure. If he did it earlier on opp could have argued it was their success that had simply been shown. Wishful thinking imho.

He is surrounded by financial idiots.

 

[S.Y.A]

He is surrounded by financial idiots.

as well as people who are clueless about administration.

 

[RealNapster]

Maybe he's delaying it so as to show it as a sign of success from his tenure. If he did it earlier on opp could have argued it was their success that had simply been shown. Wishful thinking imho.

He is surrounded by financial idiots.

Still I read the article suggesting that the calculations are based on the data till financial year 2015-16. Everyone will know it's due to the previous governments. But still he will get credit of rebasing the economy. Or maybe they have delayed the rebasing and are working on data of 2016 onward too.


"" The government has mandated Pakistan Bureau of Statistics (PBS) to go ahead with approval of much-awaited re-basing of national accounts from fiscal year 2005-6 to 2015-16 in order to capture the latest ongoing economic activities. ""

That being said. We won't be able to rebase our economy that soon after this rebasing. So it should include data till 2020 atleast. Otherwise even in a year post this rebasing you will still have to accommodate data of almost 6 years 2016-2022 for next rebasing. The further you delay next rebasing the more you will repeat the same mistake of not rebasing economy post 2006.

With data of 2006 - 2016 , we will never be able to take full advantage of the rebasing and will end up in the same cycle 2-3 years after this rebasing.

PBS mandated to rebase the national accounts

ISLAMABAD: The government has mandated Pakistan Bureau of Statistics to go ahead with approval of much-awaited re-basing of national accounts from fiscal year 2005-6 to 2015-16 in order to capture...

www.google.com

 

[Dr-who]

What are the reasons we are still not reading our economy even though it is in the news since 2017 that government is "planning to rebase" and is working on it. So what is the problem than ? Why haven't we don't it already ?? @Zibago

It is estimated as per the above article that rebasing may increase GDP data by upto 25%. This means PTI government can increase GDP figure by actually doing no extra thing but just accumulating the economic policies and growths results in our latest economic data. And we will have a GDP figure of around $350-370 billion even with the current dollar rate. If after this we are than able to reduce dollar to Pkr 155, we will be looking at a GDP figure of $400-430 billion in just 2 years. Which in 2023 election campaign PTI will be able to cash

1. A GDP figure of atleast $400 billion plus.

2. Low Debt to GDP ratio. Around 32% , currently it is 43%.

3. High Per capita . Around $1900

4. Better conditions of national economy.

Agree with you, but our tax & revenue to GDP will be extremely low, so will have to work hard time increase it. Our debt to GDP will be lower but 25% seems to far fetched.
Hopefully someone higher up listens to your ur advice. Thanks

 

[Hakikat ve Hikmet]

One comparison with BD will give you an idea how underrated Pak GDP is! Few examples:

• BD has 0.5m automobiles. Pak has 25m.
• BD uses 100K bpd of petrol. Pak consumes 1m bpd.
• BD sells 3K private cars per year. Pak sells 300K.
• Etc.

 

[Pakistan Space Agency]

In my opinion, PTI won't deserve next government if they failed to rebase economy even in 2022.

They'll do it during the election year for propaganda purposes.

 

[FuturePAF]

One comparison with BD will give you an idea how underrated Pak GDP is! Few examples:

• BD has 0.5m automobiles. Pak has 25m.
• BD uses 100K bpd of petrol. Pak consumes 1m bpd.
• BD sells 3K private cars per year. Pak sells 300K.
• Etc.

Is it really that low in Bangladesh for car sales and car ownership?

 

[Sal12]

Pak first needs to control the depreciation of $ otherwise this will keep bringing the GDP down.

 

[Maula Jatt]

Pak first needs to control the depreciation of $ otherwise this will keep bringing the GDP down.

have to increase reserves- meaning increasing exports
So long-term issue with no short-term solution

or someone smart can tell us a jugaar

 

[Sal12]

have to increase reserves- meaning increasing exports
So long-term issue with no short-term solution

or someone smart can tell us a jugaar

If increasing export takes time then at least reduce the imports even if it slows down the GDP growth rate. Hafiz Amin was doing better job than Shaukat Tarin.