Karachi contributes Rs 16 billion to GDP a day

[aks18]

more then 60% in pakistan's GDP is of Punjab province if we add 42% of karachi it crosses 100% mark and what about kpk and rest of sindh n blochistan's economy and punjab's economy have crossed 100 billion dollars mark in 2009 in guess and rite now over all gdp of pakistan is 210 billion dollars and punjab is the only province whose economic growth is greater then other provinces

 

[aks18]

In 2007, Punjab achieved a growth rate of 7.8% and during the period 2002-03 to 2007-08, its economy grew at a rate of between 7% to 8% per year. and during 2008-09 grew at 6% against the total GDP growth of Pakistan at 4%.

 

[darkinsky]

more then 60% in pakistan's GDP is of Punjab province if we add 42% of karachi it crosses 100% mark and what about kpk and rest of sindh n blochistan's economy and punjab's economy have crossed 100 billion dollars mark in 2009 in guess and rite now over all gdp of pakistan is 210 billion dollars and punjab is the only province whose economic growth is greater then other provinces

well GDP is not counted by the population, its by the available resources, if the GDP is not equal to the population demand, then its a short fallmeans, the shortfallof food, electricity and gas we are facing

the sui gas extracted from balochistan alone will be enough to count balochistan GDP higher than punjab GDP

In 2007, Punjab achieved a growth rate of 7.8% and during the period 2002-03 to 2007-08, its economy grew at a rate of between 7% to 8% per year. and during 2008-09 grew at 6% against the total GDP growth of Pakistan at 4%.

well because punjab is not the one facing wars unlike balochistan, karachi and KP

 

[Shabaz Sharif]

Anyone with little common sense will know these figures are BS.

 

[Jango]

and you believe the other two, especially that 62% goods are being purchased in Karachi ?

as far as contribution to GDP is concern, if I am not mistaken its around 15-20 %.


P.S. calling spade a spade, doesnot mean we are trying to undermine the importance of Karachi... surely it is an international city and economic hub of Pakistan.

No, i have doubts about the other two as well, but do not have solid facts to counter the arguments in the above posts.

But they are most probably wrong.

In 2007, Punjab achieved a growth rate of 7.8% and during the period 2002-03 to 2007-08, its economy grew at a rate of between 7% to 8% per year. and during 2008-09 grew at 6% against the total GDP growth of Pakistan at 4%.

in short, the government has screwed us more than the Undemocratic, un constitutional Mushy.

Oh well, all for democracy.

 

[Sugarcane]

42% GDP is like saying there is no other industrial zone in the country but the one nearby Karachi.. and is it the largest? I dont think so...

70% income tax is like no one else pays? come on yar...its so lame..

62% of the goods are being purchased in Karachi is just so out of proportion...

out of 20 million population, majority belong to lower classes and their buying power too is with respect to their status.

These states really dont make any sense at all...

Valid points - Here are some facts

GDP
A substantial chunk of Sindh’s GDP is attributed to Karachi (the GDP of Sindh as a percentage of Pakistan’s total GDP has traditionally hovered around 29%/30%). Karachi’s GDP is around 20% of the total GDP of Pakistan. A PricewaterhouseCoopers study released in 2009, which surveyed the 2008 GDP of the top cities in the world, calculated Karachi’s GDP (PPP) to be $78 billion (projected to be $193 billion in 2025 at a growth rate of 5.5%). It confirmed Karachi’s status as Pakistan’s largest economy, well ahead of the next two biggest cities Lahore and Faisalabad, which had a reported GDP (PPP) in 2008 of $40 billion and $14 billion, respectively. Karachi's high GDP is based on its large industrial base, with a high dependency also on the financial services sector. Textiles, cement, steel, heavy machinery, chemicals, food, banking and insurance are the major industrial sectors contributing to Karachi's GDP.

Revenue collection
In line with its status as a major port and the country's largest metropolis, it accounts for a lion's share of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year book tax and customs units in Karachi was responsible for 46.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. Karachi also accounts for 75.14% of customs duty and 79% of sales tax on imports. Therefore, Karachi collects a significant 53.38% of the total collections of the Federal Board of Revenue, out of which 53.33% are customs duty and sales tax on imports. Revenue collected from Karachi includes revenue from some other areas since the Large Tax Unit (LTU) Karachi and Regional Tax Offices (RTOs) Karachi, Hyderabad, Sukkur and Quetta cover the entire province of Sindh and Baluchistan.[1] Karachi's indigenous contribution to national revenue is 25%.

But still - Karachi is life line of Pakistan's economy

 

[manofwar]

how much is Rs 16 billion in dollars??

 

[Sugarcane]

how much is Rs 16 billion in dollars??

Divide by 90, i am not good in maths

 

[haviZsultan]

Thats great but I am sure this can improve a great deal if we increase security and improve the law and order situation in Karachi. Daily bloodshed, political violence and death can only serve to hamper the economy of the city. We need to do more in this regard and improve the security situation.

 

[darkinsky]

Valid points - Here are some facts



But still - Karachi is life line of Pakistan's economy

everybody can edit wikipedia

 

[Sugarcane]

everybody can edit wikipedia

Well - everybody can't edit FBR records. If you have credible fact to counter than please enlighten me, i am always open to correct my knowledge.

None can deny the importance of Karachi and it's status as economic hub and 20% GDP contribution is a significant share from one city. But i have problem with people who says that only karachiites pays 70% taxes, there is hell of difference between paying taxes and collecting taxes.

 

[aks18]

well GDP is not counted by the population, its by the available resources, if the GDP is not equal to the population demand, then its a short fallmeans, the shortfallof food, electricity and gas we are facing

the sui gas extracted from balochistan alone will be enough to count balochistan GDP higher than punjab GDP



well because punjab is not the one facing wars unlike balochistan, karachi and KP

well i know gdp is not about the population but punjab do have higher ratio of gdp in pakistan;s economy which is more then 60% of pakistan i can provide you Asian development report on punjab economy ,secondly punjab will never face such wars in future also karachi is destroyed by the politicians of sindh they every time play politics on racism and punjabis dnt fell in such fool things .. even this thingy of karachi generates 70% revenue of pakistan is fed by leaders of MQM and other parties in karachi , karachi is important part of our economy we cant neglect this fact but this great city have lost its charm which it had in past

 

[darkinsky]

Well - everybody can't edit FBR records. If you have credible fact to counter than please enlighten me, i am always open to correct my knowledge.

you have to showme source other than wikipedia, for me the article is good enough, its you who is trying to debunk the above data

well i know gdp is not about the population but punjab do have higher ratio of gdp in pakistan;s economy which is more then 60% of pakistan i can provide you Asian development report on punjab economy ,secondly punjab will never face such wars in future also karachi is destroyed by the politicians of sindh they every time play politics on racism and punjabis dnt fell in such fool things .. even this thingy of karachi generates 70% revenue of pakistan is fed by leaders of MQM and other parties in karachi , karachi is important part of our economy we cant neglect this fact but this great city have lost its charm which it had in past

the economy of karachi is not run by MQM, dont try to validate your arguements with MQM bashing,please try harder

 

[aks18]

1.7. With a total population of about 74 million in 1998—well over half of the national total—and
an estimated provincial GDP that accounts for about 57 percent that of Pakistan overall, clearly
factors that affect the economy of the Punjab have a bearing on the country as a whole.


1.9. Between 1991/92 and 2002/03, the provincial GDP of the Punjab increased in real terms at
about 4.5 percent a year, faster than the 3.7 percent annual growth recorded in the rest of the
country. Given that population growth in the Punjab was in the neighborhood of 2.4 percent a year,
the per capita income in the province increased annually at about 2.1 percent during this period. This
would be the average rate of growth; obviously, for many individuals the increase would have been less than the average.

http://www.google.com.pk/url?sa=t&rct=j&q=1.7.%20with%20a%20total%20population%20of%20about%2074%20million%20in%201998%E2%80%94well%20over%20half%20of%20the%20national%20total%E2%80%94and%20an%20estimated%20provincial%20gdp%20that%20accounts%20for%20about%2057%20percent%20that%20of%20pakistan%20overall%2C%20clearly%20factors%20that%20affect%20the%20economy%20of%20the%20punjab%20have%20a%20bearing%20on%20the%20country%20as%20a%20whole.%20%20%201.9.%20between%201991%2F92%20and%202002%2F03%2C%20the%20provincial%20gdp%20of%20the%20punjab%20increased%20in%20real%20terms%20at%20about%204.5%20percent%20a%20year%2C%20faster%20than%20the%203.7%20percent%20annual%20growth%20recorded%20in%20the%20rest%20of%20the%20country.%20given%20that%20population%20growth%20in%20the%20punjab%20was%20in%20the%20neighborhood%20of%202.4%20percent%20a%20year%2C%20the%20per%20capita%20income%20in%20the%20province%20increased%20annually%20at%20about%202.1%20percent%20during%20this%20period.%20this%20would%20be%20the%20average%20rate%20of%20growth%3B%20obviously%2C%20for%20many%20individuals%20the%20increase%20would%20have%20been%20less%20than%20the%20average.&source=web&cd=1&ved=0CB8QFjAA&url=http%3A%2F%2Fwww2.adb.org%2FDocuments%2FReports%2FEconomic-Report%2FPAK%2Fpunjab-economic-report.pdf&ei=AQeDT7PfM4OeOr_qgZUH&usg=AFQjCNFJ1N2IhPJOur9kcXrdh_NKo-HxAA

here is link of PDF file of Asian development bank over punjab's economy .read whole report on economy of punjab by asian development bank and the words i quoted are old estimates .

you have to showme source other than wikipedia, for me the article is good enough, its you who is trying to debunk the above data



the economy of karachi is not run by MQM, dont try to validate your arguements with MQM bashing,please try harder

i know karachi's economy is not run by mqm but leaders of mqm do fed there people that punjab is eating all of the taxes which people of karachi pays and karachi is fedding whole pakistan and punjabis are just enjoying on the money of karachi lol i have met so many people of karachi they are so much misguided

 

[darkinsky]

Karachi is the financial capital of Pakistan. It accounts for the lion's share of Pakistan's GDP and generates about 65% percent of the national revenue

Economy Of Karachi