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Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.
Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.
I really hope so mate.
How long it could take us to become $1 Trillion economy if the government works sincerely and what measurements should be taken?
@Pomegranate @Akheilos @DESERT FIGHTER @Stealth @farhan_9909 @save_ghenda @syedali73 @Donatello @Umair Nawaz @A1Kaid
How long it could take us to become $1 Trillion economy if the government works sincerely and what measurements should be taken?
@Pomegranate @Akheilos @DESERT FIGHTER @Stealth @farhan_9909 @save_ghenda @syedali73 @Donatello @Umair Nawaz @A1Kaid
Toronto's GDP is 240 billion, I find it hard to believe that a country as big as Pakistan has same economy as toronto. The only difference is they count for every screw they make here, whereas Pakistan well we know how it is there.
I have been to Pakistan many times and cannot see much of our exports apart from food products and IT-services. What else is there that could boost our economy?
You obviously don't know much then Pakistan is a leading supplier of sports products to the entire world and also in surgical instruments. Pakistan's a large exporter of clothes and textiles. Pakistan's also on verge of becoming a big defense exporter, POF is exporting products in lucrative markets.
That has more to do with a much higher proliferation of philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.Agreed. However Pakistan on the whole comes out better on absolute poverty then India suggesting the extreme poor are better off in Pakistan then their compatriots in India. Hunger is a measure of this and Pakistan does better..
Certain problems with those industries include a massive lack of quality control and misstating product capabilities, along with lack of compliance with ethical work standards. These lead to a general lack of trust with Pakistani products overseas.
That has more to do with a much higher proliferation philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.
Certain problems with those industries include a massive lack of quality control and misstating product capabilities, along with lack of compliance with ethical work standards. These lead to a general lack of trust with Pakistani products overseas.
These lead to a general lack of trust with Pakistani products overseas.
I think the topic should be when Pakistan's economy would hit $ 1.5 Trillion. It's very close to $ 1 trillion already. The priority should be to get t $ 1.5 trillion in the next 5-7 years. Which isn't very difficult, but is challenging with the power outage. The Chinese trade corridor alone will have $ 250-300 billion additional revenue every year once its all setup. Another $ 50-75 billion worth of investments (majority from inside Pakistan), are expected associated to the real estate, hospitals, schools, businesses which will open up around the trade route and will help expand the economy further.
So really the topic should be when to get to $ 1.5 trillion.
If there was massive lack of quality control in Pakistani sports products, then Pakistani products would not be used in Olympic games, Fifa world cup, and European football matches. Pakistani sports products were chosen because they were in fact better than the Chinese sports products in comparison.
Also a lot of those Pakistani companies in those industries are ISO certified. As for lack of ethical work standards, you can make the same complaint about Chinese companies, in fact westerners do.
I don't think thats why there is lack of trust in Pakistani products overseas. Pakistani companies need to better advertise and promote themselves they aren't as recognized as other Asian companies who have build up name recognition. There are a lot of hospitals in US that use Pakistani surgical instruments because of price point and quality. Another factor could be political and current events could hamper the made in Pakistan brand.
There is a reason why German companies buy Pakistani surgical instruments and get them branded Made in Germany...
However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.
All the official figures are garbage.There is always certain amount of slip in the official figures and the reality on the ground. Not everybody declares their true income. That why we call the unofficial economy the 'black economy'.
However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.
Less than 1 percent of Pakistanis pay tax – Survey | Aboard The Democracy Train
Given the monumental incompetance by FBR as demonstrated by the numbers of most of the 856,987 taxpayers will be paying nominal amount of tax and getting away with 'murder'. Therefore Pakistan's tax iceberg is differant from most because larger mass of it is submerged. This is the point to keep in mind and not compare it to Canada, USA or UK. What is the exception in UK is ithe norm in Pakistan.
Anecodotal evidence will show any observer. Everytime I go to Pakistan I see huge housing estates sprouting everywhere and cars, consumer goods on sale which does not even by the slightest fit with what figures I read on papers. So if people are not making money where are they getting the money to spend on cars, houses, phones? I just checked and car ownership rates are higher in Pakistan then India, extreme malnutritution is less in Pakistan then India, sanitation access is better in Pakistan but the crazy gross domestic capita is lower then India.
Does this add up? So if figures are to be believed Indian's make more money but then don't bother buying cars, don't bother feeding their children, don't bother building sanitation facelities but hide the money under the bed ....
Yes of course .....
Cars -
Pakistan - 57
India -18
List of countries by vehicles per capita - Wikipedia, the free encyclopedia
WHO | Fast facts
Indian poverty levels higher than Pakistan's, says UN report - Telegraph
Again, the thread was purely discussing Pakistan, why bother bringing in you poor neighbors into the discussion.Cars per capita is a very good instrument to estimate the disparity between rich and poor. It sounds like Pakistan has relatively better base of middle class and in India, either you are super rich or sleeping on the road. That is why I always say that India's gdp per capita is also calculated inaccurately/unfairly. If you have a billionaire earning 100 million dollars per year and 1000 poor people earning 300 dollar per year. It works out to be 102,897 per capita. Not a true reflection of ground reality.
(Although OT)That has more to do with a much higher proliferation of philanthropy in Pakistan as compared to India. As a general rule Indians are sadly more stingy than their Pakistani counter parts and more skewed in their philanthropy. So it will be either unbelievably generous people or complete misers. It does not mean that similar personality distributions dont exist in Pakistan, but that the Muslim Majority society and religious/cultural compulsion forces even such misers to dish out some alms every now and then.