Pakistan Becomes Majority Middle Class Country

[Georgeclark]

Read the ADB reports. Hope it'll dispel your ignorance.

Now first go and read what Povcal Net survey uses then consider quoting me next time.

 

[Donatello]

The charts you gave me are according every nations set limit, So you can enjoy being happy with it. Go out right now look out in the streets how many real middle class you find ?? Real Middle class earns - lower middle class : 500$-9000$ a year , Middle ones 10,000-30,000$ a year After that its upper middle class

Again, i'll emphasize, that Pakistan's real economic might is not at all known, because we have a much larger Black economy as a percentage of overall economy compared with India's. India's taxation is pretty decent, compared to us. But black money is still money, and hence can be spent on growing the economy, like purchasing real estate, purchasing luxury consumer goods like cars. If we go by reported numbers, then consumer goods shouldn't be making that much money, but they are......so where is the money coming from?

 

[Kambojaric]

Not even 1% believable.

On what grounds? You have the right to disagree but you then need to explain why.

 

[Georgeclark]

Again, i'll emphasize, that Pakistan's real economic might is not at all known, because we have a much larger Black economy as a percentage of overall economy compared with India's. India's taxation is pretty decent, compared to us. But black money is still money, and hence can be spent on growing the economy, like purchasing real estate, purchasing luxury consumer goods like cars. If we go by reported numbers, then consumer goods shouldn't be making that much money, but they are......so where is the money coming from?

Thats true, exactly even not just Pakistan many countries the Black money doesn't get counted but at the end it is the countries money and can be used at times of emergencies. hope I had that positive thing :3 because you raised a very good point

 

[he-man]

On what grounds? You have the right to disagree but you then need to explain why.

I have written 6-7 posts between this and my first post.

 

[Echo_419]

Man my days are definitely numbered.

On topic
Good for Pakistan

 

[Faiez]

Its the other way around.
There are no land reforms in pakistan till date.

Apart from that u are correct.

Look at the gini index.
I'm personally against income equality....so I have no bias in that sense...

 

[Kompromat]

Not a single thread goes without trolling.

 

[Georgeclark]

Not a single thread goes without trolling.

No worries buddy, its a part of everything, just that we should take care that whole thread doesn't become one :3 atleast some discussion is on

 

[Kompromat]

Not a single thread goes without trolling.

Not a single thread goes without trolling.

 

[Georgeclark]

^ Horus you got a glitch bro :3

 

[45'22']

Not a single thread goes without trolling.

The admins should set am example by not trolling


Anyways Congrats Pakistan
It's a positive development

Its my assumption and i am a real indian troll too.
On topic both india and pakistan are dirt poor with india performing marginally better than pakistan.But its almost the same.I have seen far too many people dying in hospitals due to lack of treatment resulting from monetary difficulties to come to this opinion.

Our people are probably some of the most poor and unfortunate beings on earth and i say this today with utmost sincerity.
Its a curse for a poor person to be born in subcontinent.

Banned for speaking the truth

 

[Kompromat]

RIP he man, get well soon.

 

[Shotgunner51]

Haq's Musings: Major Tipping Point: Pakistan's Middle Class Grows to 55% of Population

Majority of the households in Pakistan now belong to the middle class, a first in Pakistan's history, according to research by Dr. Jawaid Abdul Ghani of Karachi School of Business and Leadership (KSBL).

It's an important tipping point that puts Pakistan among the top 5 countries with fastest growing middle class population in Asia-Pacific region, according to an Asian Development Bank report titled Asia's Emerging Middle Class: Past, Present, And Future. The ADB report put Pakistan's middle class growth from 1990 to 2008 at 36.5%, much faster than India's 12.5% growth in the same period.



Source: Dr. Abdul Ghani



From 2002 to 2011, the country's middle class, defined as households with daily per capita expenditures of $2-$10 in 2005 purchasing power parity dollars, grew from 32% to 55% of the population, according to a paper presented by Dr. Abdul Ghani at Karachi's Institute Business Administration's International Conference on Marketing. Dr. Ghani has cited Pakistan Standards of Living Measurement (PSLM) Surveys as source of his data.

Growing middle class is a major driver of economic growth, as the income elasticity for durable goods and services for middle class consumers is greater than one, according to a Brookings Institution study titled The Emerging Middle Class in Developing Countries.




Among some of the manifestations of the rising middle class, Dr. Abdul Ghani reports dramatic increase in the ownership of television sets, refrigerators and motorcycles in households in all income deciles in Pakistan. At the same the total household assets have nearly doubled from $387 billion in 2001-02 to $772.6 billion in 2010-11 in terms of 2005 purchasing power parity dollars.

Consumer spending in Pakistan has increased at a 26 percent average pace the past three years, compared with 7.7 percent for Asia, according to data compiled by Euromonitor International, a consumer research firm. Pakistan's rising middle class consumers in major cities like Karachi, Lahore and Islamabad are driving sales of international brand name products and services. Real estate developers and retailers are responding to it by opening new mega shopping malls such as Dolmen in Karachi and Centaurus in Islamabad.

Pakistan's transition to middle-class middle-income country over the last decade mainly during Musharraf years represents a major tipping point for the country's economy. It is likely to accelerate economic growth driven by consumption and draw greater investments in production of products and services demanded by middle class consumers. Some of it is already in evidence in booming sales of durable goods (TV sets, refrigerators, motorcycles) AND non-durables (cosmetics, shampoo, toothpaste, processed foods, etc) in Pakistan's booming FMCG sector.

Related Links:

Haq's Musings

Pakistan's Official GDP Figures Ignore Booming FMCG Sector

Musharraf Accelerated Human and Economic Development in Pakistan

Pakistan's Growing Middle Class
Pakistan's GDP Grossly Under-estimated; Shares Highly Undervalued
Fast Moving Consumer Goods Sector in Pakistan

3G-4G Roll-out in Pakistan
Pakistan Government Deploys Mobile Apps
Telecom and Media Boom in Pakistan

Haq's Musings: Major Tipping Point: Pakistan's Middle Class Grows to 55% of Population

Good news, congrats!
I have cross-checked WB figures, Pakistan is doing well in reducing poverty, in South Asia only second to Sri Lanka, that's good job bros.


Though in the other thread I expressed my doubt on the middle-class brackets of $2-10 a day, which apparently seems too low. In my view middle class should have already achieved minimum financial freedom, capable of satisfying at least physiological and safety needs (with respect to Maslow's hierarchy), and in that case I think the lower bracket would as least be $10 a day.

 

[45'22']

RIP he man, get well soon.

Permanent Banned??

Good news, congrats!
I have cross-checked WB figures, Pakistan is doing well in reducing poverty, in South Asia only second to Sri Lanka, that's good job bros.


Though in the other thread I expressed my doubt on the middle-class brackets of $2-10 a day, which apparently seems too low. In my view middle class should have already achieved minimum financial freedom

Please share the data
I want to have a quick read on our developments