Pakistan Economy Nears Trillion Dollar PPP GDP Mark

[Asian.Century]

This will help Pakistan break into $ trillion GDP market in next few years:

Islamabad: Study conducted with help of US Agency for International Development (USAID) states that Pakistan has more than 10,000 trillion shale gas reserves.

Ministry of Petroleum stated that the United States (US) agency conducted surveys in different areas of Pakistan and compiled a comprehensive report. The report shows that Pakistan has more than 10,159 trillion cubic ft gas while 2,323 billion barrels of oil reserves.

Petroleum Minister Shahid Khaqan Abbasi said that industries all over the world are venturing in shale gas projects. However, Pakistan is abundant in the reserves.

The federal minister said that Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) have been given directives to hunt for shale hydrocarbon reserves in the country. However, cost of the product would be determined after taking into account the cost government would bear for hunt.

It is worth mentioning here that the world powers spend at least ten percent on exploration of shale gas. Abbasi said that the study began in January 2014 and completed in November this year. He said that the technology Pakistan has for hydrocarbon exploration could also be used for shale gas reserves.
However, he mentioned that technology still needs to be updated.

Zaid Muzaffar, Adviser to Ministry of Petroleum said that OGDC is working on a gas reserve already and hopes to get hands on shale gas and oil.

It should be mentioned here that shale gas reserves outweigh conventional hydrocarbon resources in Pakistan. Pakistan has at least 20 trillion cubic ft gas and 385 million oil reserves besides the
latest shale discovery.

Earlier in October while addressing a gathering about governments policy towards Liquefied Natural Gas (LNG), Abbasi had shun media reports of not maintaining transparency in gas import from Qatar.
There was no wrongdoing involved in the deal, he added.

He lauded Pakistan Muslim League-Nawaz (PML-N) for construction of LNG terminal at Karachi port.

Source: https://defence.pk/threads/pakistan-economy-nears-trillion-dollar-ppp-gdp-mark.413696

 

[MadDog]

All I know is, Pakistan's economy is falling sharply & it is mainly due to the heavy loans taken by b!tch & corrupt Govt. of Ppp & pnl-n, who had & are only filling their pockets. Pakistan economy will never boom in the presence of ppp & pnl-n it will always suffer badly. All the claims made by ppp & pml-n on their party doing well for the economy is nothing more than pure lies.

Don't watch ARY news and PTI propoaganda, that day a PTI dude at ARY was claiming that CPEC is all loans due in 1-2 years. Reality is 80% of $46 Billion is investment on BOT basis, the rest 20% are soft loans with 20-25 years maturity.
Pakistan's reserves are $23 Billion plus with around 4.7%-5% GDP growth rate, if that isn't decent performance for a country which recently crushed a full fledged insurgency then what is. PTI is doing considerable propaganda over the economy, CPEC, sometimes they create controversies over land routes using provincialism, on other occasions IK opposes military ops against militants and claims that Pak army is killing civilians. One doesn't need to watch Arnab Goswami's entertainment propaganda, if you're a avid listener of some PTI officials !!!

 

[Viper 94]

Pakistan is going through a steady consumption led growth, which is fueled by the youth bulge. This generally means that the economy is based on something solid and is less dependant on other markets. But $270 billion Nominal is not that impressive for a country the size of pakistan.

 

[Mrc]

Recently there has been all hype produced over pakistans external debt... only by adding private loans owed by banks and private companies to public loan owed by govt...

State bank governor denied yesterday that public debt is at 72 billion ... thats the total figure including private debt for which government has no responsibility....

Public debt stands at 58 billion usd....

This is an age of media.... and all resources are used to create hypes in pakistan... where average joe would believe any rumour as long as it favours his political orientation...
Quite few of pakistanis live in fantacy worlds not in reality

 

[AZADPAKISTAN2009]

Pakistani Currency is going Toilet due to Loans more loans you take more your currency goes down

• When you make stuff other countries buy it for Peanuts, its like slavery that is why you are given IMF loan

When you have surplus then you guy buy Foreign items cheap , get international Education , buy that Pizza hut more often

 

[tarrar]

It is really a sad thing to see that some people believe Pak economy is developing. Where as in reality it is not & loans are continuously been taken. The problem is going to come next year when the corrupt Govt. will have to start giving the loan back & there is no money to give so far as Ishaq Dollar & corrupt bastards of pml-n have eaten all the loan. Even after all this people still think otherwise.

 

[Hakikat ve Hikmet]

Based on the Turkish experience I see that Pak undocumented economy is almost equal to the documented one. It's a huge challenge, but bit by bit the undocumented part can be taxed and documented. In Turkey, they could reduce it to 40%..

 

[Martin Peterson]

As the Chinese members (Esp the trolls) will remind you, PPP means nothing .

Also it may take another year or two for Pakistan to surpass trillion dollar PPP since it grew by 46 billion and its at 930 billion (2015). This means Pakistan will also surpass 5000 per capita USD in PPP in a year or two.

The really bad Gross Fixed Capital Formation (stagnant at 13% for 5 years now) and the declining literacy rate (drop 2% points in the last survey by Pakistani Bureau of Statistics) are the two most worrying problems for Pakistan's long term growth perspective along with the bad tax structure and overall poor availability of quality labour.

They are not trolls necessarily, the primary reason the Chinese users like using Nominal is because they like impossible targets and since they look much smaller than they actually are using Nominal then this gives them a tougher challenge.

Of course the real size of an economy is based on its GDP PPP and not ERV, anyway congratulations Pakistan on this milestone but clearly work has to be done on the HDI and general living standards as well.