Pakistan GDP cross $250 billion dollar mark

[My-Analogous]

As per data shown in State Bank of Pakistan web site Pakistan GDP is cross $250 mark and current Pakistan GDP is $252.416 Billion and may reach to $260 Billion + when this financial year end

State Bank of Pakistan - Statistics and Data Warehouse Publications

@WebMaster @Aeronaut @Abu Nasar @Akheilos @Hazzy997 @al-Hasani @Yzd Khalifa @Mosamania @MastanKhan @Jungibaaz @Kaan @GreenFalcon @Zarvan @PWFI @chauvunist @Areesh @BDforever @Fahad Khan 2 @JanjaWeed @Devil Soul @Fulcrum15 @ranjeet @Koovie @Jazzbot @Raja.Pakistani @NKVD @nair @levina @Jungibaaz @W.11 @American Pakistani @HRK @Leader @iranigirl2 @Jaanbaz @Ceylal @MOHSENAM @Zizou @500 @Luftwaffe @Armstrong @Sidak @scorpionx @Indischer @Roybot @krash @American Pakistani @Soumitra @Nihonjin1051 @cnleio @Jf Thunder @Imran Khan @Horus @Norwegian @OrionHunter @cb4 @Arsalan @Donatello @Oscar @Hyperion @Bratva @DESERT FIGHTER @Dazzler @ChineseTiger1986 @Tempest II @A.Rafay@Ahmad1996@airmarshal@Akheilos@Armstrong@arushbhai@AstanoshKhan@AZADPAKISTAN2009@balixd@batmannow@Bilal.@chauvunist@Crypto@Dr. Stranglove@Evil Flare@EyanKhan@GIANTsasquatch@graphican@Green Arrow@Guleen Ahmed@HRK@Jazzbot@Junaid B@Jzaib@Khalidr@khawaja07@Leader@Luftwaffe@Marshmallow@mr42O@Muhammad Omar@nomi007@Pak123@Pakistani shaheens@Pakistanisage@Peaceful Civilian@pkuser2k12@Pukhtoon@PWFI@raazh@Rafael@Rashid Mahmood@RescueRanger@Saifkhan12@Sedqal@SHAMK9@Spy Master@Stealth@Strike X @SUPARCO@sur@syedali73@Tameem@TankMan@Tayyab1796@Zarvan@waleed3601@AdeelFaheem@Rajput_Pakistani@Men in Green@orakzai4u@IceCold@LoveIcon@razahassan1997@Cheetah786@Dil Pakistan@Donatello@asq@junaid hamza@SBD-3@cb4@AsianUnion@Aether@xyxmt@Proudpakistaniguy@WishLivePak@Waffen SS@FaujHistorian@Fracker@Ranches@ghoul@Jf Thunder@GreenFalcon@genmirajborgza786@orangzaib@Pakistani Exile@KURUMAYA@Irfan Baloch@ali_raza@Syed.Ali.Haider@dexter@Patriots@muslim_pakistani@W.11@Meengla@zaid butt@ajpirzada@Shoaib Rathore@OrionHunter@CHARGER@Major Sam@yesboss@TheFlyingPretzel@TheNoob@Bratva@ghazaliy2k@Viny@StormShadow@suresh1773@SOHEIL@venu309@danish_vij@Force-India@faisal6309@SpArK@S.U.R.B.@vsdave2302@jarves@WAJsal@pursuit of happiness@Winchester@janon@pak-marine@AgNoStiC MuSliM@420canada@sathya@HughSlaman

 

[Hyde]

It is partially due to the fact that PKR are not devaluing since past year. In fact it came down to 100 from high of 110. So when you convert the PKR, more USD is being translated.

Some of the major financial institutes refused to accept the price of 97-100 rupees for dollar as true representation of Pakistani rupee as they claimed the rupee was being artificially shown too strong than its actual value. But the good news is, we did manage to keep Rupee near 100 since past few months and it means more dollars when you use the exchange rate

 

[Faiez]

Hahahaha lol....

nice trick by the government....All they had to do was get more loans from IMF to reduce dollar price, now our not THAT impressive GDP in ruppees is alot more in USD.

It is partially due to the fact that PKR are not devaluing since past year. In fact it came down to 100 from high of 110. So when you convert the PKR, more USD is being translated.

Some of the major financial institutes refused to accept the price of 97-100 rupees for dollar as they claimed the rupee was being shown too strong than its actual value. But the good news is, we did manage to keep Rupee near 100 since past few months and it means more dollars when you use the exchange rate

using IMF loan...

the currency is not freely traded, so all we have is just ~25 trillion ruppees GDP. you cannot convert this to a dollar figure properly.

Gov. "rigging" the numbers (do you see a trend here ) to show higher growth figures than reality. Actual growth is probably much less than what we'll hear from the government.

 

[Echo_419]

As per data shown in State Bank of Pakistan web site Pakistan GDP is cross $250 mark and current Pakistan GDP is $252.416 Billion and may reach to $260 Billion + when this financial year end

State Bank of Pakistan - Statistics and Data Warehouse Publications

@WebMaster @Aeronaut @Abu Nasar @Akheilos @Hazzy997 @al-Hasani @Yzd Khalifa @Mosamania @MastanKhan @Jungibaaz @Kaan @GreenFalcon @Zarvan @PWFI @chauvunist @Areesh @BDforever @Fahad Khan 2 @JanjaWeed @Devil Soul @Fulcrum15 @ranjeet @Koovie @Jazzbot @Raja.Pakistani @NKVD @nair @levina @Jungibaaz @W.11 @American Pakistani @HRK @Leader @iranigirl2 @Jaanbaz @Ceylal @MOHSENAM @Zizou @500 @Luftwaffe @Armstrong @Sidak @scorpionx @Indischer @Roybot @krash @American Pakistani @Soumitra @Nihonjin1051 @cnleio @Jf Thunder @Imran Khan @Horus @Norwegian @OrionHunter @cb4 @Arsalan @Donatello @Oscar @Hyperion @Bratva @DESERT FIGHTER @Dazzler @ChineseTiger1986 @Tempest II @A.Rafay@Ahmad1996@airmarshal@Akheilos@Armstrong@arushbhai@AstanoshKhan@AZADPAKISTAN2009@balixd@batmannow@Bilal.@chauvunist@Crypto@Dr. Stranglove@Evil Flare@EyanKhan@GIANTsasquatch@graphican@Green Arrow@Guleen Ahmed@HRK@Jazzbot@Junaid B@Jzaib@Khalidr@khawaja07@Leader@Luftwaffe@Marshmallow@mr42O@Muhammad Omar@nomi007@Pak123@Pakistani shaheens@Pakistanisage@Peaceful Civilian@pkuser2k12@Pukhtoon@PWFI@raazh@Rafael@Rashid Mahmood@RescueRanger@Saifkhan12@Sedqal@SHAMK9@Spy Master@Stealth@Strike X @SUPARCO@sur@syedali73@Tameem@TankMan@Tayyab1796@Zarvan@waleed3601@AdeelFaheem@Rajput_Pakistani@Men in Green@orakzai4u@IceCold@LoveIcon@razahassan1997@Cheetah786@Dil Pakistan@Donatello@asq@junaid hamza@SBD-3@cb4@AsianUnion@Aether@xyxmt@Proudpakistaniguy@WishLivePak@Waffen SS@FaujHistorian@Fracker@Ranches@ghoul@Jf Thunder@GreenFalcon@genmirajborgza786@orangzaib@Pakistani Exile@KURUMAYA@Irfan Baloch@ali_raza@Syed.Ali.Haider@dexter@Patriots@muslim_pakistani@W.11@Meengla@zaid butt@ajpirzada@Shoaib Rathore@OrionHunter@CHARGER@Major Sam@yesboss@TheFlyingPretzel@TheNoob@Bratva@ghazaliy2k@Viny@StormShadow@suresh1773@SOHEIL@venu309@danish_vij@Force-India@faisal6309@SpArK@S.U.R.B.@vsdave2302@jarves@WAJsal@pursuit of happiness@Winchester@janon@pak-marine@AgNoStiC MuSliM@420canada@sathya@HughSlaman

Congrats to our Pakistsni friends

 

[Hyde]

using IMF loan...

Sir could you please justify the fact that when PPP signed the deal with IMF back in 2008, the rupee shot up from 60 to 85 in few months. When the present government signed a deal to pay off old loan by taking more loan the rupee came down from 111 to 97?

What is the logic in this?

the currency is not freely traded, so all we have is just ~25 trillion ruppees GDP. you cannot convert this to a dollar figure properly.

Sir how many countries in the world allows its currency to hover freely? The last time I remember even Japan intervened multiple times to devalue it's japanese yen in order to increase exports (in that case Japan wanted to devalue Yen as it suits them)

Gov. "rigging" the numbers (do you see a trend here ) to show higher growth figures than reality. Actual growth is probably much less than what we'll hear from the government.

Sir the figures were widely accepted by neutral bodies who account every single data of Pakistan economy such as the World Bank and IMF. How far the government could rig if the figures were not accurate.

PPP could not do the rigging in growth figures and could not convince the same bodies happily accepting the latest figures of Pakistan economy

 

[farhan_9909]

Wait for the change in base year next year(2015),I am expecting the GDP to Jump to 360-380Billion dollars next year.

 

[Faiez]

Sir could you please justify the fact that when PPP signed the deal with IMF back in 2008, the rupee shot up from 60 to 85 in few months. When the present government signed a deal to pay off old loan by taking more loan the rupee came down from 111 to 97?

What is the logic in this?

Sir how many countries in the world allows its currency to hover freely? The last time I remember even Japan intervened multiple times to devalue it's japanese yen in order to increase exports (in that case Japan wanted to devalue Yen as it suits them)


Sir the figures were widely accepted by neutral bodies who account every single data of Pakistan economy such as the World Bank and IMF. How far the government could rig if the figures were not accurate.

PPP could not do the rigging in growth figures and could not convince the same bodies happily accepting the latest figures of Pakistan economy

The currency is not freely traded, the exchange rate is merely a number indirectly set by the government, it signifies nothing.

All civilized countries let the currency trade freely. Examples are of USA, EU, Canada etc etc etc. Japan intervened, didn't completely take it under its complete control and that was under major crisis. At the same time, other civilized countries did not intervene. Also, they devalued to improve exports, we have over-valued to make our GDP/growth look better. So......

Most countries do get away with rigging figures. Even 1st world civilized countries used to get away maybe about 2-3 decades ago, it's all political. And no, IMF and world bank is not neutral.

That just shows that PML-N is really good with rigging stuff.

Wait for the change in base year next year(2015),I am expecting the GDP to Jump to 360-380Billion dollars next year.

How?

 

[Hyde]

The currency is not freely traded, the exchange rate is merely a number indirectly set by the government, it signifies nothing.

All civilized countries let the currency trade freely. Examples are of USA, EU, Canada etc etc etc. Japan intervened, didn't completely take it under its complete control and that was under major crisis. At the same time, other civilized countries did not intervene. Also, they devalued to improve exports, we have over-valued to make our GDP/growth look better. So......

Most countries do get away with rigging figures. Even 1st world civilized countries used to get away maybe about 2-3 decades ago, it's all political. And no, IMF and world bank is not neutral.

That just shows that PML-N is really good with rigging stuff.

Sir I don't know any country which does not intervene at times. But so far the government did not directly intervene into Forex exchange unlike other countries such as Japan, Korea and China. All it tried to do is control black market and encouraged people to reinvest in rupee rather than stocking USD and created a perception that people will make big losses if they did not sell their USD's so the inflow of USD was higher than average. On top of that there must be real reason for rupee to lose it's value... due to dropping oil prices, our oil expense is reduced, we received money from IMF, we privatised assets so more money coming in foreign reserves, we eliminated the PKR weak currency fear from people's mind and even the gap between import and exports are slightly reduced. So there were really not many reasons for PKR to fall further for this year.

I used to say that PKR is a currency which historically loses 10% of it's value each year and that is evident since 1950s... but in year 2014 there was a gap and besides your rants about the government, I see it is not backed by concrete evidence since the government got some sigh of relief through various reasons and I have mentioned few of them in the first paragraph

How?

He is right, GDP is not the money in your pocket or the government's pocket if you know?

Take an example of Nigeria, this is what he means

BBC News - Nigeria becomes Africa's biggest economy

 

[My-Analogous]

It is partially due to the fact that PKR are not devaluing since past year. In fact it came down to 100 from high of 110. So when you convert the PKR, more USD is being translated.

Some of the major financial institutes refused to accept the price of 97-100 rupees for dollar as true representation of Pakistani rupee as they claimed the rupee was being artificially shown too strong than its actual value. But the good news is, we did manage to keep Rupee near 100 since past few months and it means more dollars when you use the exchange rate

We have a strong $2912 million increase in our gdp, even in current situation. Give some credit to Pakistan. Currency value not just a simple calculation and it have many factor involved to calculate valuation.

Exchange rate - Wikipedia, the free encyclopedia

 

[Hyde]

We have a strong $2912 million increase in our gdp, even in current situation. Give some credit to Pakistan. Currency value not just a simple calculation and it have many factor involved to calculate valuation.

Exchange rate - Wikipedia, the free encyclopedia

Sir I am a Forex trader since 2008 and from 2009-2013 this was my only source of income, so you could trust I know the meaning of Exchange rate

 

[Donatello]

Sir I am a Forex trader since 2008 and from 2009-2013 this was my only source of income, so you could trust I know the meaning of Exchange rate

Yea but the exchange rate quoted here is rarely the actual traded rate.....for example Banks will charge a higher conversion rate on your credit card transactions abroad...and if you went to a forex dealer they'll give higher rates for USD/GBP etc.

I remember i had to buy some GBP in a hurry as i was travelling.....the actual rate was 169....but the dealer refused to offer that...instead i bought at 174 Rs to 1 GBP.

 

[farhan_9909]

How?

Change in Base year.in 2013 it was approved but not taken into consideration.

As per a most latest source's,it will be done in the FY 2015-16 as per dar sahab

With change in base year,Nigeria is now the biggest GDP of africa,Bangladesh economy also was increased by a huge %age when they changed the base year

BBC News - Nigeria becomes Africa's biggest economy

Nigeria GDP got a increase of 60% with base year,But i am expecting only max 35% and minimum 25% increse for Pakistani GDP

 

[Hyde]

Yea but the exchange rate quoted here is rarely the actual traded rate.....for example Banks will charge a higher conversion rate on your credit card transactions abroad...and if you went to a forex dealer they'll give higher rates for USD/GBP etc.

I remember i had to buy some GBP in a hurry as i was travelling.....the actual rate was 169....but the dealer refused to offer that...instead i bought at 174 Rs to 1 GBP.

actually Pakistan is the only country in the world (or I know the only country) who offers actual rate very similar to exchange rate of the international market. That is to attract more foreign investors and encourage overseas Pakistanis to send as much money to Pakistan as possible.

I know it was not like that before and like any country in the world, there was significant difference between bank rate and private transaction but now the difference has been narrowed marginally that you get the rate very similar to exchange rate

 

[474474]

Yea but the exchange rate quoted here is rarely the actual traded rate.....for example Banks will charge a higher conversion rate on your credit card transactions abroad...and if you went to a forex dealer they'll give higher rates for USD/GBP etc.

I remember i had to buy some GBP in a hurry as i was travelling.....the actual rate was 169....but the dealer refused to offer that...instead i bought at 174 Rs to 1 GBP.

If he was in the business I'm pretty sure these guys keep track of all sorts of rates, official/black market

 

[My-Analogous]

Pakistan must findout the hidden economy and once we have batter management system and proper documentation i think currently we have 350 to 400 Billion dollar economy. We have to keep record of small businesses including Phairey wala and other self employees