It is not a race. We congradulate India on her success, we are forging our own path.
IMF places pak PPP/PC at $3004 for 2006/7. India at c. $3600?
In real terms, Pak is marginally higher. $950 plays $850 something like that.
You can also add mass starvations, starvation deaths, mega mega slums the biggest in the world, malnutrition etc. and the list goes on and on. But then you will be busting his bubble... Rather be a bad Paki any time then a paper tiger.
By Kaushik Basu Professor of economics, Cornell University
India’s economic report card
Equally surprising is that 35% of India’s population lives on less than $1 a day, which is comparable to Bangladesh’s 36% and much worse than Pakistan’s 17% and Sri Lanka’s 6%.
Lets leave India alone... There economic profile is obviously different from Pakistan... Lets not let let some bitter no body divert the attention from Pakistan.
I believe KSE market capitalisation was 5.7 billion dollars (actually around 286 billion rupees) when President Musharraf came to power in 1999. It has come a long way with market capitalisation now over 55 billion dollars. KSE 100-share index was around 1200 in 1999, now it is over 12000 in 2007.
Yes, great economic achievments under Musharraf's leadership, that are unparalleled in our history.
Kuwaiti company to invest billions into Pakistan’s energy industry in coming years. This on top of the billions already invested by key Middle Eastern states in recent years.
**A more stable Pakistan draws foreign investment
**
Pakistan’s government expects foreign direct investment to jump to a record $6.5 billion this year as faster economic growth attracts companies including Philip Morris and Standard Chartered. Overseas investments in Pakistan in the year ending June 30 may double from the previous year as the $129 billion South Asian economy expanded an average of 7.5 percent in the past three years, Ashfaque Hasan Khan, the government’s chief economic adviser, said Sunday. Khan said that the government wants to sustain that pace of growth for a decade. “Pakistan needs investments,” Khan told a seminar at the annual general meeting of the Asian Development Bank in Kyoto. “The government will provide a macroeconomic environment that will be conducive to business.” Pakistan is relying on foreign inflows to develop roads and power stations to foster growth and eradicate poverty. The Asian Development Bank estimates that the economy in Pakistan may slow to 6.5 percent in the year starting July 1, from 6.8 percent for the previous year, because of inadequate infrastructure. “Investors all over the world are very interested in Pakistan right now,” said Ping Chew, the managing director for Asia corporate and government ratings at Standard and Poor’s. “There are tons of privatizations, tons of asset sales happening.”
Pakistan’s government, which is selling assets to help repay $36 billion of overseas debt, estimates that it will raise as much as $15 billion in five years by selling shares in state-owned companies. The government has raised more than $6 billion from selling assets over the past 15 years. A quarter of Pakistan’s 160 million people live on less than a dollar a day, the World Bank estimates. The Altria Group’s Philip Morris said in January that it will buy a majority stake in the Pakistan cigarette maker Lakson Tobacco for $338.9 million. Standard Chartered, the British bank that makes two-thirds of its profit in Asia, completed a $487 million purchase of Union Bank in September, in the biggest acquisition in Pakistan’s banking history. This year, Pakistan asked China’s two biggest lenders, Bank of China and the Industrial & Commercial Bank of China, to start operating in the country. Investors are also pouring money into Pakistan as peace talks with its rival, India, have been strengthening over the past four years. The nuclear-armed neighbors began improving ties in 2003 after coming close to a fourth war in 2002, pledging to engage in a “composite dialogue” aimed at ending all disputes, including claims over Kashmir. The two countries have restored diplomatic, sporting and transport ties since 2003. They started a fourth round of comprehensive talks in March. The negotiations encompass talks on a range of issues that divide the nations. Kashmir, at the heart of the dispute, was the cause of two of the three wars between India and Pakistan since they gained independence from British rule in 1947. India accuses Pakistan of backing the region’s separatist groups and their terrorist activities. Pakistan denies the accusation, saying that it only lends moral support to a freedom struggle.