Re: Pakistan economic snapshot 03-07 IMF data
bhai jaan agar itni economics parhi hoti to engineering mai kia parhtay :D ... since we are using computerized fonts then I automatically gain 5 points as there is no chance of 'messing'.
Anyway, 'per capita' in my understanding is per head...
Correct?
Re: Pakistan economic snapshot 03-07 IMF data
Now if $3000 (approx) is taken as per head income of 'family' as per our Silly bhai to be $17850 then it is grossly exaggerated ... meaning annual income of more than 10 lac, I have my doubts. I have seen people income go up, but this number seems too good to be true.
Re: Pakistan economic snapshot 03-07 IMF data
Obviously those figs are a miscalc.
Re: Pakistan economic snapshot 03-07 IMF data
Good point as always Fraudz. Per capita is a country's Gross Domestic Product (GDP) divided by the country's whole population - it is not an average person's wages. IMF is saying that the Purchasing Power Parity per capita of the average Pakistani person (not head of family) has gone up from $1937 dollars in '99 to $2976 dollars today. As the average Pakistani family is made up of 6 members the average per capita of a Pakistani family is $17,856 (per annum).
I said that in less than 100 words as well. :D
Re: Pakistan economic snapshot 03-07 IMF data
Why dont people realize the benefits of a relatively small family?!?! Or is there really some hidden benefit in having such large families?
Re: Pakistan economic snapshot 03-07 IMF data
Goldman Sachs are also saying that.
http://www.dailytimes.com.pk/default.asp?page=2006\12\21\story_21-12-2006_pg5_1
Re: Pakistan economic snapshot 03-07 IMF data
:k:
Re: Pakistan economic snapshot 03-07 IMF data
parrha tu aap nay waisay engineering mein bhi kuch naheen aur dhakay mein pass ho gaye, laikun kon garray murday ukharay 
okay safai kay 5 number.
and you are right, and silly billy is right.
Now avg just shows that the country or population as a whole has increased purchasing power. What is does not tell you is how is it distributed. So you can be skeptical.
On the other hand, at a glance, such a scale of change could not be possible with gains only going to the top 2%.
What would be helpful would be further statistics including standard deviation. or lets just look at a bell curve, that would be more telling.
I would be very interested in diving in the report and seeing more. But in absence of anything else that I have seen here, the avg serves as a good initial indicator of positive moves. yet we can not ignore the limitations of averages
Re: Pakistan economic snapshot 03-07 IMF data
figs are not a miscalc, we have to read them correctly.
if there are 10 ppl each making
100
200
300
400
500
600
700
800
900
1000
avg income is $550. does not mean each person is making $550
now if the guy who is making $1000 starts making $2000, the avg changes to $650, but it does not mean that everyone got a $100 bump, but that the raise is concentrated in one person. rest did nt see any of that.
but that is not the situation either.
so there is varying levels of raise for people across all groups, some more than others. either of the two extremes, that everyone saw a similar improvement, or that the improvement is solely concentrated in the top 1% or whatever is nto realistic either.
Re: Pakistan economic snapshot 03-07 IMF data
It is "emerging market", doesn't mean 'the only market' or 'the best emerging market'. As the earning numbers are improving (we can question the estimates/averages, but there definitely is improvement) makes the country a good market for sellers.
Re: Pakistan economic snapshot 03-07 IMF data
if there are 10 ppl each making 100 200 300 400 500 600 700 800 900 1000
avg income is $550. does not mean each person is making $550
Thats why it is inaccurate to use 'average' to express it, because then right there people will think of 'average people on street' :)
Re: Pakistan economic snapshot 03-07 IMF data
well then people who jump to that conclusion should have paid attention in their math classes. Its very clear what avg means
Re: Pakistan economic snapshot 03-07 IMF data
These averages (GDP, Per capita Income etc) have a biggest limitation i.e. don't show the exact picture.
In pakistan, the average is a little higher now because of the earning of upper class. People are billionaires now and that is the reason of this little boost.
Keep in mind that the ratio of middle-class is going lower & lower which is the dangerious thing for our economy. And it is the opposite of development.
Similarly, the ratio of poor is increasing too. so the averages are higher due to higher income of a small percentage of people.
Plz look at all the sides of the picture. don't just go for these averages. Keep the limitations in mind too.
Re: Pakistan economic snapshot 03-07 IMF data
Cool Breeze nay farmaya
These averages (GDP, Per capita Income etc) have a biggest limitation i.e. don't show the exact picture.
The averages have a purpose, to give an indicator. lets not make them more than that, or lets not completely discount them as being useless. If they were telling you nothing then they would not be used.
*In pakistan, the average is a little higher now because of the earning of upper class. People are billionaires now and that is the reason of this little boost. *
Improbable, you can throw the avg growth on some chart and see that the upper class would have to be collectively in Bill gates category to be able to lift hundreds of millions of people up by that amount. which is not the case.
*Keep in mind that the ratio of middle-class is going lower & lower which is the dangerious thing for our economy. And it is the opposite of development. *
Please support this statement with facts /figures
*Similarly, the ratio of poor is increasing too. so the averages are higher due to higher income of a small percentage of people. *
please provide proof and support of this statement with facts/figures
Plz look at all the sides of the picture. don't just go for these averages. Keep the limitations in mind too.
at the same time do not discount averages as nothing. Avg is a very good indicator of overall direction of economy.
Re: Pakistan economic snapshot 03-07 IMF data
I don't have exacty figures but there are few things that are the indicator.
Local businesses are going down. Our main industries such as Textile is in deep trouble. The big groups such as Nishat Chunian etc etc, have cancelled a lot of projects. If you do your research you will find tons of examples.
Inflation is at the highest peak.
Can you prove that the employment ratio is getting better?
Those people who were able to arrange basic necessities, aren't able to do that anymore. Can you really manage a budget of a family of lets say 5-6 whose earning is Rs.5000. Yes, a few years ago, they were able to eat decent meal. Do you know how much the food costs now?. They really can't even buy meat or anything.
In the days of even a slight progress in the economy, these things either get better or stay the same for a while but never go down.
We still don't know what exactly happened to Karachi Stock market when a huge amount of money was lost. Govt. could never prove its innocence. Yes our PM was the main character in this whole thing.
The list really goes on and on. its the matter of your own observation.
any why the public is getting more & more frustrated there. They aren't that stupid. They can feel the progress too if there is any.....
Re: Pakistan economic snapshot 03-07 IMF data
SBP estimates pak has a middle class of c. 30 million, that's abt 1/5 of the pop. 20% seems abt right for a developing nation.
Re: Pakistan economic snapshot 03-07 IMF data
cool breeze, u did not answer my questions. but came up with more questions as a counter.
lets take it one step at a time, please show me that midle class has decreased and that the ratio of poor has increased.
we can address other items as we move forward :)
Re: Pakistan economic snapshot 03-07 IMF data
An update about inflationary pressure in Pakistan.
In her first interview with a Pakistani newspaper, State Bank Governor Dr Shamshad Akhtar told Dawn that higher-than-expected food inflation and the government’s inability to pass on the benefits of declining international oil prices to domestic consumers would cause inflation to range between 6.8 per cent and 7.5 per cent.
Re: Pakistan economic snapshot 03-07 IMF data
^ normally I'll be quite happy to have infltionary pressure as it is a sure sign of growth activity (in most cases). however 7.5% inflation is deadly and usually an indication of something i wrong. wonder if the oil prices are doing the damage?
funny though. Chavez is offering discounts to Americans who cannot afford oil. What are Iran and Saudi Arabia offering the so called poor 'bretheren'? Seems you don't need the brotherhood when rich