Re: Risks to economy growing.. State Bank.
Saleem, bhai. You have given these long posts before, and you have accused other of being either idiots or completely ill informed before... And I think your over estimate yourself and Mush supporters and underestimate the everyone else... And by everyone else, I mean just about any economist of worth.
Fact is that the people who deny your claims to unprescendted growth actually DO know how to read figures...
All you provided is fact, but the question is not that Paks economy grew, but the nature of that growth. The type of growth has been such that its only benefited a select few, while leaving the poor where they were or even poorer... The rise in income was seen only among the rich, and it was limited to certain areas...
The problem with you people is you keep beating a dead horse... You dont like to talk about the fact that MANY qualified analysts are prodicting that the economy is not performing well and this growth is unsustainable. Now the State Bank is even saying this, which analysts have been saying since late 2006...
And even a cursory glance at Pak history attests to the fact this growth has always come when the Military is in power and when America is doing the funding... As soon as they leave, Pak returns to its low growth.
You can accuse us of not knowing how read figure, but what about everyone else who is qualified and has come to the same conclusion... That growth has increased the gap between rich and poor, and that in the long run, unless some serious steps are taken, the economy will not grow.
Meray bhai, in reply to your post I would just ask you two question and would like to see if you would answer that fairly or not :)
**Question one: **State bank in above report says:
[quote]
The 2007-2008 growth was also likely to be below the 7.2 percent annual target, it said.
[/quote]
Now tell me that does state bank report says that how low the growth would be? Do you think that target is always achieved? State Bank gave their estimate and one cannot say until all readings are evaluated and that would happen by Oct/Nov 2008 (even provincial figure would come by July 2008) ... right? Still, suppose Stata Bank is accurate in their assessment and growth comes below 7.2 percent ... let say 7 percent, than would that going to be low growth rate? Can you tell me of any year when 'BB and NS' government had 7 percent or above growth rate?
I think that if Pakistan growth rate would be 6 percent during 2007-2008 than also it would be good growth rate (though I still believe that Pakistan may achieve over 7 percent gorwth rate for year 2007-2008).
Another question: In 1999 it was very difficult to even get land line phone for many. Today there are over 70 million Pakistanis that have mobile phones. Pakistan has 160 million people, most are kids. There are around 80 million voters (shows that reat are too young to vote). Most mobile phone holders must be adults ... those that can vote. That shows that over 85 percent Pakistani adults have mobile phone.
Now, do you think that those who have mobile phone are poor? Well, if they are than a country where poor have enough spare cash to get mobile phone than certainly prosperity has reached poor too. Don't you think so? :)
[Note: I am not going on many other indicators that shows properity in Pakistan did reached poor too ...as I beleive that for those that would not like to believe, nothing can convince them]