In Karachi and other populous areas in southern Pakistan it is fairly stable even if the economy is sluggish.
Economic growth is fairly strong for the type of situation Pakistan is in.
Historically, Pakistan's GDP has grown every year since a 1951 recession. Despite this record of sustained growth, Pakistan's economy had, until a few years ago, been characterized as unstable and highly vulnerable to external and internal shocks. However, the economy proved to be unexpectedly resilient in the face of multiple adverse events concentrated into a four-year period —
- the 1998 Asian financial crisis;
- economic sanctions — according to Colin Powell, Pakistan was "sanctioned to the eyeballs";
- global recession;
- a severe drought — the worst in Pakistan's history, lasting four years;
- heightened perceptions of risk as a result of military tensions with South Asia — with as many as a million troops on the border, and predictions of impending (potentially nuclear) war; and
- the post-9/11 military action in neighboring Afghanistan, with a massive influx of refugees from that country.
Despite these adverse events, Pakistan's economy kept growing, and economic growth accelerated towards the end of this period. This resilience has led to a change in perceptions of the economy, with leading international institutions such as the IMF, World Bank, and the ADB praising Pakistan's performance in the face of adversity.
From the 2004-2005 Economic SurveyGrowth rate: 8.4% this is the figure being talked about everywhere - making Pakistan the second fastest growing economy in the world, just behind China.
Inflation: 9.3%, compared to 3.9% last year.
Net Govt. Revenue: Rs 451.1 billion during the first nine months of the fiscal year, expected revenue Rs 590 billion against a total expenditure estimated at Rs.1050.4 billion in 2004-05.
Defence expenditure: Rs 194 billion, 7.5 per cent higher than last years. this figure is wrong, as it does not include pensions, and a few other items such as military pensions of over Rs35 billion.
Per capita income: $736, almost 12 per cent higher than last years $657.
GDP: $123 billion.
Literacy rate: 52%. This is a doubtful figure, and was questioned during the press conference - no one believed it. Pakistan’s official definition of literacy is not in line with international norms, hence 52% is extremely optimistic
Unemployment rate: 7.7%
Per capita water availability: 1,005 cubic metres this is very low
Agriculture: 7.5% growth, but 38% of Pakistan's irrigated land is waterlogged and 14% is saline. Agriculture accounts for nearly 23 per cent of Pakistan's GDP and employs 42 per cent of its workforce.
Handouts give to nationalized loss making companies: Rs 94.57 billion, or 16% of all taxes! this is a staggering figure. The major beneficiaries blood sucking leeches on the back of the Pakistani taxpayer are FFC Jordon, TCP, PIA, Pakistan Steel, Railways, Wapda, KESC, Saindak, Utility Stores and others
Debt: $36.62 billion external and approx $73 billion internal. More than 30% of Pakistan’s budget goes to debt servicing.
Exports: * $10.2 billion* in the first 9 months of the current fiscal year.
Imports: $14.5 billion in the first 9 months of the current fiscal year.
Roads: 259,758 Km in March 2005
Health Budget: Rs 38.0 billion.
Electricity Generation Capacity: 19,389 MW both thermal and hydel
