Khyber Pakhtunkhwa’s economy has grown at the fastest rate among all four provinces of Pakistan, says Dr Hafiz Pasha. Pasha stated this finding in his newly published book ‘Growth and Inequality in Pakistan’.
According to Dr Pasha, former Finance Minister and husband of Punjab’s current Finance Minister, Dr Ayesha Ghaus Pasha, Punjab has stood at second place behind KPK in terms of economic growth.
Overall, Punjab contributed the most to Pakistan’s GDP, sharing 54% of it, Sindh stood at second place with 30% contribution in economy while KPK and Balochistan were 3rd and 4th with 13% and 3% contribution to the national GDP respectively.
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Growth Rates of Provinces
The above classification was based on economical sizes. In terms of economic growth provinces have grown as follows:
1. Khyber Pakhtunkhwa
The province hit with terrorism and instability managed to grow fastest in terms of economy. KPK saw a growth of 5.1% in financial year 2016-17 as compared to 4.9% growth it had in year 2008. Most of the growth was contributed by remittances that people of the province received, the author says.
The transport for trades through the province also contributed to the economic growth of the province. KPK remained close to a 5% growth rate during the past 15 years which is the highest among all four provinces.
2. Punjab
Punjab stood second behind KPK with a 4.6% economic growth rate during the last fiscal year. Punjab’s economy grew at an average rate of 2.9% from 2008 to 2013. After 2013, it managed an average of 4.6% growth in economy.
According to the book, Punjab’s economic progress was mainly due to the region’s strong agricultural growth. However, the book also states that structural problems are becoming a hurdle in the way Punjab’s agricultural sector.
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3. Sindh
Once the fastest economically growing province of Pakistan between 2000 and 2007, Sindh took a step back after People’s Party took over in 2008.
Sindh’s economic growth in the past four years averaged a growth of 4.2%, lower than the national average 4.5%. Main reason behind this reduced growth was poor law and order situation in the biggest industrial city of Pakistan, Karachi.
According to the author, Sindh only managed a growth of 2% after 2008. Before 2008, the province enjoyed a high 6% growth. The province also suffers a loss of around Rs 400 billion annually, Dr Pasha says.
4. Balochistan
The most mineral rich province of Pakistan saw the least growth in economy. The province was continuously neglected by the government as it only averaged a growth rate of 3.6% in the last four fiscal years.
The unstable security situation was the main reason behind lack of investment in the province. However, the province did manage to become the fastest growing agricultural region of Pakistan. Balochistan enjoyed a great market of fruits and vegetables during the past four years, the author writes.
Via Tribune
The analysis are ok but infact kpk employment sector is based mostly in Karachi Punjab Saudi Arabia and Gulf countries. Employment rate indigenously at provincial level stands at the bottom.Whereras Private sector growth also mainly depends on investment in other provinces. Mass exodus from the province due to numerous reasons mainly lack of employment lack of facilities lack of law and order discouraged investment in the province. The growth indicator inflated due to remittances from inputs outside the province.
sick man
ha ha joke of the Months
IT`S NOT AN OFFICIAL STATEMENT WHY YOU HIGHLIGHT IT SO MUCH???
Propti blog– don’t you know?
its a person`s opinion! dummy!
its finance minister analysis…insha Allah all pakistan will grow in every field. invest in your country and use pakistani products.
Aitzaz you have skipped an important point mentioned:
“…findings suggest that the highest growth rate in K-P was more because of the structure of its economy than the economic policies of the provincial government”.
Lol, the economy of kpk is growing faster???? Joke of the millennium. I only gave example that you can check all roads of Karachi specially Nazimabad, paposh, Fb area, sadder or many more, the same are occupied by pakhtoons who are selling used items and increasing rapidly.
Useless article.
Another big FART by PoTIAN living in FB world.
Can you please tell how many locals of KPK moved back to their homes from all over Pakistan due to better economics of KPK. Let me tell you its ZERO. All the locals of KPK are moving to others parts to earn their livings as KPK is failed miserably to provide good economic conditions.
Only a ProPakistan FART can consider “REMITTANCES” as growing economy.