Pakistan’s per capita income rose from $ 926 to $ 1085 in 2008

 

ISLAMABAD: Pakistan’s per capita income in dollar terms rose from US $ 926 in financial year 2006-07 to US $ 1085 in the outgoing financial year 2007-08 showing an increase of 18.4 percent, official sources said. “Per capita income, defined as Gross National Products (GNP) at current market price in dollar terms divided by the country’s population, has grown at an average rate of above 13 percent per annum during the last five years rising from US $ 586 in 2002-03 to $ 926 and further to US $ 1085 in 2007-8” they added.

 

They said that per capita income is treated as one of the foremost indicators of the depth of growth and general well-being of any country.

 

They added that despite the array of recent and more sophisticated tools to measure growth, development and economic advancement, none match the historical importance and simplicity of per capita income as a measure of the average level of prosperity of any country.

 

The sources further said that real per capita income in Rupee terms has also increased by 4.7 percent on average for the last five years adding real per capita income grew by 4.2 percent as compared to 4.8 percent of last fiscal year.

 

When contacted Chief Coordinators Federal Bureau of Statistics (FBS) of Statistics Division, Shahid Butt told APP Pakistan is following the system of National Accounts being practiced internationally.

 

“We are following Blue Bible of the System of National Accounts while measuring the per capita income and based on GDP/population and no one can change the figures reported under the account”, he remarked.

 

 

Courtesy: APP

June 21, 2008