Thursday, May 22, 2008, Jamadi-ul-Awwal 15, 1429    

Per capita income rises to USD 1,027

Islamabad—Pakistan’s per capita income has risen to $1,027 in fiscal 2007-08 against $878 in the last financial year. The total size of Pakistan’s economy went up to $170.8 billion in the fiscal that ends June 30 against $143.9 billion in the previous fiscal to register a growth of $26.9 billion, says a paper forwarded by the National Accounts Committee (NAC) to the Annual Plan Coordination Committee (APCC). During the last financial year, the provisional per capita estimate claimed by the then government of prime minister Shaukat Aziz was $925 but was reduced to $878 in accordance with the finalised per capita income related figures.
Inflation is projected at 10.5 percent in the current fiscal. Quoting from the NAC paper, The News said Wednesday that production of major crops fell one percent due to lower than expected output of wheat and cotton. Production of minor crops also fell 2.97 percent. This meant overall farm produce grew a mere 1.49 percent in 2007-08. Wheat production is estimated at 21.7 million tonnes in the current fiscal against 23.3 million in the previous financial year.
Keeping this in mind the government of Prime Minister Yousaf Raza Gillani has decided to import 2.5 million tonnes of wheat in addition to the 1.7 million tonnes that have already been imported at an estimated cost of Pakistani Rs.60 billion. —Agencies