Pak per capita income rises to $1,027

Islamabad, May 21:

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 Pak economy went up to $170.8 billion in the fiscal year that ends on June 30 against $143.9 billion last fiscal year to post a growth of $26.9 billion, states a paper forwarded by National Accounts Committee to Annual Plan Coordination Committee.

During the last financial year, the provisional per capita estimate claimed by the then government of premier 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 per cent in the current fiscal.

The News reported today that production of major crops fell by one per cent due to lower than expected output of wheat and cotton. Production of minor crops also fell by 2.97 per cent.

This meant overall farm produce grew a mere 1.49 per cent in 2007-08. Wheat production is estimated at 21.7 million tonnes in the current fiscal against 23.3 million in last 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 1.7 million tonnes that have already been imported at an estimated cost of Rs 60 billion Pak currency.