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Disparity between rich and poor declines June 29, 2021 ISLAMABAD: The Ministry of Finance on Monday stated that the disparity between the rich and the poor has declined in Pakistan on the basis of the latest official survey. The ministry claimed that the provisional growth figures of 3.94 per cent released by the Pakistan Bureau of Statistics (PBS) in May 2021 may exceed in the back of strong expansion in industrial activity. The monthly economic update and outlook released by the ministry stated that the Planning Commission assessed that poverty has declined in Pakistan. The Gini coefficient is used to measure the incidence of income inequality. It is observed that the value of Gini coefficient also decreased from 0.326 in FY2016 to 0.303 in FY2019, which shows that the disparity between the rich and the poor has declined. In rural areas, the Gini coefficient has declined from 0.266 in FY2016 to 0.248 in FY2019, whereas in urban areas, inequality also decreased ....
ISLAMABAD: The rising price hike has made it difficult for the majority of Pakistanis to afford Dal and Roti for an average household size of their families in the wake of decreased real wages. ....
ISLAMABAD: Former minister for finance Dr Hafeez A Pasha has raised different objections over the calculation of GDP growth figures and said that the last fiscal year growth was finalised at. ....
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National December 15, 2020 ISLAMABAD: Former finance minister Dr Hafeez A Pasha has said Pakistan has no option but to go back to the International Monetary Fund (IMF) programme. He was speaking at a plenary of 4-day 23rd Sustainable Development Conference (SDC) panel titled “Economic Growth, Social Protection, and the IMF Programme amid COVID-19”. He said Pakistan did not have a big number of COVID-19 cases compared with other developed and developing nations, but still it had seen significant reduction in the GDP growth. Our independent estimate is that growth fell by -2.5% during fiscal year 2019-20 and will only remain 1% during the ongoing fiscal year. This is the largest decline since early 2000s. Almost 70% of the displaced workers are from the informal sector, which will bring implications for welfare, he added. ....