With a per capita GDP of $1,680 in FY2024 and forecasts for FY2025 indicating further rise to $2,405, Pakistan has made notable strides in its economic recovery and perseverance in the face of adversity.
With a per capita GDP of $2,996, Islamabad outperformed a number of regional standards, including the $2,106 national average for India.
Punjab also demonstrated improvement, as evidenced by its per capita income of $1,713.60, which was 2% more than the national average and added to the country’s improving economic situation.
With a $1,748 per capita income, Sindh has also been a good performer. In the meantime, Khyber Pakhtunkhwa (KPK) and Balochistan reported per capita incomes of $1,388.41 and $1,106, respectively, indicating consistent economic growth in these regions.
Gilgit-Baltistan and Azad Jammu and Kashmir also recorded noteworthy per capita incomes of $1,550 and $1,730, reflecting the government’s focus on balanced regional development.
India’s geographical differences, on the other hand, showed notable inequality. While southern states reported a per capita income of $3,421, northern regions, particularly those under the influence of Hindutva politics, reported much lower figures, with only $813.
India also grapples with severe poverty, with 234 million people living below the poverty line, according to the UNDP and Oxford Poverty and Human Development Initiative. According to the International Labour Organization, youth unemployment in India has also increased to concerning proportions, rising from 35.2% to 65.7%.
Despite facing external pressures, Pakistan’s economy has shown resilience, enduring a $150 billion loss over two decades due to foreign-sponsored terrorism, compounded by the burden of hosting 4 to 5 million Afghan refugees. However, Pakistan’s dedication to stability and long-term development is still evident.
Pakistan’s focus on sustainable and inclusive growth presents a clear roadmap for transforming current challenges into future opportunities, paving the way for long-term prosperity.
