Tuesday 25 August 2020

Sindh generates 25% and Karachi generates 20% of Pakistan's GDP.


The FBR runs 3 Large Taxpayer Units (LTUs) in Karachi, Lahore, Islamabad and 18 Regional Tax Offices (RTOs) in Karachi-1, Karachi-2, Karachi-3, Karachi-4, Lahore-1, Lahore-2, Rawalpindi, Multan, Peshawar, Faisalabad, Quetta, Hyderabad, Sialkot, Sukkur, Bahawalpur, Gujranwala, Sargodha, and Abbottabad.

Pakistan generates 95% of its total federal tax revenue from its ten major cities that includes Karachi, Lahore, Islamabad, Faisalabad, Rawalpindi, Gujranwala, Peshawar, Multan, Hyderabad, and Quetta.

Pakistan generates 86% of its total federal tax revenue from its three major cities; Karachi, Lahore, Islamabad. Karachi contributes 55%, Islamabad 16%, and Lahore 15 % because; all major businesses have their head offices in one of the three cities Karachi, Lahore, and Islamabad.

A substantial chunk of Sindh’s GDP, around 95% is attributed to Karachi. The GDP of Sindh as a percentage of Pakistan’s total GDP has traditionally hovered around 25%.

Karachi collects 55% of Pakistan's tax revenue, and generates approximately 20% of Pakistan's GDP.

Approximately 30% of Pakistani industrial output is from Karachi, while Karachi's ports handle approximately 95% of Pakistan's foreign trade.

Approximately 90% of the multinational corporations operating in Pakistan are headquartered in Karachi.

Punjab, which is the largest province of Pakistan in terms of population, dominates other provinces in contributing to the national economy of Pakistan.

As of 2017, Punjab had a GDP of $173 billion which has steadily continued to grow. Punjab featured well within the list of country subdivisions with a GDP over $100 billion.

Sindh's GDP with $ 83 billion is to a large extent influenced by the economy of Karachi, capital of Sindh and Pakistan's largest city.

As per 2018, Provincial share in total Tax Collection in Pakistan is Punjab 48%, Sindh 27%, Khyber Pakhtunkhwa 17%, Balochistan 8%.

Pakistan, as of 2019, had a gross domestic product (GDP) of $284.214 billion US$.

As of 2019, Lahore had an estimated GDP (PPP) of $84 billion. As of 2008, the city's gross domestic product (GDP) by purchasing power parity (PPP) was estimated at $40 billion with a projected average growth rate of 5.6 percent.

The contribution of Lahore to the national economy of Pakistan is estimated to be 11.5% and 19% to the provincial economy of Punjab.

As a whole, Punjab has $173 billion economy and it is making Punjab first in economy of Pakistan and to date only Pakistani Subdivision of the economy more than $100 billion at the rank 144.

Lahore's GDP is projected to be $102 billion by the year 2025, with a slightly higher growth rate of 5.6% per annum, as compared to Karachi's 5.5%.

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