Lack of availability of GDP data at provincial level creating anomalies: PC deputy chief

LAHORE: Deputy Chairman Planning Commission Dr Mohammad Jehanzeb Khan has said that Punjab is a large player in Pakistan’s economy and lack of availability of GDP data at provincial level is creating anomalies.

National Finance Commission, National Economic Council and Council of Common Interests are very important forums to promote fiscal federalism and reach greater allocative efficiency which is very important for growth and development of the country.

He emphasised that measuring GDP was also important to address questions of equity and fair taxation and assured that Planning Commission, Government of Pakistan would provide its full support for calculation of Punjab’s GDP.

He was speaking in a consultative session on Measuring Provincial GDP of Punjab, organised by the Planning and Development Board with the support of the FCDO funded Sub-National Governance Programme, here on Thursday.

Chief Secretary Punjab, Zahid Akhtar Zaman graced the occasion as Chief Guest. The session was attended by key Government officials from the Federal and Provincial Governments, Chief Statistician, Pakistan Bureau of Statistics and Chairman, Planning & Development Board, Government of Punjab. Prominent experts and researchers from notable academic institutions and representatives from international development partners including World Bank, Asian Development and UNDP also attended the session.

Chairman P&D Board Iftikhar Ali Sahoo stated that the main objective of the session was to take the first step towards estimation of Provincial GDP. He emphasised that accurate and precise estimation of provincial GDP was essential for effective economic planning at the federal and provincial levels given Punjab’s size in terms of population. He underscored that calculation of provincial GDP was crucial to ensure efficient allocation of resources across regions and sectors.

Chief Secretary, Punjab Zahid Akhtar Zaman appreciated Planning & Development Board, for taking the initiative to organise the session and said he hoped it would pave the way for more efficient resource allocation. Joint Chief Economist, P&D Board, Dr M Aman Ullah, moderated the session.

The Consultative Conference provided all participants with a unique opportunity to exchange knowledge and insights on provincial GDP estimation. It will generate momentum for sustained future collaboration among all key stakeholders to devise a framework to achieve accurate and precise estimation of Provincial GDP.

Copyright Business Recorder, 2023