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ISLAMABAD: Bank of Punjab President and Chief Executive Zafar Masud has argued that the country’s GDP growth figures failed to capture how ordinary citizens are coping with current economic issues.
He suggested a roadmap calling for working towards a ‘Welfare GDP’ measure, saying it does not require a smarter pooling of existing indicators, including Gross National Disposable Income (GNDI), per capita growth, the relationship between income and production, and distribution-weighted growth.
Zafar Masud delivered a lecture at Islamabad Policy Research Institute (IPRI) on Thursday, titled ‘Measuring Welfare-GDP Beyond Arithmetic’.
In his articulate discourse, he posed a question: “If Pakistan’s economy is growing at 3.7 per cent, why does that growth not register at the household level?”
