Pakistan slides 3 spots on prosperity index

Published: November 10, 2015
SHARES
Email
As opposed to Pakistan, India went up three ranks to 99th on the overall index. PHOTO: AFP

As opposed to Pakistan, India went up three ranks to 99th on the overall index. PHOTO: AFP

KARACHI: Pakistan has been ranked 130th of the 142 countries on the 2015 Global Prosperity Index, falling three places from last year.

The Legatum Institute, a London-based think tank, launches the index every year, benchmarking countries across eight categories: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

Pakistan slips in WEF competitiveness rankings

Pakistan’s performance has improved in four out of the eight sub-indices. Apart from a notable improvement in the economy sub-index, Pakistan fared comparatively well in governance, safety and security and personal freedom in 2015.

The best performance came in the economy sub-index, where Pakistan has been ranked 101st in 2015. The country ranked 107th, 107th and 115th in this category in 2014, 2013 and 2012, respectively.

By avoiding a balance of payment crisis in 2013-14 after signing a three-year IMF loan programme of $6.64 billion, Pakistan strengthened its international reserves position and indirectly helped raise more funds from other global lenders and investors.

Meeting with Dar: Exim Bank lauds economic recovery

Declining oil prices in the international market also lowered the country’s import bill, thus giving the federal government more fiscal space. Record-low inflation also played an important role in improving public sentiment about the state of the economy. Low interest rates also helped boost consumer financing and the sale of cars and durable items.

No wonder 61.8 per cent Pakistanis expressed confidence in financial institutions as opposed to the global average of 59.9 per cent, according to the report. Similarly 57.6 per cent Pakistanis reported satisfaction with their living standards as opposed to the global average of 59.7. Around 34 per cent Pakistanis believe it was a good time to find a job in contrast with the worldwide average of 36.9.

The country’s lowest rank has come about in the safety and security sub-index, where it has been ranked 138th among the 142 states. However, it has actually improved one notch from last year when it was ranked 139th.

Pakistan agrees to slap billions in new taxes

As opposed to Pakistan, India went up three ranks to 99th on the overall index. Pakistan fared worse than India in all eight sub-indices. Bangladesh (103), Sri Lanka (61), Iran (106) have all ranked higher than Pakistan in 2015. Afghanistan, however, is the second worst-performing country (141st) in the latest edition.

Norway, Switzerland and Denmark are at the top of the prosperity index while Syria (down 23 places), Tunisia (down 28 places) and Venezuela (down 16 places) are among the worst places to live.

Published in The Express Tribune, November 10th, 2015.

Facebook Conversations

Reader Comments (24)

  • Skywalker
    Nov 10, 2015 - 8:39AM

    I am annoyed at this news, as a nation Pakistan is sliding down. We wasted all the resources in starting and fighting 4 wars with India and participated in another war for western powers in Afghanistan.
    We wasted at-least 2 generations in doing this. What did we get at the end? Just to be a nuclear power with 138th on the prosperity Index and brag that we are better than Afghanistan? Even Bangladesh is better than us, they are carrying forward secular ideas, despite issues and progressing. And we are waiting for the so called treasure – Kashmir. Will grabbing Srinagar bring us the prosperity? How about we start fixing what we have.Recommend

  • SK
    Nov 10, 2015 - 8:40AM

    There shouldn’t be any surprise for anyone in this news- we live in a country where govt. focuses on building metros and highways and that too in just one province, there’s no focus on real improvement in people lives, there’s no focus on education, health etc. we are bound to keep slippingRecommend

  • Prada
    Nov 10, 2015 - 8:44AM

    Pakistan is poorer than India? And that too by such a large margin?? But the way Pakistanis react at various forums, you would think that it is many times more prosperous than India !! Recommend

  • Anon
    Nov 10, 2015 - 8:52AM

    Conspiracy by India to defame our beloved nation….Recommend

  • Alien1
    Nov 10, 2015 - 9:07AM

    pakistanis will blame modi for this as well. Recommend

  • rajesh
    Nov 10, 2015 - 9:10AM

    Wow…. I didnt know this considering the way Pakistanis keep reminding India about our poverty and toilets. India is better than Pakistan in all eight subindices and thirty one spots above. Cool…Recommend

  • Zaida
    Nov 10, 2015 - 10:24AM

    The Western analysts are very perceptive. It is not without reason that they coined the term AfPak. Recommend

  • Dr.Yes
    Nov 10, 2015 - 10:45AM

    @Prada:
    I agree. The way Pakistanis comment about India’s poverty, I just presumed that Pakistan much be richer. I guess, truth in Pakistan is a rare commodity. Recommend

  • Proxy fall
    Nov 10, 2015 - 10:48AM

    It slid three spots in the proxy war index too. Usually one offset the other.Recommend

  • Fahim
    Nov 10, 2015 - 11:34AM

    Such indexes are based on GDP and revenue generation. 70% of grey trade if comes to account then we may jump 50 indexes up. I worked in a multinational company and KPMG international have written some unrealistic jokes about Pakistan regarding salaries and food cost. We were laughing that how stupid they are. Ground situation is very better in a corrupt societyRecommend

  • Indian
    Nov 10, 2015 - 11:35AM

    Conspiracy perpetrated by Modi to deflect recent woes in his government.Recommend

  • darvesh
    Nov 10, 2015 - 12:01PM

    A quiet an apolitical person (in his 60s) visited Mumbai and some other parts of India (2013). Upon his return I asked him a direct question-Which country is better developed and better prosperous Pakistan or India. He went into deep thoughts before he could rationalise his observation For several minutes he went on to explain why India is poor and far less developed than Pakistan.Body line of his answer was fertile and vast land of Punjab.Recommend

  • Kickass
    Nov 10, 2015 - 12:11PM

    @Skywalker:
    Keep walking and don’t come back.Recommend

  • Adnoon Siddiqui
    Nov 10, 2015 - 1:54PM

    Shukriya Mian sahab. We will become Asian TigerRecommend

  • dagan
    Nov 10, 2015 - 2:44PM

    The way Pakistanis talk about Pakistan is as though they are living in Switzerland. Turns out they are living in Swaziland or worse.Recommend

  • Vectra
    Nov 10, 2015 - 2:51PM

    Meanwhile, India awards $5.6bn mega rail contracts to US’s General Electric ($2.6 Billion) and France’s Alstom ($3 Billion).
    The projects involve manufacturing of 1000 diesel locomotives from US and 800 electric locomotives from france over the next 11 years.

    Yesterday in Dubai Air Show, India’s Jet Airways signed $8.6 Billion jet deal with US’s Boeing for supply of 75 next generation 737 Max8 Planes.

    Last month or so also India’s Indigo Airlines signed $27 Billion jet deal with Airbus for supply of 250 Airbus Neo Planes.Recommend

  • Tahir
    Nov 10, 2015 - 4:34PM

    When I was young China was not on the radar. You did not see anything made by China. Now it seems they are manufacturing center the world. It seems like some unbeliveable miracle what China has acheived. Why are we so blind. Why are we not able to change the downward spiral of our country. Recommend

  • ares
    Nov 10, 2015 - 5:16PM

    @Vectra, to add in Dubai Air show Pakistan was happy that people came and looked at their jet, which made into news.

    @skywalker, if everyone in Pakistan had the same mindset you wouldnt be 130, you would be in top 10. But they would prefer to be in bottom 10 than accept Indian trade and wage war to make 1000 cuts and ofcourse glorify HS & JuD.Recommend

  • Pakistani
    Nov 10, 2015 - 6:36PM

    We have actually improved considering what we have to deal with.I doubt any other nation could deal with all of Pakistans problems as well as pakistan has.Recommend

  • ishrat salim
    Nov 10, 2015 - 7:24PM

    We cannot fix taxation, energy, PakSteel is closed due to no gas supply, PIA is going to close, SSGC & SNGC is on the verge of bankruptcy, we just signed $ 16 billion LNG deal with Qatar, when their is a glut & many gas producing countries have actually taken advantage of this glut & importing LNG, Gadani power project after PM groundbreaking ceremony last year with so much hype has been quietly put on the back burner, health & education sector are still in shambles, poverty level is going persistently down, FDIs & exports have declined record low, what else am I missing ?Recommend

  • Ajay
    Nov 10, 2015 - 7:41PM

    India is on solid foundations. The excitement and hope of a brighter future is visible among the middle class Indians. All this due to the vision and foresight of our founding fathers who had strong belief in secularism and democracy. Thankfully, India never let its armed forces dominate over the political class. India has built strong institutions and systems and its ancient cultural values make it a thriving pluralistic society.
    Nehru wanted all Countries of the region to progress togethar under mutual cooperation under the doctrine called ‘Panchsheel’. However, Pakistan’s leaders never trusted India and adopted a hawkish attitude. Pakistan thought Indians are weak dhoti clad Baniya class whereas they are progenies of warriors like Ghazni and Ghori. They invested heavily on being a Military Power and dreamt of a Muslim Ummah who would give them importance as a principal Islamic Military power. It’s policy of fanning religious fanaticism and military one upmanship has left it in dire straits. It is a real challenge to recover and come back to the mainstream now.Recommend

  • curious2
    Nov 10, 2015 - 7:49PM

    It’s the price one pays when they choose to spend money on submarines, J17’s, tactical nukes, etc rather than infrastructure that helps the people and the economy. Economic clout beats nukes hands down – when in doubt ask USA, China, Japan or even N Korea.Recommend

  • raw is war
    Nov 10, 2015 - 8:09PM

    From what I see, the economic gap between India and Pakistan is widening. Its just time before India’s GDP will be double of Pakistan’s.Recommend

  • Hari Om
    Nov 10, 2015 - 8:20PM

    {Wink} The Legatum Institute has undoubtedly been infiltrated by Hindu’s, Jew’s and Christian’s of India, Israel and US via RAW, Mossad and CIA with the express purpose of maligning Pakistan and Islam. Legatum better pray it has not crossed a red line vis a vis strategically located sole Islamic Nuclear power Pakistan and gets a tactical nuclear weapon lobbed at it for daring to suggest that Pakistan is not equal to India {LoL}.Recommend

More in Pakistan