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Thursday, June 12, 2008

Where Do We Stand

I received the following stats through email. An eye opener, though it worth for the other to view:

This is not a political statement. It is a management statement.
Pakistanis are a proud people, almost bordering on the arrogance. The cockiness has exacerbated in a last 9 years, when General Musharraf, Shaukat Aziz and the whole economic team were extolling the virtues of the economic turnaround.
Some random numbers that should give one a reality check:
  1. Pakistan's per capita income is US $ 1,000 (higher on a PPP basis). Singapore's per capita is US $ 26,000 i.e. each person in Singapore is 26 times richer than the average Pakistani.
  1. The Karachi Stock Exchange is valued at (approximately) US $ 75 Billion. The market cap of one single company in USA, General Electric, is US $ 325 Billion.
  1. Pakistan's foreign exchange reserves are at US $ 14 Billion. Harvard University has an endowment of US $ 33 Billion. MIT US $ 18 Billion.
  1. At the height of its economic boom in 1987, Ginza, the financial district of Tokyo (all of nine square miles) had a real estate value higher than the whole of Pakistan.
  1. The 2008 value of the 5 Top Brands in the world is as follows:
US $ (Billion)
Coca Cola 65
Microsoft 59
IBM 57
CE 52
Nokia 34
  1. The Indian corporate chieftans deploy 130 private executive jets. Pakistans' richest man makes do with a 10 year old turbo-prop.
  1. Pakistan has GDP of US $ 130 Billion (2007, nominal). By this measure at least 15 corporations (world wide) are larger than Pakistan. The largest company in the world, WALLMART, has an economy THREE times the size of Pakistan.
  1. The largest MNC operating in Pakistan, an Oil Marketing company (OMC) has an annual turnover which is only point seven zero (0.70) of the parent company. The total assets of the Pakistan subsidiary can be written off without reference to the Main Board.
Perhaps we and our leaders - both political and corporate, can learn to be more humble.
Numbers don't lie.