PPI framework to be developed by end-June 2026: PBS
This was revealed by sources in the Pakistan Bureau of Statistics (PBS) to Business Recorder.
The IMF in its 11th September 2024 document titled Staff Report for the 2024 Article IV Consultation and request for an Extended Arrangement noted that it would provide a technical assistance to PBS given that 'important shortcomings remain in the source data available for sectors accounting for around a third of GDP, while there are issues with the granularity and reliability of the Government Finance Statistics.
Q3FY25: Pakistan economy posts 2.4% growth
The authorities are prioritizing addressing these weaknesses, supported by Fund TA on the GFS and a new PPI index and the PBS will soon begin fieldwork for four major surveys ahead of the upcoming NA rebasing to FY26.'
According to a source in PBS, through PPI the entire price chain starting from farm gate/factory gate to retail outlets will become part of the country's statistical system. PPI will determine the cost of production at the factory gate/farm gate and the price paid by the end consumer. At present PBS monitors wholesale and retail price of products but through this index actual production cost at factory gate/farm gate will be noted.
'Through this index the production price received by farmers, prices at factory gate of locally produced goods and cost of imported goods at the port will be monitored,' the source said adding that through this Index it would be easy for the government to identify the role of middlemen and hoarders the source further stated adding that 'if there are discrepancies or unusual increase or decrease in the cost of production and the end consumer price the Government can easily detect the role of middleman by monitoring the trade and transport margin.'
The PBS has already started work on change of base year of National Accounts from 2015-16 to 2025-26 – the selection of the base year made by the governing council of PBS that the national accounts be rebased after every 10 years. The PBS source further noted that the new base will be implemented by 2027-28. Theoretically a base year should be relatively calm and stable year.
The PBS is the National Statistical Organization (NSO) and follows 2008 System of compiling National Accounts which are well documented and vetted by the World Bank, the source added.
The PBS intends to will launch fieldwork for four major surveys (including the integrated agricultural census, labor force survey, and household integrated economic survey) in July 2024, from which preliminary results are expected to become available during FY25.
Copyright Business Recorder, 2025
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