The government has approved rebasing the National Accounts from 2015-16 to 2025-26. This update aims to improve GDP estimates and better reflect economic activity.
The project cost has increased to Rs 903.4 million from Rs 608 million. This rise is due to 12 additional surveys, including coverage of small and medium enterprises (SMEs).
Pakistan last rebased its National Accounts from 2005-06 to 2015-16. The new rebasing will improve GDP, Gross Fixed Capital Formation (GFCF), and expenditure estimates. It also aims to fill data gaps and expand coverage.
All sectors and sub-sectors will be evaluated for their contribution to the national economy. Constant growth rates and ratios used in GDP calculations will be updated. The National Accounts System 2008 will also be fully implemented.
A key addition is the introduction of a Producer Price Index (PPI) into the country’s statistical system. This will help measure price changes at the producer level and improve economic analysis.
Every ten years, the base year of National Accounts is updated. This ensures new businesses are included, closed businesses are removed, and expansions or contractions are reflected in the estimates.
Originally, the project cost Rs 607.911 million with 46 planned surveys. The revised scope now includes 52 surveys and studies conducted by the Pakistan Bureau of Statistics (PBS).
The rebasing project will also introduce new indices such as the PPI and Natural Capital Account. It will strengthen PBS capacity and support a feasibility study for a Statistical Research and Training Institute.
The revision incorporates the Survey and Census of SMEs following the Prime Minister’s directive. The update will also improve sector-wise evaluation of GFCF and allow better assessment of investments across industries.
The project will cover agriculture, industry, energy, construction, and services sectors. Input-output ratios and deflators will be updated to provide accurate data for micro and macroeconomic decision-making. Read our detailed news on NCCIA Cracks Down on Illegal Karachi Call Centre Involved in International Bank Account Hacking for full coverage of the operation.
Officials said the rebasing of National Accounts will help the government, businesses, and the public make informed decisions. It will also link natural capital with economic growth for a stronger statistical framework.
