Govt shifts national accounts base year to 2025–26 after decade-long gap

The federal government has approved rebasing the national accounts from 2015–16 to 2025–26, ending a 10-year gap in updating the base year used to calculate gross domestic product and related indicators, The News reported. 

Rebasing is carried out roughly every 10 years to add new businesses, remove those that have closed and reflect structural changes in the economy. Pakistan previously moved from a 2005–06 base year to 2015–16, and will now adopt 2025–26.

The revision aims to improve GDP, gross fixed capital formation and expenditure estimates by expanding coverage, updating methodologies and filling data gaps. The Pakistan Bureau of Statistics will carry out the exercise.

As part of the expanded scope, the project cost has been revised to Rs903.4 million from Rs607.9 million following the inclusion of 12 additional surveys, taking the total number of surveys and studies to 52 from the originally planned 46. The additional work includes a dedicated survey or census of small and medium enterprises, incorporated on the prime minister’s directive.

Under the revised project, PBS will update sectoral contributions across agriculture, industry, energy, construction and services, and revalidate ratios and constant growth rates used in GDP estimation. The plan also includes enhanced implementation of the System of National Accounts 2008.

A key component of the exercise is the introduction of a Producer Price Index into the statistical system, alongside work on price statistics and a proposed Natural Capital Account. The project also предусматриes updating deflators and input-output ratios and improving estimates of investment through sector-wise assessment of GFCF.

The rebasing exercise will involve nationwide surveys and studies and is intended to strengthen PBS capacity, stimulate research in national accounts and price statistics, and support evidence-based policymaking by government, businesses and the public.