Pakistan saw its millionaire population rise by 12,000 between 2008 and 2011 despite a frail economy.

Recent figures from the State Bank of Pakistan show that the number of bank account holders having at least INR10 million ($109,000) rose rapidly over the past three years. In December 2008, the number of account holders with the said minimum was around 24,423, totalling some INR1.32 trillion and accounting for around 34.8 per cent of total bank desposits. In 2011, this was expanded by about INR800 billion, constituting 37.2 per cent of total deposits. 

The rapid growth of large account holders is inexplicable, industry observers say, but local media believe that illegal money has something to do with the massive rise. This is especially questionable since the country's tax-to-gross domestic product ratio remains below 10 per cent. 

Pakistan is listed as one of the countries with the highest corruption rates with many unresolved tax evasion cases and bank defaults in the past years. In 2011, Transparency International said the country is the 42nd most corrupt nation out of the 183 assessed by the group.