Govt launches economic survey today

Attention: open in a new window. PDFPrintE-mail

Govt launches economic survey today

ISLAMABAD - The government is going to launch economic survey of outgoing financial year 2012-13 on Tuesday (today) wherein country has missed the major economic targets including economic growth target of the year.

The government would launch the pre-budget document, highlighting the over all performance of economy during the out-going fiscal year. The survey covers the development of all the important sectors of economy including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities.

The survey also highlights the performance of education, health and nutrition, besides showing the overall population, labour force and employment, poverty, transport and communication. It also assesses the issues of environment, contingent liabilities, tax expenditure as well as economic and social indicators.


The current economic survey would speak about the economic policies of the previous Pakistan Peoples Party (PPP) led coalition government in its last year of the constitutional five-year tenure. The PPP led coalition government remained failed to achieve the economic growth target of the country even in a single year in its five-year tenure.


Apart from GDP growth target, the government did not achieve the growth targets of agricultural sector, industrial sector and services sector during the outgoing financial year. Government did not achieve the budgetary economic target of 4.3 per cent during the outgoing fiscal year (from July 2012 to June 2013), as GDP growth would be around at 3.59 per cent. Similarly, agriculture sector grew by 3.35 per cent against the target of 4 per cent. In agricultural sector, fishing record a growth of 0.65 per cent against the target of 2 per cent, forestry 0.13 per cent as compare to the target of 2 per cent, livestock 3.68 per cent against the target of 4.2 per cent.


The industrial sector has also missed the growth target of 3.8 per cent during the outgoing fiscal year as it remained at 3.5 per cent. The components of industrial sector have shown mixed changes, as some sectors have achieved the targets while others have missed. However the industrial sector as a whole has missed the target. In industrial sector, mining and quarrying has recorded growth of 7.58 per cent during the outgoing fiscal year against the target of 3 per cent. Manufacturing registered growth of 3.51 per cent as compare to its target of 4.1 per cent. In manufacturing sector, large-scale manufacturing recorded growth of 2.83 per cent, small and household, 8.23 per cent and others 3.54 per cent.


However, electricity, gas and water supply have miserably failed to achieve the growth target of 2.2 per cent during the year 2012-13 as it recorded negative growth of 3.2 per cent. The construction sector, in industrial sector, has achieved growth of 5.18 per cent as compare to its target of 4.5 per cent.


The services sector also missed the target of 4.6 per cent as it record growth of 3.71 per cent during the outgoing financial year 2012-13. In services sector, wholesale and retail trade registered growth of 2.52 per cent against target of 4.1 per cent. Transport, storage and communication recorded growth of 3.44 per cent, finance and insurance, 6.64 per cent; housing services (ownership of dwellings) 3.99 per cent, general government services, 5.6 per cent and other private services 3.99 per cent during the outgoing fiscal year 2012-13.




Courtesy: Nation


Forex open Market rates & comments Archive

Login Form