Budget

Dar to launch 2013-14 economic survey today

ISLAMABAD:  Finance Minister Ishaq Dar will launch the Economic Survey of Pakistan 2013-14 today; a document to highlight economic performance of the economy for the fiscal year 2013-14, ARY News reported on Monday.

In a news conference in Islamabad the Finance Minister will release the Survey.

The survey covers the performance of all sectors of the economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities.

According to sources, the survey has assessed the economic growth on Pakistan at 4 per cent lesser than the target of 4.4 per cent, government had set in its first budget last year.

The gross domestic product (GDP) growth rate target was missed, however, it was higher than the 3.7pc growth posted in FY 2012-13, the last year of the PPP’s tenure.

Foreign Minister Ishaq Dar will present federal budget for the fiscal year 2014-15 to the parliament on June 3 (tomorrow).

According to sources, industry is the only sector, which exceeded its target for this year, the two other major sectors — agriculture and services — missed their targets.

The manufacturing sector posted a growth rate of 5.5pc against a target of 4.5pc and an output of 3.7pc in FY2012-13, sources said.

The agriculture sector grew by a mere 2.12pc, below than its target of 3.8pc and lower than the growth rate of 2.9pc last year.

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Dar to launch 2013-14 economic survey today

by Shakoor Nizamani