Pakistan misses all key economic targets: Survey

Pakistan misses all key economic targets: Survey

Pakistan's economic growth in the financial year ending inJune is expected to hit 3.3 per cent, well below the target of 6.3 per cent setby the previous government, as the government has failed to meet targets innearly all sectors, according to the Economic Survey.

The Economic Survey of 2018-19 is scheduled to be officiallyreleased a day before the next year's budget on June 11, but some of itsdetails were published by Dawn news on Saturday.

It indicates that livestock is the only sector that grew by4 per cent against the target of 3.8 per cent.

A sharp decline was witnessed in the industrial sector thatregistered a growth of 1.4 per cent against the target of 7.6 per cent despitethe fact that power generation witnessed an increase as several power plantsand other power sector projects were completed.

The service sector grew by 4.7 per cent against the targetof 6.5 per cent, while the construction sector achieved the growth of 7.6 percent against a 10 per cent target.

As the agriculture sector grew by only 0.8 per cent againsta 3.8 per cent target, the massive decline was mainly attributed tounfavourable weather conditions.

Delays in making key policy decisions by the government,including the one about going to the International Monetary Fund (IMF) for abailout package and those related to the construction and industrial sectors,created confusions among investors, experts believe.

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