Government fails to achieve economic targets: Economic survey
Exports of Pakistan were 3.2% lesser than last year, remained only 20 billion, 200 million dollars
ISLAMABAD (Dunya News) – The Economic Survey Report will be presented by the federal minister of finance Ishaq Dar on Thursday while Dunya News got the copy of the survey on Wednesday, according to which government has failed to achieve the economic targets during the fiscal year 2014-15. Federal Board of Revenue (FBR) also failed to achieve the tax recovery targets.
According to the survey, the target of economic growth rate was 5.1 which could be achieved only 4.24% while the target of agricultural development was also not achieved. The rate of progress had been 2.8% instead of 3.3%. The rate of industrial progress could also reach up to 3.62% only instead of 6.8%, which was the decided target for the current fiscal year. The target of tax recoveries for FBR was 2810 billion rupees which was rewised three times.
According to the survey, the exports of Pakistan were 3.2% lesser than the last year and remained only 20 billion, 200 million dollars. The production of sugarcane lessened by 7.13%, wheat by 2% while corn by 5%. Government puts all the blame on flood, bad weather, sit-ins and power production. Government stats that due to the decrease of oil price in international market and the decrease of electricity rates inside the country, the inflation rate decreased in the country.
Government was also successful to decrease the current account deficit which was decreased from 2.9 billion dollars to 1.4 billion dollars. The report also mentions 1 billion dollars of IMF grant which stabilized the foreign exchange in the country.
