Economic survey to be launched today

Economic survey to be launched today

June 10, 2019

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) is all set to launch the Economic Survey of 2018-19 today to share the economic performance and key economic indicators in different sectors of the economy.

The government’s economic team told Hum News, the Gross Domestic Product locked at 3.3 per cent which was half of the target of 6.2 per cent set by the government earlier.

The PTI government did not meet the targets set earlier for the manufacturing, agriculture, industrial and services sector.

The industrial sector did not fulfil its target, as it grew by only 1.4 per cent, whereas the target was 4.9 per cent. The services sector grew by 4.7 per cent while the target set in this sector was 6.5 per cent. The manufacturing sector slid by 0.3%.

The agricultural sector only grew by 0.8 per cent against the target of 3.8 per cent. Cotton, forestry and fisheries could not complete their target either.

Miscellaneous food crops gained only 1.9 per cent of growth compared to the target of 3.50 per cent. The cotton output decreased by 12.7% against an 8.9% growth target. The growth of forestry was 2 per cent less than the target. The production of fishing was only 0.8 per cent against the target of 1.8 per cent.

However, livestock grew by 0.2 per cent more than the target, resulting in a growth of four per cent.

The construction sector also showed a negative trend, dropping to 7.6 per cent against a ten per cent target.

Meanwhile, the government experienced a great amount of increase in the supply of gas and electricity. PTI achieved 40.5 per cent in the power sector against the target of 7.5 per cent.

The wholesale and retail sector only achieved 3.1 per cent of 7.8 per cent. The household sector, however, successfully achieved its target of 8.2 per cent.