Pakistan fails to meet economic targets in nearly all sectors
According to an Economic survey, Pakistan has failed to meet targets in nearly all sectors. The economic growth of the Imran-Khan led country in the financial year ending in June is expected to hit 3.3 per cent, which is well below the target of 6.3 per cent set by the previous government.
The Economic Survey of 2018-19 is scheduled to be officially released a day before the next year's budget on June 11, but some of its details were published on Saturday.
Livestock is the only sector that grew by 4 per cent against the target of 3.8 per cent, the survey revealed.
A sharp decline was witnessed in the industrial sector that registered a growth of 1.4 per cent against the target of 7.6 per cent despite the fact that power generation witnessed an increase as several power plants and other power sector projects were completed.
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The service sector grew by 4.7 per cent against the target of 6.5 per cent, while the construction sector achieved a growth of 7.6 per cent against a 10 per cent target.
As the agriculture sector grew by only 0.8 per cent against a 3.8 per cent target, the massive decline was mainly attributed to unfavourable weather conditions.
Delays in making key policy decisions by the government, including the one about going to the International Monetary Fund (IMF) for a bailout package and those related to the construction and industrial sectors, created confusions among investors, experts believe.
