Economic indicators

The performance of the government has been lacklustre as it has been unsuccessful in achieving its major financial and economic targets for the fiscal year ending June 30, 2016. Gross Domestic Product (GDP), the broadest quantitative measure of a nation’s total economic activity, has expanded 4.7 percent against a target of 5.7 percent. Annual exports continued to decline for the third consecutive year, having registered $21 billion compared to a target of $25.5 billion. Likewise, inflation could not be contained, and the energy crisis continues to haunt the nation. Tax recovery was short by Rs40 billion. Also, the programme for privatising state enterprises could not be implemented effectively. Cumulative external debt reached the highest ever mark. The most sorrowful state is of the agriculture sector that recorded regression for the first time in the last fifteen years, as the target of 3.9 percent growth could not be attained.

On the other hand, Prime Minister Nawaz Sharif has lauded Finance Minister Ishaq Dar for achieving milestones in the country’s economic growth and prosperity. Is this just tactical ignorance?

Hussain Siddiqui

Islamabad