GDP growth rate may drop below 1pc: official

Thursday, February 05, 2009
By Khalid Mustafa

ISLAMABAD: Pakistan is feared to experience negative growth this year in all sectors of economy except the agriculture sector, a senior official at Ministry of Finance confided to The News.

Growth in agriculture sector is expected around 4.5 per cent depending on wheat production, if this target was missed the Gross Domestic Product growth rate would be even less than one percent, he said.

Pakistan experienced negative growth in 1952 and if the agriculture sector does not perform up to expectations, then once again the country would be exposed to negative growth of 0.3 per cent.

In the last fiscal year, the agriculture growth was 1.5 per cent and now the country is expecting 4 to 4.5 per cent growth, which is to be the only factor that would take the GDP growth into positive zone.

We are expecting negative growth by the end of the ongoing fiscal in all sectors of economy except agriculture. The massive negative growth is to hit Large Scale Manufacturing (LSM) and Construction, the official said keeping in view the preliminary estimates worked out with regard to the expected GDP growth by the end of ongoing fiscal.

Electricity & and gas distribution, Transport And Communication, Wholesale and Retail Trade, Finance and Banking, Public Administration and Defence and Social and Community Services are also not likely to perform, but the Agriculture sector would be in the positive zone with no major positive impact on overall GDP growth, he said.

The government is alarmed over the performance in the said sectors of economy and is all set to revise the targets of GDP growth, tax revenue, inflation and exports with International Monetary Fund (IMF) which has extended to Pakistan the 23 months $7.6 billion bailout package under Stand By Arrangement (SBA).

For the ongoing fiscal, the official said, IMF had earlier fixed the target of 3.4 percent GDP growth, 21 percent average inflation, 12 percent growth in export and Rs1,360 billion tax revenue.

Pakistan and IMF would revise the targets during the appraisal process by IMF review mission that is to be held in Dubai during February 14 to 24 period.

http://thenews.jang.com.pk/daily_detail.asp?id=160830

SURRENDER OF PAKI ARMY IN 1971
1N 1971 A NEW HISTORY AS WELL AS A NEW NATION WAS CREATED BY WE THE INDIANS..

Where are the phuckistanis like bigboywasim and Mirza who feel phuckistan is a superpower.




colours of Kaziranga

Anyone said Pakistan is a superpower?

Only $30 useless brick designers said their country is a superpower.

lol, as I read last time, pakistan has a higher nominal GDP per capita compared with india.

You need to read more often. According to CIA factbook 2007, Pak's at 2400, India at 2600

If $2600, how can more than 2 million kids of < 5 years old die each year in India.

rat whorshippers,
nominal gdp, not purchasings power parity, is mentioneds by our good chinegooks friends of ugly flat face and midget size with greats kung fu tai chi accupuncture and panda flyings chopsticks tights kvnts mentions
sayonara

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I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians