ISLAMABAD - The PML-N government would present the economic performance report of the first year of its five years constitutional tenure, as Finance Minister Senator Ishaq Dar would launch the Economic Survey 2013-14 on Monday (today) that would reflect the performance of main economic indicators.

Finance Minister Senator Ishaq Dar and Minister for Planning Development and Reforms Ahsan Iqbal would likely to jointly present the Economic Survey report of the outgoing fiscal year. The Economic Survey reflects the economic performance of the country of the outgoing financial year. The PML-N government would present the report of their first year performance.

The incumbent government has missed the major economic targets set for the outgoing financial year 2013-14. According to the details which are incorporated in Economic Survey 2013-14 showed that government has missed the annual GDP growth target. However, GDP growth rate remained higher than the rate of previous five years.

Pakistan’s GDP growth has been estimated to remain at 4.14 percent during outgoing fiscal year 2013-14 as against the government’s target of 4.4 percent. Similarly, the government has also failed to achieve the target of agriculture sector. The agriculture sector growth has been projected to record at 2.21 percent as compare to the target of 3.8 percent.  In agricultural sector, fishing record a growth of 0.98 percent against the target of 2 per cent, forestry 0.13 percent as compare to the target of 2 per cent, livestock 2.88 per cent against the target of 3.9 percent during the outgoing fiscal year.

Similarly, the services sector would record growth of 4.29 percent during outgoing financial year against the government’s estimates of 4.6 percent. In services sector, wholesale and retail trade would record growth of 5.18 percent against the target of 4 percent, Transport, storage and communication would miss the target of 3.5 percent, as it would record growth of 2.98 percent and finance and insurance to grow by 5.17 percent as compared to the target of six percent during outgoing fiscal year.

However, the government would achieve the target of manufacturing sector, which would register growth of 5.5 percent during the current fiscal year against the target of 4.5 percent. In manufacturing sector, mining and quarrying would grow by 4.43 percent against the target of 6.2 percent, large scale manufacturing sector would record growth of 5.55 percent as compare to target of 4.5 percent, small scale manufacturing sector would grow by 5.31 percent against target of 8.2 percent and slaughtering 3.51 percent as compared to 3.6 percent during outgoing financial year 2013-14. The electricity and gas generations and distributions have recorded growth of 3.72 percent and construction sector would record massive growth of 11.31 percent during outgoing financial year.

The government would also miss the inflation rate target, as inflation rate is expected to remain at more than 8.5 percent during outgoing fiscal year against the target of eight percent. Similarly, the government would also miss the target of trade deficit.