The report of the economic goals has been submitted to the National Accounts Committee by the federal government (Photo: File).
Islamabad: During the current fiscal year 2022-23, none of the economic targets, including GDP growth, could be achieved, the growth rate was 0.8% against the fixed target of 5%.
According to the details, the report of the economic targets has been submitted by the federal government to the National Accounts Committee, in which it is stated that none of the economic targets could be met in the current financial year, the growth rate was 0.8% instead of 5%, while floods and The rising dollar exchange rate has hurt the GDP.
According to the sources, the report stated that the target of growth rate of agriculture sector was set at 3.9%, but due to flood alone, agriculture lost 297 billion rupees. Due to the flood, the cotton crop suffered a loss of 205 billion, dates 7 billion and rice crop 50 billion due to which the set target could not be achieved.
The target growth rate of the industrial sector was 7.1%, but the growth of this sector fell to negative 8.11%, the volume of the vehicle industry shrank to 42%, foreign direct investment decreased by 98%, exports decreased by 11%, while the fiscal deficit increased by 5.2 percent.
According to sources, the growth of the textile industry, which is the backbone of the economy, has decreased by 16 percent, while the government has only succeeded in controlling the current account deficit.
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