Home / Economy / PML-N government’s GDP expansion figures revised downward from five.79% to five.22%

PML-N government’s GDP expansion figures revised downward from five.79% to five.22%

Photograph: AFP

Claims of very top GDP expansion by means of the former PML-N executive had been confirmed flawed after the once a year GDP expansion figures of the 2017-18 fiscal 12 months had been revised downward from five.79% to five.22% throughout the Nationwide Accounts Committee assembly in Islamabad on Friday.

The 100th assembly of the Nationwide Accounts Committee to study the general and revised GDP estimates of for the years 2016-17 and 2017-18 was once chaired by means of the statistics department secretary.

The provisional GDP estimates for 2017-18 and revised GDP estimates for 2016-17 offered throughout the 99th assembly had been up to date in keeping with the most recent to be had information.

The particular assembly was once known as to satisfy the necessities of the Ministry of Making plans, Building and Reform for revised GDP information for 2017-18 to supply them a baseline to paintings at the 12th 5 12 months Plan (2018-23).

The general GDP expansion charge for 2016-17 has been estimated at five.37%, which was once five.38% within the revised estimates, in line with the Pakistan Bureau of Statistics.

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The agriculture sector has advanced from 2.07% to two.18% while the trade sector declined from five.43% to five.2%. The general expansion charge of the services and products sector stands at 6.52% with a slight growth from the unique determine of 6.46%.

The revised GDP expansion charge for 2017-18 is five.22%, which was once provisionally estimated at five.79%.

The revised expansion within the agriculture sector for 2017-18 has been estimated at three.7%, which was once provisionally estimated at three.eight%. The vegetation subsector has advanced from three.83% to four.24%, while cattle has somewhat lowered from three.76% to three.62%.

Within the commercial sector, the revised charge is five.01%, in comparison to the provisional estimate of five.eight%. Mining and quarrying has advanced from provisional expansion of three.04% to three.89% while LSM, which is in keeping with the QIM, has declined from 6.13% to five.01%. Electrical energy has declined from 1.84% to at least one.15%.

The revised expansion in building sector stands at 7.07% which was once nine.13% within the provisional estimates.

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The expansion of the services and products sector has declined from a provisional estimate of 6.43% to five.78%. Wholesale and retail industry has declined from 7.51% to six.four% and delivery, garage and communique declined to at least one.96% from a provisional expansion of three.58%. Finance and insurance coverage has registered a decline from 6.13% to five.four%.

Basic executive services and products have declined from 11.42% to nine.58%, while different non-public services and products greater from 6.15% to eight.09%.

5 years in the past, when the PML-N executive got here into energy in 2013, the GDP expansion charge was once recorded at three.68% for 2012-13. In 2017-18, on the finish of its tenure, the birthday celebration claimed that the five.79% GDP expansion charge was once the very best within the ultimate 10 years or so. Alternatively, Imran Khan’s PTI all the time expressed reservations in regards to the financial figures compiled by means of the PML-N executive.

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