10:10 am - Thursday April 24, 2014

Budget 2012-13 No target achieved: Pakistan Economic Survey 2011-12

ISLAMABAD: Pakistan Economic Survey 2011-12 revealed that none of the economic targets set by the government were achieved, Geo News reported.

 

Finance Minister Dr Abdul Hafeez Shaikh would officially release the Survey on May 31. A copy of the Survey would be presented to Prime Minister Yousuf Raza Gilani on Thursday before its release.

 

Geo News is in possession of a copy of Economic Survey, which said all the growth targets of agriculture, industry and services sectors have been missed.

 

The economic growth remained at 3.7% despite a set target of 4.2%. The overall deficit stood at Rs8.94 trillion which was Rs7.71 trillion in FY 2011-12. Rs47 billion were spent on external debt financing this year as compared to Rs33 billion during July-March last year.

 

The trade deficit of the country surged exponentially, the Survey said. It said imports have escalated to $37 billion against the total exports of $19 billion.

 

The budget for FY 2012-13 would be presented on 1st June before the National Assembly.

Filed in: Education Pakistan

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