Annual Plan Coordination Committee (APCC) ne Friday ko proposed annual plan for fiscal year 2024-25 review kiya, aur note kiya ke agle saal ke liye economic outlook positive hai jahan growth target 3.6% set kiya gaya hai.
Growth ke prospects political stability, exchange rate, macroeconomic stabilization under International Monetary Fund (IMF) ke program aur global oil aur commodity prices ke expected fall par mabni hain.
Planning Commission ke document ke mutabiq, agriculture expected hai ke 2024-25 mein 2% grow karegi considering high base effect.
Industrial sector expected hai ke 2023-24 mein recover karega with targeted growth of 4.4% on the back of expected Large Scale Manufacturing (LSM) growth of 3.5%. Industrial sector ko improved inputs aur energy supplies ke wajah se boost milega, especially global oil aur commodity prices ke expected fall ki wajah se.
Services sector bhi 4.1% grow karne ki umeed hai jo commodity producing sectors mein 3.1% growth se complement hoga.
Document ke mutabiq, investment-to-GDP ratio expected hai ke 2023-24 ke 13.1% se barh ke 2024-25 mein 14.2% ho jayegi due to expected economic turnaround, improved business environment aur political stability. National savings ko GDP ke 13.3% pe target kiya gaya hai.
Fiscal deficit narrow hone ki umeed hai due to fiscal consolidation measures aur domestic average inflation moderate hone ki umeed hai 12% tak owing to falling global inflation.
Committee ne annual plan for fiscal year 2023-24 bhi review kiya, aur dekha ke Pakistan ki economy ne 2023-24 ke start mein significant challenges face kiye, mainly due to previous saal ke economic disruptions ke lagged impacts. Magar, economy ne moderately recover kiya 2023-24 mein aur 2.4% growth achieve ki.
2023-24 ke doran, primary driver of growth agriculture sector tha, jo 6.3% growth rate post kiya, owing to wheat, cotton aur rice ke bumper outputs.
Industrial sector ne 1.2% growth achieve kiya mainly due to slowdown in large-scale manufacturing activities. Magar, mining aur quarrying, small-scale manufacturing, aur construction mein growth hui.
Services sector ne bhi 1.2% growth register ki as wholesale aur retail trade ne sirf 0.3% growth experience kiya. Transport, storage aur communications ne bhi low growth of 1.2% record kiya due to subdued demand.
Total revenue collection 41% grow hui during July-March 2023-24 jo ke total expenditure ke 36.6% growth se zyada thi. Tax aur non-tax revenues dono 29.3% aur 89.8%, respectively, grow hui. Markup expenditure ne total expenditure ka 40% constitute kiya.
July-April 2023-24 ke doran, average inflation 26% record hui as compared to pichle saal ke same period ke 28.2%. January 2024 se continuously declining inflationary trend dekha gaya hai.
External sector ne several challenges face kiye 2023-24 ke start mein. Baad mein, current account deficit ke narrow hone, IMF aur doosre foreign donors se inflows aur government/SBP ke measures ne foreign exchange reserves position ko improve kiya jo exchange rate ko stabilize karne mein madadgar sabit hua.
