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Economic Survey 2013-14 launched

June 3, 2014

Finance Minister, Senator Ishaq Dar on Monday launched the Economic Survey of Pakistan for the financial year 2013-14.

He will also present the second budget by the Pakistan Muslim League-Nawaz (PMLN) government in the National Assembly on Tuesday.

The finance bill, which will be tabled in parliament next week, is expected to include Rs535 billion in additional taxes and other administrative measures. Speaking on the occasion, the finance minister said it was the first time in six years that the gross domestic product (GDP) remained at four per cent.

He added that the loss during the July - March period remained at 2.3 per cent. Ishaq Dar said that the target for industrial growth was 5.8 per cent, adding that the government was going to increase GDP growth by one per cent each year. He said treasury bills were listed on the stock exchange for the first time in Pakistan's history, adding that these were now being traded in the open market.

The minister further said that generation of electricity and gas distribution had increased from 16.33 per cent last year to 3.72 per cent this year. The prebudget document highlights the overall performance of economy during the outgoing fiscal year, providing a realistic feedback and basis for planning.

The survey covers development of all the important sectors of economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities.

The survey also highlights the performance of education, health and nutrition besides showing the overall population, labour force and employment, poverty, transport and communication. It also assesses the issues of environment, contingent liabilities, tax expenditure as well as economic and social indicators.

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Source: National Herald Tribune (Pakistan)

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