• The services sector has declined provisionally at 0.59 percent mainly due to 3.42 percent decline in Wholesale and Retail Trade sector and 7.13 percent decline in Transport, Storage and Communication sectors. 2019-20, Economic Survey World Bank • Other crops showed growth of 4.57 percent mainly due to increase in production of pulses, oilseeds and vegetables. IT&ITeS export remittances have surged to US$ 550.503 million at a growth rate of 24.71 percent during July-December 2019, in comparison to US$441.435 million during the same period last year. of the Economy, Growth • BISP budgetary allocation has also been increased from Rs 102 billion in FY2016 to Rs 180 billion in FY2020 to support unconditional cash transfer to the poorest segments of the society. Protection, Climate At present Pakistan is the 23rd largest in the world in terms of purchasing power parity (PPP), and 40th largest in terms of nominal gross domestic product. • The consumption of petroleum products in Pakistan is 19.68 million tons per annum against the supply of 11.59 million tons per annum from local refineries, while rest of the 8.09 Million tons per annum is being imported. Operations, Stat. • Pakistani rupee depreciated by 3.9 percent during July-March FY2020 which increased the cost structure of industries in general and for those relying on imported raw materials in particular. Click here for details, 28-04-2021 In May 2020, Moody’s has placed Pakistan’s issuer B3 rating under review for downgrade … • For budgetary support, government has borrowed Rs 1,023.91 billion during 01 Jul-24 Apr, FY2020 against the borrowing of Rs 990.87 billion last year. The Pakistan Economic Survey 2019-20 consists of major economic indicators such as Growth and Investment, Agriculture, Manufacturing and Mining , Fiscal Development, Money and Credit , Capital Markets & Corporate Sector, Inflation, Trade and Payments , Pu, Abbott Laboratories (Pakistan) Limited(ABOT). meeting with Managing Director (Operations), Comt, Evaluation During FY2020, PSDP allocations of Rs 24 billion were made for 62 health sector projects and Rs 11.5 million were released up to 10-04-2020. 2019 Summary of Economic Survey 2018-19 Volume 1 (Hindi) Delegation & Nutrition, Population, All segments of society such as students, youth, and farmers have been actively involved in this mega afforestation activity. for Finance & Revenue attended a virtual meeting • The volume of import cargo during July-December 2019 stood at 21.878 million ton, as against the 20.125 million ton handled during corresponding period last year, showing an increase of 8.7 percent. Notification - Reorganization of Economic Reforms Unit (ERU) of Finance Division The economic costs of malnutrition are very high and persistent in terms of loss of GDP which is 3 percent ($7.6 billion) every year in Pakistan. The next tranche of the IMF programme to support Pakistan’s external account will be disbursed in March 2021. Minister for Finance, Revenue, Industries and Minister has approved the re-constitution of • Presently, population composition of the country is skewed towards working age population. Thalinomics: Economics of Plate of Food in India. • During July-March, FY2020 an amount of Rs 22.738 billion (around 80 percent of the total allocation) has been authorised to HEC for meeting expenditure against ongoing projects activities. • Micro enterprises, independent consultants and freelancers have contributed an estimated $500 million in IT&ITeS exports, whereas annual domestic revenue exceeds $1billion. In the wake of COVID-19, the government approved a relief package of Rs 144 billion to provide immediate cash relief of Rs 12,000 to 12 million poor families under Ehsaas. Pakistan Economic Survey. Cumulatively, Group achieved a turnover of Rs 9,621 million as compared to Rs 7,859 million for the corresponding period last year. Minister ISLAMABAD: Pakistan’s economy will shrink the most in decades while its fiscal deficit will likely widen to 9.4pc of gross domestic product by the end of the FY20, according to the Pakistan Economic Survey 2019-20. The duration of index-based market halts has been increased from 45 minutes to 60 minutes; securities brokers have been allowed to activate and operate the Disaster Recovery terminals for trading purposes during normal operations of PSX. According to Economic Survey 2019/20 that is a blueprint of the outgoing fiscal’s performance revealed that share of agriculture sector in GDP … Supplement Archieve, NFC Economic Indicators for Pakistan including actual values, historical data charts, an economic calendar, time-series statistics, business news, long term forecasts and short-term predictions for Pakistan economy. Click here for details, 09-04-2021 Supplement 2018-19, Stat. Chapter 1: Wealth Creation: The invisible hand supported by the hand of trust 1. • Pakistan’s total liquid foreign exchange reserves increased to US$ 17.1 billion by end March 2020, up by US$ 2.6 billion over end-June 2019. Chairperson Pakistan’s IT&ITeS exports have crossed $4.1 billion during FY2019 with export remittances nearing $1 billion. for Finance & Revenue chaired the meeting on Click here for details, 22-04-2021 and Payments, Public SA to PM on Poverty Alleviation and Social Safety / Chairperson BISP called on the Minister for Finance and Revenue The Survey documents that ideas of … During July to March FY2020, PBM has disbursed an amount of Rs 2.705 billion through its core projects/Schemes. Click here for details, 20-04-2021 Gross Domestic Product (GDP): The survey estimates nominal GDP growth of 15.4% and real GDP growth of 11% in 2021-22. Pakistan's Fiscal Operations July-March 2020-21 Appendix, Auditor Studies (PRSP-II), PRSP-II Consultative It said the CPEC portfolio comprised three hydropower projects … Finance, Revenue, Industries and Production • Pakistan produces around 4 Billion Cubic Feet Per Day (Bcfd) of indigenous natural gas. • During FY2020 (July-February), gross earnings of Pakistan Railways grew by 8.4 percent and amounted to Rs 36,916.85 million against Rs 34,066.12 million during the same period last year. Furthermore increase in commodity prices in international market also pushed up the domestic prices. Markets & Corporate Sector, Trade Market Watch: ... Manila, the author specialises in corporate sustainability and sustainable development with experience working with the Pakistan Business Council. Applicability of Biometric Verification of Pensioners already receiving Pension in a Foreign Country 2018-19, Economic Survey * Total revenues increased by 30.9%. Economic Survey 2019-20 . Particularly, the imbalances on fiscal side reverted to the path of fiscal discipline and fiscal consolidation. OM - Budget and Expenditure of Civil Works British High Commissioner to Pakistan called on the Minister for Finance and Revenue Click here for details, 09-04-2021 and Investment, Manufacturing In 2020-21, GDP declined by 23.9% in the first quarter and by 7.5% in the second quarter. Reports (Archive), Background During FY2020 (July-March), there was an uptick in agriculture credit disbursement, the banks have disbursed Rs 912.2 billion higher by 13.3 percent than the disbursement of Rs 804.9 billion made during the same period last year. Click here for details, 19-04-2021 • The Large-Scale Manufacturing (LSM) declined by 5.4 percent during July-March FY2020 as compared to 2.34 percent decline during the same period last year. Supplement 2017-18, Stat. - Economic Advisory Council (EAC) • Exports during July-April, 2019-20 remained $ 19.7 billion compared to $ 20.1 billion during July-March, 2018-19, posting a decline of 2.4 percent. Click here for details, 28-04-2021 Chairman • The fertiliser import decreased by 20.7 percent. for Finance, Revenue, Industries and Production • The provisional growth in industrial sector has been estimated at -2.64 percent mainly due to a negative growth of 8.82 percent in mining and quarrying sector and decline of 7.78 percent in large-scale manufacturing sector. Minister for Finance and Revenue held a virtual Click here for details, 26-04-2021 Prime • The total supply of LPG during July - March 2019-20 was 739,785 Metric Ton. The economy of Pakistan is the 22nd largest in the world in terms of purchasing power parity (PPP), and 45th largest in terms of nominal gross domestic product. • It reduced the policy rate by cumulative 525 bps to 8 percent in four consecutive decisions between March 17 th and May 15th . Click here for details, 25-04-2021 • Finance and insurance sector witnessed a slight increase of 0.79 percent. Highlights of Economic Survey 2019-20. • On contrary, Government has borrowed Rs 1,760.38 billion from scheduled banks against the retirement of Rs 2,213.85 billion last year. of Stone Crushing Associations called on the • Pakistan Bait-ul-Mal (PBM) is providing assistance to destitute, widows, orphans and other needy persons irrespective of their gender, caste, creed and religion through its establishment at the district level. for Finance, Revenue, Industries and Production It says that under the current crisis top priority of the government is to protect the vulnerable segments of the society. Click here for details, 15-04-2021 Archieve, Stat. Punjab Press Releases • Due to lock down situation in the country, the growth estimates of Small-Scale Industry for FY2020 are 1.52 percent. • Most of the net domestic debt raised was through medium-to-long-term government securities (Pakistan Investment Bonds) and National Saving Schemes. • The agriculture sector recorded strong growth of 2.67 percent, considerably higher than 0.58 percent growth achieved in last year. Click here for details, 05-04-2021 2019-20, Federal Budget • According to PSLM Survey 2018-19, the literacy rate of the population (10 years and above) is 60 percent as compared to 58 percent in 2015-16. Economic survey volume 1. of IMF the government of Pakistan reduced its fiscal deficit to 4% of GDP. • Government’s stringent fiscal strategy to improve the revenues along with expenditure rationalisation helped in improving all fiscal indicators. Click here for details, 14-04-2021 The Economic Survey also talks about Government’s efforts against anti-competitive practices. & Mining, Fiscal • The other inflationary indicators like Sensitive Price Indicator (SPI) recorded at 14.3 percent against 4.2 percent over the same period last year. • Private Investment as a percentage of GDP dropped to 9.98 percent from 10.29 percent in FY2019 while Public Investment (including General Government investment) has shown improvement as it remained 3.8 percent compared to 3.7 percent last year. after a gap of over three years In 1994- 07 additional taxes o f Rs.1 40 billion were le vied on the people. • At present, the government is increasing the expenditures on public health and strengthening social safety net programs, along with introducing various other measures to lessen the impact of the COVID-19 on economy. • Under the IMF’s Extended Fund Facility (EFF) program, the government had committed not to borrow from the SBP to finance its deficit and most of the demand has been met by scheduled banks. • SECP took a number of measures to facilitate the market and to absorb the prevailing shocks. Labor Force and Employment, Transport The policy makers, scientists, developers, engineers and many others around the world are using geographic information system technology to better understand this complex situation and offer tangible solutions in different climate change scenarios. Notifications/Office Orders, CHAPTER POL • Total expenditures grew by 15.8 percent during July-March, FY2020 over the same period last year. Supplement 2016-17, Stat. With population growth rate of 2.4 percent, a large number of young labor force is adding every year. • During July 2015 to Dec-2019, telecom sector has attracted over US$ 1.5 billion FDI Inflow, whereas a total of US$ 8.5 billion have been invested by telecom players in Pakistan since 2002. Around 76 percent of the LPG consumed is met with Local Production in Pakistan, whereas the rest is imported. The Executive Summary of the Economic Survey ends with the way forward and talks about the financial crises caused due to the Covid19. Pakistan gdp growth rate for 2018 was 5.84%, a 0.28% increase from 2017. November 17, 2020. Employees Data, Progress • Achieving revenue targets of both tax and non-tax segments is described as challenging due to disruption in economic activity in the summary. Hence, population density stands at 265 per Km. chaired the meeting of the NPMC Term Budget Strategy Paper 2021/22 - 2023/24 The government of Pakistan released economic... Apolitical discussion on Pakistan Economic Survey 2019-20 to anticipate future aspects of Pakistan economy 2020. NAME, Federal Budget Profitable routes have also been started which include: Sialkot- Paris – Barcelona, Peshawar- Sharjah, Peshawar-Al-Ain and Multan-Sharjah. Minister Wholesale Price Index (WPI) recorded at 12.2 percent during Jul-April FY2020 compared to 16.2 percent same period last year. Minister General of Pakistan Revenue, Controller Minister They analyze the various aspects of the financial scenario and then suggest ways to improve the condition of the economy. In FY2020, Pakistan’s capital markets faced challenges on multiple fronts. Click here for details, 07-04-2021 Chapter 4: Undermining Markets: When Government Intervention Hurts More Than It Helps 6 Economic Survey 2019-2020: Summary. Minister The short term economic impact of COVID-19 is expected to be significant creating large fiscal and external financing needs. The survey reported significant progress in the China-Pakistan Economic Corridor programme. The economic survey states that these inflationary pressures were due to correct the macroeconomic imbalances by making difficult decisions of upward adjustment in overdue gas and electricity prices, market-based exchange rate adjustments etc. Supplement 2019-20, HR Ambassador Click here for details, 04-05-2021 As Pakistan is now recovering from lockdown, it is expected that regular service provision will resume to cover the gaps that may have developed. • The COVID-19 pandemic has generated both demand and supply shocks across the global economy and has posed significant challenges for exports to increase further in coming months. Click here for details, 01-04-2021 2020 Summary of Economy Survey 2020 - Volume 1 and 2. Notification The inflation rate in 2018 was 3.9% and in 2019 it is leaping towards double figures i.e., 9.4% (March 2019) and projected to remain high in 2019-20. LPG accounts for only 1.2 percent of the total primary energy supply in the country due to supply constraints and higher price of LPG in relation to competing fuels like natural gas, wood etc. • According to the preliminary estimates conducted by Pakistan Institute of Development Economics (PIDE), the COVID-19 pandemic can have adverse impact on employment generation during the last quarter of 2019-20. Revenue, Industries and Production • During July-March 2019-20, an investment of Rs 3.72 billion approximately has been made in LPG infrastructure. OM - Surrender of Anticipated Savings for CFY 2020-21 Commission of Pakistan, Central • PNSC Group has managed to achieve 6 percent increased profit of Rs 1,411 million for July 2019-March 2020 as against Rs 1,332 million in the corresponding period last year. 2017-18, Federal Budget Click here for details, 07-04-2021 The economy likely recovered in Q1 of this fiscal year—which began in July 2020—after GDP growth slowed significantly in FY 2020 (July 2019–June 2020) due to lockdown measures imposed at the tail end of the year. * Total expenditures increased by 15.8%. • External public debt stock reached US$ 76.5 billion (Rs 12,729 billion), witnessing an increase of US$ 3.0 billion during first nine months of current fiscal year. • Public debt portfolio witnessed various positive developments during the ongoing fiscal year. • Cognisant of the situation, the government has constituted a high-level National Coordination Committee (NCC) that evaluates the evolving situation on day to day basis to prevent the spread of pandemic. Revenues from telecom sector have reached an estimated Rs 132.3 billion in the first quarter of FY2020. No new borrowing was made from SBP during ongoing fiscal year. • Fiscal deficit remained contained in first three quarters of FY2020. Pakistan gdp growth rate for 2016 was 5.53%, a 0.8% increase from 2015. • The inflation rate started easing out due to government policies after January and for the period July-April FY2020 recorded at 11.2 percent against 6.5 percent during the same period last year. Vacancy Announcement - Commissioner Securities and Exchange Commission of Pakistan • High inflation, austerity measures, oil price crash and COVID-19 pandemic jolted the capital market. All of the net external debt raised during first nine months of current fiscal year was from multilateral and bilateral sources on concessional terms. General of Accounts, Securities and Credit, Capital • . • Public Expenditure on education was estimated at 2.3 percent of GDP in 2018-19, as compared to 2.4 percent in 2017-18. • Minerals that witnessed negative growth are Coal 6.34 percent, Natural gas 6.36 percent, Crude Oil 10.55 percent, Chromite 54.5 percent, Magnesite 55.9 percent, Lime Stone 14.71 percent, Marble 3.62 percent and Iron Ore 32.73 percent. Thus, the crops sector experienced a remarkable growth of 2.98 percent due to increase in growth of important crops by 2.90 percent. Click here for details, 22-04-2021 Therefore, prime focus areas of the government are health, social safety, industry, farming, trade etc. This year, the Survey throws a light upon the price … • Public Investment (including General Government investment) grew by 13.2% during FY2020, while it declined by 21.6 percent last year. According to Labour Force Survey 2017-18 the total labour force was 65.5 million. • Similar to the industrial sector, services sector of the economy has also witnessed significant impact of the lock down situation in the country due to COVID-19, particularly in Wholesale and Retail Trade and Transport Sectors. • Workers Welfare Fund during July-March, FY2020 utilised Rs 2,426.31 million on 35,594 scholarship cases while Rs 432.27 million have been disbursed as Marriage Grant (@100,000/- which benefitted 4,323 workers’ families. Click here for details, 03-04-2021 Report 2009, Presidential To diversify investor base in government securities and capitalise liquidity available with Islamic Financial Institutions, government has started issuance of 5-Year Floating Rate Sukuk. meeting with Secretary Planning.... • Furthermore, policy rate was kept high to contain inflation which discouraged investment. • The economic survey describes Pakistan‘s youth as energetic and talented and talks about the government’s efforts to provide them ample opportunities to harness their potential programs such Kamyab Jawan Program and Hunermand Jawan Programme (Skills for All), which are meant to help the youth to enhance their skills which will, thus, play a pivotal role in the socio-economic reconstruction of the society. • The Survey mentions Government’s aims to bring and maintain its Debt-to-GDP and Debt Service-to-Revenue ratios to sustainable levels through combination of greater revenue mobilisation, rationalisation of current expenditure and efficient/productive utilisation of debt. Change, Annex-I: Subdued demand further hampered the overall production and performance of the industry. • Livestock Sector achieved the growth of 2.58 percent. Reports, Overview Debt, Health Economic Advisory Council (EAC) Indicators, Statistical ... the economic survey notes that during July-March overall revenues grew by … Medium • PSDP spending witnessed a significant rise both at federal and provincial levels. • Pakistan Civil Aviation Authority (PCAA) has been spending substantial amount on undertaking various projects all over the country. Government has retired Rs 736.47 billion to SBP against the borrowing of Rs 3,204.72 billion in last year. • The major non-containerised imports were Coal, LNG, POL, Chemicals, Palm oil and Grain. • A Command and Control Centre has also been established to ensure effective coordination among the federal and provincial governments to control COVID-19. State of the economy. Click here for details, 26-04-2021 Click here for details, 03-04-2021 • Pakistan Electronic Media Regulatory Authority (PEMRA) has issued 254 Licenses for FM Radio and 4,062 Cable TV Licenses. Minister for Finance and Revenue chaired the first session of the EAC It stood at Rs 1,095.6 billion during JulyMarch, FY2020 against Rs 421.6 billion in the same period of FY2019. • Province wise analysis suggests that Punjab leads with 64 percent followed by Sindh and Khyber Pakhtunkhwa (Excluding Merged Areas) with 57 percent, Khyber Pakhtunkhwa (Including Merged Areas) with 55 percent and Balochistan with 40 percent. GDP growth is likely to be way less than 5.2% recorded in the previous year and feared to be at around 3% in 2018-19. Click here for details, Site Coordinator: Faheem Anwar, Webmaster. • In order to absorb the inflationary pressure and to contain an overheated economy through domestic demand, SBP increased the policy rate by 100 bps to 13.25 percent in the beginning of the fiscal year 2020. (ii) lengthening of maturities in the domestic market keeping in view cost and risks trade-off; Minister for Finance and Revenue held an introductory Inflation declined thrice in three months , whereas it dropped more than 6 percent in last three months. EDUCATION. 2017-18, Economic Survey • The unemployment rate is 5.8 percent. COVID-19 Advent and Impact Assessment, Economic Accounting & Budgeting System (FABS). The main area of concern, however, relates to external economy and rising prices. According to the National Institute Pakistan Economic Survey 2019-20 for Population Studies, population projected for 2019 is 211.17 million. Pakistan has an extensive gas network of over 12,971 Km Transmission 139,827 KM Distribution and 37,058 Services gas pipelines to cater the requirement of more than 9.6 million consumers across the country. Click here for details, 03-05-2021 SECP has also notified Corporate Rehabilitation Regulations, 2019 and Corporate Restructuring Companies Rules, 2019. OM - Expenditure in the Absence of Budget Provision • Credit to private sector contained to Rs 304.7 billion during 01 Jul-24 Apr, FY2020 as compared to the expansion of Rs 581 billion in the corresponding period due to slowdown in economic activities. Minister for Finance and Revenue chaired the meeting of NPMC Click here for details, 27-04-2021 Click here for details, 30-04-2021 All Rights Reserved. • Within total, current expenditure posted 16.9 percent growth in nine months of current fiscal on account of higher mark-up payments, grants for social spending and expenditures on social protection. Pakistan, as net oil importer, would benefit from the decline in global oil prices in terms of reduced import bill and contraction in CAD. These measures are aimed at facilitating the businesses to remain afloat during the crisis times. for Finance, Revenue, Industries and Production The government has officially released its Economic Survey of Pakistan report for 2018-2019. • According to Pakistan Bureau of Statistics, fourth quarter has been estimated by keeping in view the lockdown situation faced by the industrial sector due to COVID-19. • The primary balance posted a surplus of Rs 194 billion during July-March, FY2020 against the deficit of Rs 463 billion which is described as a remarkable turnaround . WWF has also disbursed Rs 476.00 million as Death Grant (@500,000/-) to 952 cases of mishaps of workers all over the country. In addition to other programme Zakat, Employees Old Age Benefits (EOBI) and Microfinance Institutions are contributing in alleviating poverty from the country. During Rabi season 2019-20, the total water availability reached 29.2 MAF, showing an increase of 17.7 percent over Rabi 2018-19 and 19.8 percent less than the normal availability of 36.4 MAF. Its prices witnessed multiple upward revisions due to decrease in production of Cotton crop during JulyMarch, FY2020 against percent... Production of pulses, oilseeds and vegetables of LPG market is around 1,061,447 MT/Annum for anyone to get copy! Economy Survey 2020 - Volume 1 and 2 bps to 8 percent in last year for... The path of fiscal discipline and fiscal consolidation per Km and Quarrying sector showed negative growth of percent... Remain afloat during the crisis times Public investment ( including General Government Services and Other private have. 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