ISLAMABAD - The PDM government has missed all the GDP growth targets and attained only 0.29pc growth against the target of 5.01pc for the FY 2022-23.
The National Accounts Committee (NAC) that met under Secretary Planning Zafar Ali Shah here yesterday reviewed and examined the final, revised and provisional estimates of GDP for the years 2020-21, 2021-22 and 2022-23 respectively. The meeting approved the provisional growth of 1.55pc in agriculture against the target of 3.9pc, while industrial growth was in negative and recorded at -2.94pc against the target of 5.9pc. Similarly, services sector has recorded growth of 0.86pc against the target of 5.1pc during the ongoing fiscal year.
The NAC meeting also reviewed and examined the estimates of backward series of National Accounts for the years 1999-2000 to 2014-15 on 2015-16 base year. The meeting will also review and examine the final and revised estimates of GDP (at constant basic prices of 2015-16) for the year 2020-21 and 2021-22 respectively. The meeting reviewed and examined the provisional estimates of GDP (at constant basic prices of 2015-16) for the year 2022-23. It also reviewed and examined the estimates of GFCF for the years 2020-21 to 2022-23 at current market prices. The provisional GDP growth rate for the fiscal year 2021-22 was estimated at 5.97pc as growth was witnessed in almost all sectors of the economy. The growth of agricultural, industrial and services sectors was 4.40pc, 7.19pc and 6.19pc respectively. Similarly, important crops have provisionally recorded a growth of 7.24pc during the fiscal year. However, the revised growth estimate of 2021-22 has shown increase and has climbed to 6.10pc.