Imran Khan had promised to improve economic conidtion of Pakistan if he becomes the prime minister. But so far, it seems that he fails to deliver. Saying “Facts are stubborn things” seems perfect in this scenario. Here are the official facts from FBR which suggests that Imran Khan’s government destroy Pakistan economy:
Economic Growth: Overall growth of Pakistan has slowed down to 3.3% against the target of 6.2%(It is lowest performance in nine years). It means it is the half of the annual target of 6.2% .
Currency: Currency devaluation has caused the size of the economy – in the US dollar terms-to slip from $313 billion to $280 billion.
Agriculture Sector: The agricultural sector contributed only 5% to the annual national output, Major crops contracted by 4.4% , other crops contracted by 6.6%, Cotton declined to 17.5%, Rice declined to 3.3% and Sugar Cane shockingly declined 19.4%.
Tax Collection: Performance of collecting tax is worst in 20 years, PTI’s government had set a target of Rs 3.75 trillion, but collected only Rs 3.31 trillion. It means Short Fall is Rs 440 billion, which breaks all the record. Tax GDP is currently 9.9% whereas in PML N tenure GDP was 11.6%.
Large scale manufacturing contracted only 0.3%, but, the good news is that small scale manufacturing grew to 8.2%. Industrial sector grew at only 1.4%, Service sector grew by 4.7% against the target of 6.5%, Services sector, (less job intensive) contributed 87% to the total output growth.
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