The government conceded on Thursday average inflation will surpass its budgetary target and remain at 29 per cent for 2022-23 owing to the unprecedented depreciation and rising global commodity prices. According to the Pakistan Economic Survey 2022-23 released on Thursday, the inflation target for the outgoing fiscal year was 11.5pc. Global inflationary pressures have intensified in recent year
FINANCE Minister Ishaq Dar could have kept the Pakistan Economic Survey 2022-23 unveiling ceremony quite short. ‘We blame everyone and everything but ourselves’, would have neatly summarised the gist of most of what he had to say about his government’s report card for the outgoing fiscal year. It wasn’t difficult to see why he felt a need to be so defensive. The numbers he had to share told a h
FINANCE Minister Ishaq Dar could have kept the Pakistan Economic Survey 2022-23 unveiling ceremony quite short. ‘We blame everyone and everything but ourselves’, would have neatly summarised the gist of most of what he had to say about his government’s report card for the outgoing fiscal year. It wasn’t difficult to see why he felt a need to be so defensive. The numbers he had to share told a h
Amid contraction in big industry production, a large number of direct and indirect workers lost jobs mainly in the textile and auto sectors, but Economic Survey FY23 did not reveal anything about a bleak employment scenario during the outgoing fiscal year. The data, however, presented a rosy picture of the rising employed labour force to 67.25 million in FY21 from 64m in FY19, while data for FY
The investment-to-GDP ratio in the outgoing 2022-23 stood at 13.6 per cent, lowest among the regional countries, according to the economic survey released on Thursday. This ratio stood at 15.6pc in 2021-22. The survey attributed the year-on-year decline to a slowdown in global and domestic economic activity and contractionary macroeconomic policies. The per capita income decreased from $1,76