ISLAMABAD: The federal minister for finance Ishaq Dar on Monday presented the economic survey for the current financial year, an important document which highlights performance of different sectors of the economy.
In a news conference in Islamabad, the finance minister said that the gross domestic product (GDP) growth rate was 4.1 percent against the target of 4.4 percent.
The minister said that the industrial growth rate stood at 5.84 percent as compared to 1.37 percent last year. He said that the services sector stood at 4.29 percent as compared to 4.85 percent last year. He said the agriculture sector, growth stood at 2.12 percent compared to 2.88 percent last year.
Dar said that the government gave the subsidy on imported fertilizer to maintain uniform prices.
The finance minister said that the inflation increased by 8.7 percent during July-April 2013-14 as against an increase of 7.8 percent in the comparable period. He said that the exports stood at $21 billion in July-April 2013-14, which is higher by 2.4 percent over last year’s level.
Ishaq Dar said that the growth in remittances over period of last six years was 19 percent while remittances reached $12.9 billion during July-April 2013-14. He said that $2.979 million of foreign direct investment recorded this year.
In addition, he said that the cotton growth reduced by 1.54 percent, the rice growth increased by 22.8 percent, the wheat increased by 4.44%, the maize increased by 7.27 percent.
The minister said that 14 firms reduced tariff of their produces after rupee gained strength.
