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Growth targets missed in agriculture, industry and other sectors: Economic Survey

Growth targets missed in agriculture, industry and other sectors: Economic Survey

ISLAMABAD: According to the current financial year’s economic survey, growth targets in the sectors of agriculture, livestock, industry, minerals, services and finance could not be achieved due to coronavirus.

In the current financial year, the output growth of the industrial sector was at negative 2.6%. The growth target in the agricultural sector was set at 3.5% but it was only 2.7%. All major crops saw a drop in production, with cotton falling by 4.6%.

The industrial sector’s production target for the current financial year was set at 2.3 per cent, but it remained at negative 2.6 per cent, especially in large industrial units production was at negative 7.8%. Minerals were at negative 8.8% as against 2.0%, services sector was targeted at 4.8% but growth rate was recorded at negative 0.6%.

In the current financial year, the growth rate of distribution, production of electricity and gas exceeded the target. Its growth rate target was 1.5 percent but the growth rate was 17.7 percent.

The construction sector also recorded an increase in the current financial year. The growth target for it was 1.5%, while actual was 8.1%.