Tuesday will see the release of the Pakistan Economic Survey 2023–24, a pre-budget document that summarises the key socioeconomic accomplishments from the previous fiscal year 2023–24.
The pre-budget paper will be introduced by Finance Minister Muhammad Aurangzeb at 5:30 p.m., the Finance Ministry announced in a news release on Monday.
The survey will include information on the main socioeconomic advancements, business performance, and market trends in a number of economic sectors, such as capital markets, health, education, transportation, and communication, as well as agriculture, manufacturing and industry, services, energy, and information technology and telecom.
The survey will also provide a detailed description of the annual changes of the main economic indicators with reference to employment, population, employment trends, trade and payments, public debt, inflation, employment, climate change, and social safeguards.
Estimates from the Planning Commission presented to the Annual Plan Coordination Committee indicated that the economy was facing serious difficulties at the start of 2023–2024, mostly as a result of the previous year’s economic disruptions that had a delayed effect.
Nonetheless, the economy expanded by 2.4% in 2023–2024 and recovered somewhat.
Due to record-breaking production of wheat, cotton, and rice, the agriculture sector grew by 6.3 percent in 2023–2024, leading the overall expansion.
NEC gathering transpired
Concurrently, all chief ministers attended a meeting of the freshly established National Economic Council today.
The administration will make the most use of the resources already in place to promote prosperity, economic recovery, and growth, according to Prime Minister Shehbaz Sharif.
He went on to state that the federation would guarantee engagement with the provinces and other relevant parties in all significant economic decisions so that decisions that would benefit the nation’s growth and garner the support of everyone could be taken.
The suggested development plan for 2024–25 as well as the yearly development plan and performance for 2023–24 were presented to the council.
The growth rate goal for the following year was raised, it was announced to the attendees of the conference.
According to Prime Minister Shehbaz, agriculture is the foundation of the national economy and its growth depends heavily on province-to-province cooperation.
He stated that the strategy ought to incorporate the provinces’ suggestions pertaining to agriculture and other areas.
The macroeconomic framework for the annual plan 2024–25, the targets for the economic growth rate, and the publishing of the annual plan 2024–25 were all authorised by the council.
