Economic Survey shows strengths and weaknesses of Pakistani economy.

1. Economic Survey 2014-15
There was 4.2% growth of gross domestic product. It is highest growth achieved
since 2008-09. Despite of massive floods in September 2014, four-month sit-in &
agitation and massive decline in international commodity prices, Pakistani
economy achieved substantial growth. Per capita income was 1512 dollars
whereas unemployment was 6%.
Inflation remained under single-digit due to effective monetary policy, vigilant
price monitoring and smooth commodity supply. Services and industrial sectors
growth were 4.95% and 3.62% respectively.
Government believes in transparency. Trade deficit was around 17 billion dollars.
Exports and imports were 26.9 billion and 44 billion dollars respectively. Critics
must remember that foreign exchange reserves were 17.4 billion dollars.
In 2014-15, budget deficit was around 5%. According to FBR, tax revenues are
expected to increase to 11.5%. FBR target for year was revised downward at
Rs.2605 against budgeted-target of Rs.2810 billion. SBP policy rate remained at 7%
whereas we got 1 billion dollars from Sakuk.
Budget of BISP and other support programs increased from Rs.70.28 billion to
Rs.118.15 billion in 2014-15. Beneficiaries increased to 5 million.
Sajid Imtiaz: Chief Editor Daily 10 Minutes, Director Marketing & Sales Customs Today

2. Economic Survey 2014-15
International community is endorsing policies of PML-N government. China and
Pakistan have signed agreements of worth 45 billion dollars. China-Pakistan
Economic Corridor is a network of roads, railway and pipelines between the long-
time allies. Standard and Poor’s raised Pakistan’s outlook from negative to stable
and recently from stable to positive. Moreover, Moody’s has declared China
Pakistan Economic Corridor as “Credit Positive”.
It is worth noting that Pakistan was removed from FATF’s “Grey List” in February
2015 and now included in “White List”.
Government has developed an Action Plan for Improving Pakistan’s Business
Environment. This well chalked out Plan is based on bringing improvement in
Pakistan’s Doing Business rankings. Government is implementing reforms agenda
i.e. power policy and restructuring Pakistan Steel Mills.
Government intends to increase Tax-GDP ratio to 15% whereas exports to 32 billion
dollars. It further intends to increase foreign direct investment to 5 billion dollars
annually and foreign exchange reserves to 20 billion dollars by 2017-18.
Sajid Imtiaz: Chief Editor Daily 10 Minutes, Director Marketing & Sales Customs Today