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Economic targets: Govt has failed to deliver on most of its promises!

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ISLAMABAD:
In its first year, the PML-N government could not achieve all but one of the economic targets it promised to deliver in its election manifesto and prospects for the current year also remain uncertain, shows the findings of an independent think tank.


Reduction in budget deficit was the only target the PML-N delivered in its first year in power, said Dr Hafiz Pasha, a renowned economist and a former finance minister, while sharing findings of the Institute for Policy Reforms (IPR).

In its elections manifesto, the PML-N outlined 14 economic targets out of which nine were related to macroeconomics, two in the power sector and three in the social sector.

Dr Pasha said there was some improvement on three goals but progress remained below the desired results. He added that the situation remained the same in five areas while it deteriorated in the case of five critical sectors.

The IPR noticed improvements in areas of tax-to-GDP ratio and though collection fell short of the target, there was slight improvement in public debt to GDP ratio and increase in health spending as percentage of GDP.

The tax-to-GDP ratio improved from 9% to 9.3% but fell short of the target of 10.2%. The public debt-to-GDP ratio slightly improved but was still in violation of statutory limit.

Most sectors remained almost at a standstill. In the case of Large Scale Manufacturing (LSM) growth, technical and line losses remained at 17.5%, spending on education as percentage of GDP was still at 2.1% and social protection spending was 1.1% of the GDP.

However, there was marked deterioration in the case of economic growth, inflation, investment, non salary expenses and recovery of electricity bills. The electricity bills recovery ratio fell to 90% from the level of 94% in the last year of the PPP government.

The PML-N manifesto is an impressive document but what is required is the implementation of the promised reforms, said Dr Pasha.

Dr Pasha said there was clear success in reducing the fiscal deficit to the targeted level but the work of “creative accounting cannot be ruled out”.

He said heavy reliance on foreign borrowing remained the hallmark of the previous year and the PML-N government added $5 billion to the country’s external debt. He suggested the government to focus on the revival of the economy.

Dr Pasha said the most worrisome aspect was that the economic growth rate did not improve. He said although the government did not officially release the revised GDP growth rate figure, the IPR’s assessment, which is based on official data, suggests that the growth was in the trajectory of 3.3% to 3.5% last year.

“The economy seems to be locked in a slow growth trap and underlying economic weaknesses persist,” said Humayun Akhtar Khan, former minister for commerce and chairman of IPR Board. He said with the decline in both public and private investment, people do not know from where the driver of growth will come.

Future prospects

“The new fiscal year has not started very well and there is a reversal of few positive developments that took place in the last fiscal year,” said Dr Pasha. He said the 4.9% fiscal deficit target will be missed, development budget is expected to be cut due to shortfall in tax revenues, investment will not pick up and economic growth rate will remain at best at 4% due to uncertainty, floods and persistent load shedding.

He urged the finance minister to improve coordination with other economic ministers.

Dr Pasha said the government slashed Rs65 billion in federal development spending during the first three months.

He said prices of wheat, palm oil, cotton and crude oil fell significantly in the international market in the first quarter but there was no benefit to domestic consumers.

Dr Pasha said despite slight improvement in fuel mix, which warrants reduction in fuel price adjustment, the electricity prices were increased through power equalisation surcharge.

Published in The Express Tribune, November 21st, 2014.
Economic targets: Govt has failed to deliver on most of its promises – The Express Tribune

That happens when you "vote" in a rigged government for the 6th time! They fail to deliver on most if its promises!



@A.Rafay @Ahmad1996 @airmarshal @Akheilos @Armstrong @arushbhai @AstanoshKhan @AZADPAKISTAN2009 @balixd @batmannow @Bilal. @Bratva @chauvunist @Crypto @Dr. Strang @Evil Flare @EyanKhan @Fahad Khan 2 @GIANTsasquatch @graphican @Green Arrow @Guleen Ahmed @HRK @Jazzbot @Junaid B @Jzaib @Khalidr @khawaja07 @KURUMAYA @Leader @Luftwaffe @Marshmallow @mr42O @Muhammad Omar @nomi007 @Pak123 @Pakistani shaheens @Pakistanisage @pak-marine @Peaceful Civilian @pkuser2k12 @Pukhtoon @PWFI @raazh @Rafael @Rashid Mahmood @RescueRanger @Saifkhan12 @Sedqal @SHAMK9 @Spy Master @Stealth @Strike X @SUPARCO @sur @syedali73 @Tameem @TankMan @Tayyab1796 @Zarvan @waleed3601 @AdeelFaheem @Rajput_Pakistani @Men in Green @orakzai4u @IceCold @S.U.R.B. @LoveIcon @razahassan1997 @Cheetah786 @Donatello @SBD-3 @cb4 @AsianUnion @Aether @xyxmt @Proudpakistaniguy @WishLivePak @Waffen SS @FaujHistorian @Fracker @Major Sam @Ranches @ghoul @Jf Thunder @GreenFalcon @genmirajborgza786 @orangzaib @Pakistani Exile @KURUMAYA @Irfan Baloch @ali_raza @Syed.Ali.Haider @dexter @Patriots @muslim_pakistani @W.11


 
I really don't know where this perception of PML-N being business friendly come from. The only Businesses that flourish when NS takes over are the ones owned by him or his over sized clan of inbred degenerates, together with their darbaris. A quick look at any sector should satisfy even a Economic novice of this guy's business credentials.
 
Arrey Nonihalo, Which govt in the world ever fulfilled their promises. W didnt, Obama didnt, Manmohan didnt, Zardari didnt neither will NS nor did PTI in KPK.
 
thanks to Imran Khan and PTI whinning and intentional dharna drama, and waste of media and Pakistani money....what about that crap performance by PTI too?

PMLN is now picking its game, its working true hard, day and night, while PTI workers here can only dream, envy and burn, rather than contribute towards making Pakistan successful, which they promise from their birth.

PTI has FAILED in KPK almost completely, hence all the drama in Islamabad.
 
PTI is in KPK for the first time. Its performance issues cannot be compared with sixth time winner in punjab and three times winner in federal, that is pmln!


Exactly, so why not PTI concentrate on improving KPK and stop poking its nose in Punjab, Sindh etc. PTI has already robbed Punjabis with money sponsoring its expensive campaign, and what is the ultimate performance Punjab got, nil. what a waste of my time, money, media resources....

Atleast now PTI the first time elected govt work for the people of Khyber Paktoonkhawa and stop dreaming of Prime Ministership and Kingship of Punjab....PMLN is here to stay and complete its rightful 5 year term.

Punjab and Balochistan is happy with PMLN Federal govt....let them work pls now.
 
That abysmal economic performance will also happen if you bring in another government through an illegal change of power too, whether dharna powered or fauji powered.
 
Exactly, so why not PTI concentrate on improving KPK and stop poking its nose in Punjab, Sindh etc. PTI has already robbed Punjabis with money sponsoring its expensive campaign, and what is the ultimate performance Punjab got, nil. what a waste of my time, money, media resources....
There are two kinds of issues PTI is concentrated at both local provincial level and national level, this is widespread corruption and voter-fraud. Unless these crucial issues are addressed by the current government and fixed, PTI's protests are going nowhere. Many believe that PTI should have lead opposition from the parliament, which they did for 14 months and when the government failed to entertain their basic demands for probe of 4 controversial constituencies, only then did they go back to public. That is real democracy. If PMLN was democratic in nature, they too should have gone back to their public and allowed accused constituencies to be opened.

Punjab and Balochistan is happy with PMLN Federal govt....let them work now.
LOL :rofl:
Public gives thumbs down to govt performance: survey - Pakistan - DAWN.COM
 
ISLAMABAD:
In its first year, the PML-N government could not achieve all but one of the economic targets it promised to deliver in its election manifesto and prospects for the current year also remain uncertain, shows the findings of an independent think tank.


Reduction in budget deficit was the only target the PML-N delivered in its first year in power, said Dr Hafiz Pasha, a renowned economist and a former finance minister, while sharing findings of the Institute for Policy Reforms (IPR).

In its elections manifesto, the PML-N outlined 14 economic targets out of which nine were related to macroeconomics, two in the power sector and three in the social sector.

Dr Pasha said there was some improvement on three goals but progress remained below the desired results. He added that the situation remained the same in five areas while it deteriorated in the case of five critical sectors.

The IPR noticed improvements in areas of tax-to-GDP ratio and though collection fell short of the target, there was slight improvement in public debt to GDP ratio and increase in health spending as percentage of GDP.

The tax-to-GDP ratio improved from 9% to 9.3% but fell short of the target of 10.2%. The public debt-to-GDP ratio slightly improved but was still in violation of statutory limit.

Most sectors remained almost at a standstill. In the case of Large Scale Manufacturing (LSM) growth, technical and line losses remained at 17.5%, spending on education as percentage of GDP was still at 2.1% and social protection spending was 1.1% of the GDP.

However, there was marked deterioration in the case of economic growth, inflation, investment, non salary expenses and recovery of electricity bills. The electricity bills recovery ratio fell to 90% from the level of 94% in the last year of the PPP government.

The PML-N manifesto is an impressive document but what is required is the implementation of the promised reforms, said Dr Pasha.

Dr Pasha said there was clear success in reducing the fiscal deficit to the targeted level but the work of “creative accounting cannot be ruled out”.

He said heavy reliance on foreign borrowing remained the hallmark of the previous year and the PML-N government added $5 billion to the country’s external debt. He suggested the government to focus on the revival of the economy.

Dr Pasha said the most worrisome aspect was that the economic growth rate did not improve. He said although the government did not officially release the revised GDP growth rate figure, the IPR’s assessment, which is based on official data, suggests that the growth was in the trajectory of 3.3% to 3.5% last year.

“The economy seems to be locked in a slow growth trap and underlying economic weaknesses persist,” said Humayun Akhtar Khan, former minister for commerce and chairman of IPR Board. He said with the decline in both public and private investment, people do not know from where the driver of growth will come.

Future prospects

“The new fiscal year has not started very well and there is a reversal of few positive developments that took place in the last fiscal year,” said Dr Pasha. He said the 4.9% fiscal deficit target will be missed, development budget is expected to be cut due to shortfall in tax revenues, investment will not pick up and economic growth rate will remain at best at 4% due to uncertainty, floods and persistent load shedding.

He urged the finance minister to improve coordination with other economic ministers.

Dr Pasha said the government slashed Rs65 billion in federal development spending during the first three months.

He said prices of wheat, palm oil, cotton and crude oil fell significantly in the international market in the first quarter but there was no benefit to domestic consumers.

Dr Pasha said despite slight improvement in fuel mix, which warrants reduction in fuel price adjustment, the electricity prices were increased through power equalisation surcharge.

Published in The Express Tribune, November 21st, 2014.
Economic targets: Govt has failed to deliver on most of its promises – The Express Tribune

That happens when you "vote" in a rigged government for the 6th time! They fail to deliver on most if its promises!



@A.Rafay @Ahmad1996 @airmarshal @Akheilos @Armstrong @arushbhai @AstanoshKhan @AZADPAKISTAN2009 @balixd @batmannow @Bilal. @Bratva @chauvunist @Crypto @Dr. Strang @Evil Flare @EyanKhan @Fahad Khan 2 @GIANTsasquatch @graphican @Green Arrow @Guleen Ahmed @HRK @Jazzbot @Junaid B @Jzaib @Khalidr @khawaja07 @KURUMAYA @Leader @Luftwaffe @Marshmallow @mr42O @Muhammad Omar @nomi007 @Pak123 @Pakistani shaheens @Pakistanisage @pak-marine @Peaceful Civilian @pkuser2k12 @Pukhtoon @PWFI @raazh @Rafael @Rashid Mahmood @RescueRanger @Saifkhan12 @Sedqal @SHAMK9 @Spy Master @Stealth @Strike X @SUPARCO @sur @syedali73 @Tameem @TankMan @Tayyab1796 @Zarvan @waleed3601 @AdeelFaheem @Rajput_Pakistani @Men in Green @orakzai4u @IceCold @S.U.R.B. @LoveIcon @razahassan1997 @Cheetah786 @Donatello @SBD-3 @cb4 @AsianUnion @Aether @xyxmt @Proudpakistaniguy @WishLivePak @Waffen SS @FaujHistorian @Fracker @Major Sam @Ranches @ghoul @Jf Thunder @GreenFalcon @genmirajborgza786 @orangzaib @Pakistani Exile @KURUMAYA @Irfan Baloch @ali_raza @Syed.Ali.Haider @dexter @Patriots @muslim_pakistani @W.11






Not most on its promises Government failed to fulfill even one of it promises. Name any one that they fulfilled.
 
ISLAMABAD:
In its first year, the PML-N government could not achieve all but one of the economic targets it promised to deliver in its election manifesto and prospects for the current year also remain uncertain, shows the findings of an independent think tank.


Reduction in budget deficit was the only target the PML-N delivered in its first year in power, said Dr Hafiz Pasha, a renowned economist and a former finance minister, while sharing findings of the Institute for Policy Reforms (IPR).

In its elections manifesto, the PML-N outlined 14 economic targets out of which nine were related to macroeconomics, two in the power sector and three in the social sector.

Dr Pasha said there was some improvement on three goals but progress remained below the desired results. He added that the situation remained the same in five areas while it deteriorated in the case of five critical sectors.

The IPR noticed improvements in areas of tax-to-GDP ratio and though collection fell short of the target, there was slight improvement in public debt to GDP ratio and increase in health spending as percentage of GDP.

The tax-to-GDP ratio improved from 9% to 9.3% but fell short of the target of 10.2%. The public debt-to-GDP ratio slightly improved but was still in violation of statutory limit.

Most sectors remained almost at a standstill. In the case of Large Scale Manufacturing (LSM) growth, technical and line losses remained at 17.5%, spending on education as percentage of GDP was still at 2.1% and social protection spending was 1.1% of the GDP.

However, there was marked deterioration in the case of economic growth, inflation, investment, non salary expenses and recovery of electricity bills. The electricity bills recovery ratio fell to 90% from the level of 94% in the last year of the PPP government.

The PML-N manifesto is an impressive document but what is required is the implementation of the promised reforms, said Dr Pasha.

Dr Pasha said there was clear success in reducing the fiscal deficit to the targeted level but the work of “creative accounting cannot be ruled out”.

He said heavy reliance on foreign borrowing remained the hallmark of the previous year and the PML-N government added $5 billion to the country’s external debt. He suggested the government to focus on the revival of the economy.

Dr Pasha said the most worrisome aspect was that the economic growth rate did not improve. He said although the government did not officially release the revised GDP growth rate figure, the IPR’s assessment, which is based on official data, suggests that the growth was in the trajectory of 3.3% to 3.5% last year.

“The economy seems to be locked in a slow growth trap and underlying economic weaknesses persist,” said Humayun Akhtar Khan, former minister for commerce and chairman of IPR Board. He said with the decline in both public and private investment, people do not know from where the driver of growth will come.

Future prospects

“The new fiscal year has not started very well and there is a reversal of few positive developments that took place in the last fiscal year,” said Dr Pasha. He said the 4.9% fiscal deficit target will be missed, development budget is expected to be cut due to shortfall in tax revenues, investment will not pick up and economic growth rate will remain at best at 4% due to uncertainty, floods and persistent load shedding.

He urged the finance minister to improve coordination with other economic ministers.

Dr Pasha said the government slashed Rs65 billion in federal development spending during the first three months.

He said prices of wheat, palm oil, cotton and crude oil fell significantly in the international market in the first quarter but there was no benefit to domestic consumers.

Dr Pasha said despite slight improvement in fuel mix, which warrants reduction in fuel price adjustment, the electricity prices were increased through power equalisation surcharge.

Published in The Express Tribune, November 21st, 2014.
Economic targets: Govt has failed to deliver on most of its promises – The Express Tribune

That happens when you "vote" in a rigged government for the 6th time! They fail to deliver on most if its promises!

MPS Sep 2014 Compendium.JPG
 
Last edited:
ISLAMABAD:
In its first year, the PML-N government could not achieve all but one of the economic targets it promised to deliver in its election manifesto and prospects for the current year also remain uncertain, shows the findings of an independent think tank.


Reduction in budget deficit was the only target the PML-N delivered in its first year in power, said Dr Hafiz Pasha, a renowned economist and a former finance minister, while sharing findings of the Institute for Policy Reforms (IPR).

In its elections manifesto, the PML-N outlined 14 economic targets out of which nine were related to macroeconomics, two in the power sector and three in the social sector.

Dr Pasha said there was some improvement on three goals but progress remained below the desired results. He added that the situation remained the same in five areas while it deteriorated in the case of five critical sectors.

The IPR noticed improvements in areas of tax-to-GDP ratio and though collection fell short of the target, there was slight improvement in public debt to GDP ratio and increase in health spending as percentage of GDP.

The tax-to-GDP ratio improved from 9% to 9.3% but fell short of the target of 10.2%. The public debt-to-GDP ratio slightly improved but was still in violation of statutory limit.

Most sectors remained almost at a standstill. In the case of Large Scale Manufacturing (LSM) growth, technical and line losses remained at 17.5%, spending on education as percentage of GDP was still at 2.1% and social protection spending was 1.1% of the GDP.

However, there was marked deterioration in the case of economic growth, inflation, investment, non salary expenses and recovery of electricity bills. The electricity bills recovery ratio fell to 90% from the level of 94% in the last year of the PPP government.

The PML-N manifesto is an impressive document but what is required is the implementation of the promised reforms, said Dr Pasha.

Dr Pasha said there was clear success in reducing the fiscal deficit to the targeted level but the work of “creative accounting cannot be ruled out”.

He said heavy reliance on foreign borrowing remained the hallmark of the previous year and the PML-N government added $5 billion to the country’s external debt. He suggested the government to focus on the revival of the economy.

Dr Pasha said the most worrisome aspect was that the economic growth rate did not improve. He said although the government did not officially release the revised GDP growth rate figure, the IPR’s assessment, which is based on official data, suggests that the growth was in the trajectory of 3.3% to 3.5% last year.

“The economy seems to be locked in a slow growth trap and underlying economic weaknesses persist,” said Humayun Akhtar Khan, former minister for commerce and chairman of IPR Board. He said with the decline in both public and private investment, people do not know from where the driver of growth will come.

Future prospects

“The new fiscal year has not started very well and there is a reversal of few positive developments that took place in the last fiscal year,” said Dr Pasha. He said the 4.9% fiscal deficit target will be missed, development budget is expected to be cut due to shortfall in tax revenues, investment will not pick up and economic growth rate will remain at best at 4% due to uncertainty, floods and persistent load shedding.

He urged the finance minister to improve coordination with other economic ministers.

Dr Pasha said the government slashed Rs65 billion in federal development spending during the first three months.

He said prices of wheat, palm oil, cotton and crude oil fell significantly in the international market in the first quarter but there was no benefit to domestic consumers.

Dr Pasha said despite slight improvement in fuel mix, which warrants reduction in fuel price adjustment, the electricity prices were increased through power equalisation surcharge.

Published in The Express Tribune, November 21st, 2014.
Economic targets: Govt has failed to deliver on most of its promises – The Express Tribune

That happens when you "vote" in a rigged government for the 6th time! They fail to deliver on most if its promises!



@A.Rafay @Ahmad1996 @airmarshal @Akheilos @Armstrong @arushbhai @AstanoshKhan @AZADPAKISTAN2009 @balixd @batmannow @Bilal. @Bratva @chauvunist @Crypto @Dr. Strang @Evil Flare @EyanKhan @Fahad Khan 2 @GIANTsasquatch @graphican @Green Arrow @Guleen Ahmed @HRK @Jazzbot @Junaid B @Jzaib @Khalidr @khawaja07 @KURUMAYA @Leader @Luftwaffe @Marshmallow @mr42O @Muhammad Omar @nomi007 @Pak123 @Pakistani shaheens @Pakistanisage @pak-marine @Peaceful Civilian @pkuser2k12 @Pukhtoon @PWFI @raazh @Rafael @Rashid Mahmood @RescueRanger @Saifkhan12 @Sedqal @SHAMK9 @Spy Master @Stealth @Strike X @SUPARCO @sur @syedali73 @Tameem @TankMan @Tayyab1796 @Zarvan @waleed3601 @AdeelFaheem @Rajput_Pakistani @Men in Green @orakzai4u @IceCold @S.U.R.B. @LoveIcon @razahassan1997 @Cheetah786 @Donatello @SBD-3 @cb4 @AsianUnion @Aether @xyxmt @Proudpakistaniguy @WishLivePak @Waffen SS @FaujHistorian @Fracker @Major Sam @Ranches @ghoul @Jf Thunder @GreenFalcon @genmirajborgza786 @orangzaib @Pakistani Exile @KURUMAYA @Irfan Baloch @ali_raza @Syed.Ali.Haider @dexter @Patriots @muslim_pakistani @W.11




As many KP residents under PTI gov knnow, economy changes occur over long period of time. At least 4-5 years via operational techniques, and 20-25 years under strategic methods.

Anyone who says they can turn around all of economy in 18 months is simply making political statements, to soothe the nerves, and reduce the panic attacks.



Meray Pakistani bhaio


Pakistan is not PTI's jagir or PMLN's castle.

It is ours. And we should never let PTI or PMLN or anyone else create panic in our beautiful country.

Just keep an eye. use parliament and courts to make minor corrections during 5 years, then vote in the party you think will do better.

peace
 

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