Amid contraction in big industry production, a large number of direct and indirect workers lost jobs mainly in the textile and auto sectors, but Economic Survey FY23 did not reveal anything about a bleak employment scenario during the outgoing fiscal year. The data, however, presented a rosy picture of the rising employed labour force to 67.25 million in FY21 from 64m in FY19, while data for FY
The investment-to-GDP ratio in the outgoing 2022-23 stood at 13.6 per cent, lowest among the regional countries, according to the economic survey released on Thursday. This ratio stood at 15.6pc in 2021-22. The survey attributed the year-on-year decline to a slowdown in global and domestic economic activity and contractionary macroeconomic policies. The per capita income decreased from $1,76
The economic survey for 2022-23 showed on Thursday the country’s total public debt reached Rs59.24 trillion at the end of March, with domestic debt amounting to Rs35.07tr and external debt clocking in at Rs24.17tr or $85.2 billion. Within domestic debt, the government relied on long-term debt securities, predominantly the floating-rate Pakistan Investment Bonds (PIBs) and Sukuk for the financin
Federal Board of Revenue’s (FBR) tax exemptions reached an all-time high of Rs2.239 trillion in the outgoing fiscal year, up 51 per cent from Rs1.482tr in FY22, showed the Pakistan Economic Survey 2022-23 released by Finance Minister Ishaq Dar on Thursday. The government claims that it has met all conditions set out by the International Monetary Fund to unlock the stuck-up funding under the $7b
The fiscal year 2023 was not very different from the previous many years as the external account recorded a dismal performance owing to increased debt repayment, dwindling reserves and falling exports. The government’s only solace lay in its success in curtailing the import bill but decreased exports and poor remittance collection significantly offset any gains on that front, according to the E