Growth rate in PDM govt goes negative after revision

The caretaker government has revised the economic growth rate of the PDM coalition government, the 24NewsHD TV channel reported Tuesday.

The National Accounts Committee (NAC) met with the planning secretary in the chair. The economic growth rate in the last financial year of the coalition government turned negative from positive while the economic growth rate of the PTI government's last fiscal witnessed an increase.

In the fiscal year of 2022-23, the economic growth rate was -0.17  per cent, a statement said, adding that the coalition government projected an economic growth rate of 0.29 per cent for 2022-23.

In the last fiscal year of the PTI government, the economic growth rate was 6.17 per cent, the statement said, adding that the coalition government projected an economic growth rate of 6.10 per cent for the financial year 2021-22.

The July-September 2023 economic growth rate was 2.13 per cent and the economic growth rate for July-September 2022 was 0.96 per cent, it said adding that from July to September, the production of the agricultural sector was 5.06 per cent.

The commission stated in the first quarter, the output of the industrial sector stood at 2.48 per cent while the output of the services sector stood at 0.82 per cent