He added: “They needed a magic wand to cure the economic ills.” Excellent analysis of PMLNs performance over the last 5 years. While PTI is a superior choice in terms of lesser intent of corruption at the top, the party's ability to implement against plans remains a question mark. Last edited: Oct 25, 2018. The external debt has increased by $14.9b since June 2018 which the PMLN increased by $18 billion in five years. The external current account deficit reached $ 18 billion in FY2018 (5.8% of GDP), which is the highest ever in the country's history in absolute terms. Pakistan today is much much better in 2018 than it was in 2013, in all fields of life be it security, power, social reforms, education or infrastructure. The services sector growth on average stood at 3.6 percent from 2008-9 to 2012-13 to 5.09 percent on average from 2013-14 to 5.09 percent in 2016-17. It is as if the PML-N did not know Pakistan's record and potential for attracting foreign investment. 2: 10% price increase for consumer using 300-700 units. Average growth in the agriculture sector remained 2.1 percent against the target of 3.5 percent although the government had announced a hefty Rs 341 billion relief package for the farmers. They were productive to meet the energy and infrastructural needs of the country, particularly development of the Gwadar deep seaport. In PMLN govt 2013-18, the Inflation rate in the whole country was about 2.9%. CPEC, being a $46billion Chinese investment project, was a welcome plan, but $1.65 billion Chinese loans for the construction of the metro train did not correspond with the party pledge of minimising burden of foreign debts on the national economy. Truth could not be hidden by lying, threatening or abusing, she said, adding the people knew the real culprits behind the present economic catastrophe. But the PML-N government is found hectically looking for the buyers to sell these national institutions which are under a debt burden of around Rs 1,000 billion. From 1947 to 2018, she said all the governments together obtained loans worth Rs 24,953 billion but the national debt rose to Rs 42,745 billion during the PTI tenure. The price of kerosene oil came down from Rs103.69 per liter on March 1, 2013 to Rs76.45 per liter on March 1, 2018. That's the difference!!! The country’s GDP growth went up from 3.68 percent in 2012-13 to 5.28 percent in 2016-17 and average growth rate remained at 4.7 percent in last five years. Despite strong economic growth, Pakistan faces rise in fiscal and trade deficits that could kill growth. 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Islamabad, Pakistan – When the Pakistan Muslim League-Nawaz (PML-N) party swept to power after general elections in 2013, chief among their promises was to turn around an economy in dire straits, revitalising growth and overcoming a chronic energy shortage that had crippled many industries. Mian sahab maybe our friend will show up and write long posts as to why these hospitals couldn't be built due to deep state sazish. In its latest report, which covered the four-year economic performance of the PML-N, the Policy Research Institute of Market Economy (PRIME) noted that the incumbent government has failed to fully implement its election manifesto on the economic front and has achieved just six of its 89 announced goals. Marriyum said Pakistan was a democratic country and the decision regarding election would be taken in consultation with all the political and national parties. The Ministry of Finance did not explain that the definition of debt was changed and external liabilities were excluded from definition of debt under amended Fiscal Responsibility and Debt Limitation Act approved by the Parliament. One of our biggest problems is that we are happy to blame the governments but don’t strive to change ourselves. “This is how it has always worked, for the last 20 years we have seen this pattern. Prince Harry ‘fighting’ To Protect Monarchy’s ‘reputation’ With Hacking Case, ‘Harry Potter’ Star Emma Watson Dating American Businessman Ryan Walsh. However, like the past two tenures, the party failed to deliver up to the mark. The second year in 2019-20, the exports declined because of eruption of Covid-19 pandemic in the last quarter (April-June) period of 2019-20. The inflation which stood at 7.36 percent in 2012-13 to 4.16 percent in 2016-17. In PMLN’s last year, inflation was only 3.9pc. width:auto;
He is being held responsible for the economic problems of the country. There is no credit taking, it is what it is. “Whatever gains were made during four years in office were lost with double speed last year. (Source: Topline Securities). Very well written and informative article. Mr. Asad Umer: (a) Government obtained foreign loans amounting to US$ 42.1 billion during July 01, 2013 to March 31, 2018 while repayments were recorded at around US$ 20 billion during this period. How would the government have allocated resources to such a project when it failed to achieve its revenue target each year and consistently cut back on development expenditure? Humaima creates buzz with latest Instagram post, Rahat Fateh Ali Khan’s song ‘Ankhain’ surpasses 100 million views. #پاکستان_2017_والا . #پاکستان_2017_والا . The Pakistan Muslim League-Nawaz (PML-N) promised much in its election manifesto but delivered little in terms of economic performance. Those who are criticizing him need to consider that a government irrespective of who is in power can do better only if peoples pay taxes and we will cut on expenditures which has been doubled in the past five years and each year the demand is increasing for more money and that figure currently exceeding 1.3 Trillion Rupees mark, Well done PML (N)
The abysmal numbers fall well short of the intended targets. The delimitations of constituencies carried out in the light of census 2017 became disputed. Hmain aur be aga Jana hai || PMLN government performance in 2013 to 2018-~-~~-~~~-~~-~-Please watch: "KP governor House Open for Public || Development in Pak. “[Pakistan’s] growth has been accompanied in the past 18 months with an increase in macroeconomic imbalances,” says the World Bank’s Armos. Now it is expected that this transfer of resources may go up to Rs2400 billion till end June 2018. }
The credit to private sector stood at negative 7.6 billion in 2012-13 which had now gone up to Rs747 billion in 2016-17. Also, building 35 hospitals over over Punjab. During the PPP era Karachi was the wild wild west, atleast noon did not stop the rangers and army from doing what the police in Sindh was incapable of doing. The PML-N had pledged to raise exports to $30 billion against optimum imports of $51 billion, but it miserably failed to honour the commitment. Asad Hashim is Al Jazeera’s Digital Correspondent in Pakistan. That record . One of the worst performance areas was tax reforms. Share your expertise with us at blog@dawn.com, Asim Bashir Khan is an economist and has previously served the government of Sindh on energy, investment, trade, public policy, and reforms. The PTI led regime achieved 2.1 percent growth in 2018-19, which got contracted to negative 0.47 percent in 2019-20 after eruption of Covid-19 pandemic and now the provisional GDP growth is estimated at 3.94 percent for 202-21. —In cooperation with the provinces, the PML-N government will raise the total spending on non-pension social protection from the current level of one percent of GDP to at least two percent by 2018. On fiscal deficit, the average fiscal deficit was around 8 percent of GDP under the PTI led regime but it was standing at 5.6 percent of GDP. Exactly how many new MW were added by the government during their 5 years?w, Only one. The projects like China-Pakistan Economic Corridor (CPEC), Lahore Metro Bus and Orange Line were initiated with the Chinese loan. It looks PMLN either full fill all of its promises or tried to fulfill. “They have succeeded in restarting growth and […] in executing some mega projects, and in activating CPEC,” says Khurram Husain, an economic analyst and journalist. Khurram Dastgir was appointed as defence minister when Khawaja Asif was made foreign minister. The News International, All Rights Reserved | Contact Us | Authors, Researchers to preserve remains of blue whale, Political nexus, inefficient bureaucracy hurdle in beating plastic pollution, Citizens worry about gas leakage incidents, Disney Hints At Johnny Depp Return To 'Pirates Of The Caribbean', Kanye West’s New Bride Bianca Censori Finding It Hard To Deal With Paparazzi, Drew Barrymore Strongly Reacts To Tabloid’s Misleading Headline About Mother’s Death: Watch, Kim Kardashian Dressing Up To Impress A Younger Man To Date, Claims Expert. He is in London while cases of corruption and corrupt practices are being heard against him. This is prepoll rigging not what PTI is claiming in reference to Rehams book. In spite of all the narrative building, all the PTI will achieve after three years is a 1pc increase. Taylor Swift Used Matty Healy As Rebound After Joe Alwyn Breakup? “This is the highest growth rate in 15 years, and the highest in the manufacturing sector in 10 years,” Miftah Ismail, Pakistan’s outgoing finance minister, told Al Jazeera. The government conducted the population census after the lapse of two decades and that too after the Supreme Court intervened. Well done Nawaz. Copyright © 2023. Company’s Financials Lead Stories Besides increase in spending alone will not improve a sector of economy unless corruption that erodes the spending is controlled. I do not see any effort by PML-N on anti-corruption efforts to stop the looting of Pakistan. The Punjab government also claimed to have saved Rs 165 billion in the energy and other development projects. What about the serious corruptions charges on the leadership and clan? RT @SohaibAwan999: People only need 2017th Pakistan back. #welldonepmln, PIA will soon be back on track InshaAllah. If the total public debt and liabilities are included, then it stood at Rs29,800 billion till end June 2018. “Deterioration in external account, increasing external debts and liabilities, poor performance of distribution companies, mounting circular debt, failure to privatize and reduce losses of public sector enterprises (PSEs), high reliance on indirect taxation, high fiscal deficit, artificially inflated Pakistan rupee against the USdollar, and less spending on health and education were the areas where PML-N missed its targets”, said Muhammad Sohail, senior analyst and CEO of Topline Securities. The PMLN achieved provisional 5.8 percent GDP growth in the fiscal year 2017-18 but after PTI came into power, this growth figure was revised downward to 5.5 percent in finalised estimates. As electricity became available, industry started expanding and modernizing, putting more pressure on imports. KARACHI: As Pakistan gears up for the general election on July 25, Pakistan Muslim League Nawaz-PML-N has promised to build on the foundation of modern energy and logistics infrastructure and take the economy to the next level by enabling an agro-industrial revolution for job creation. The government successfully controlled inflation rate and increased power generation, but failed to upgrade the country’s ageing power supply systems”, Dr. Pasha added. The minister asked Imran as to why the ranking of Pakistan went up 23 points during the PTI rule. PMLN- Hits and misses: PML-N’s record, 2013-2018. Some of those power plants have already begun to come online, bringing reductions to rolling power blackouts that have plagued the South Asian country for years. over 5 million from saloons during last three years, US, India agree defence industry cooperation plan, Twitter ‘chose conflict’ on EU disinformation code, Australian released after 20 years for killing infants. According to comparison done by the Ministry of Finance and available with The News, the price of diesel reduced from Rs113.56 per liter on March 1, 2013 to Rs98.45 per liter on March 1, 2018. The writer did not bring the darker side under the limelight. This year, even though global trade in home textiles has increased by double digits, Pakistan’s exports after three years and huge devaluation will only surpass the level attained by PMLN of $24.8 billion by 1pc. From around 3 percent, the growth went up to more than 4 percent in the first year and then witnessed a consistent growth over the five-year period, ending with 5.8 percent in its last year. The PMLN added Rs2,100 billion debt per year on an average and built power plants and motorways and CPEC, it further stated. The commitment was to make these institutions productive after liquidating their debts. Islamabad: Ministry of Finance has prepared comparative performance of last five years during the PML-N led regime, showing that the prices of petroleum products reduced significantly as price of petrol came down from Rs106 per liter on March 1, 2013 to Rs88.07 per liter on March 1, 2018. The performance of PML-N in Sindh has been abysmal to say the least. The research design was a quantitative content analysis method and analyzing frames . Whoever comes to power later this year will have to keep this statistic in mind. #پPeople only need 2017th Pakistan back. They didn't do anything good in kpk. “The performance of the PML-N government was a blend of success and failures. Our FBR tax collection at Rs 1,946 billion was only 8.4% of GDP 3 and stagnant. But the incumbent regime failed to tackle rising inflationary pressures. text-align: center;
What about circular debts? Today, load shedding of 18-20 hours has ended. The gap between what was said and what was done has pushed . They are the only ones now that can improve Pakistan as PPP are only interested in their own welfare and PTI is capable of doing nothing. hospitals in the province - LRH and KTH, and see the state of affairs first-hand. What happened to the super high end service by PIA and #Brand Nawaz Sharif, "Too often we... enjoy the comfort of opinion without the discomfort of thought"-JFK. During PPP rule, Pakistan was one of the most dangerous countries in the world and they have done well to recover from that. As the PML-N took office, central bank foreign exchange reserves stood at $6.5bn, their lowest level in 10 years. Honestly if you have heart you will cry to see the people how they are spending their life. Nice detail work.. just a small question.. year on year Pakistan dependence on import vs. export spread is constantly growing.. in the month or so.. rupee has dramatically lost in open currency market. text-align: center;
On average, the GDP growth remained 1.9 percent in the last three years, which was much below than average population growth of 2.4 percent on per annum basis in Pakistan. I would love to give PML-N another chance. . The PMLN exports stood at $24.8 billion in its last year rule in 2017-18 but exports reduced in the first two years’ rule under the PTI led regime in 2018-19 and 2019-20. Statistics give a partial story ..... ask the common man and you would get the true picture. Btw, after you avoided the saplings challenge, why have you avoided defending Showbiz after his blatant theft of 400crore. In PMLN govt 2013-18, the Inflation rate in the whole country was about 2.9%. @Zack Khan What is PTI performance in KP? The PML-N government also failed to bring about the required structural improvements in order to correct past imbalances. Islamabad: Ministry of Finance has prepared comparative performance of last five years during the PML-N led regime, showing that the prices of petroleum products reduced significantly as price of petrol came down from Rs106 per liter on March 1, 2013 to Rs88.07 per liter on March 1, 2018. Against the target of reducing maternal mortality rate to 140 per 100,000 women, the ratio remained at 170, which was better than it was five years ago. I think PML-N's government has performed far better than any other government. “It is pretty much in the same spot that we were five years ago, except this time as we get ready for a new bailout, we are starting with a current account deficit which is far bigger, and a significantly larger external debt,” said Asad Umar, of the opposition Pakistan Tehreek-e-Insaf (PTI) party. But not everything, analysts warn, is as rosy as it seems. Not to mention the fact that coal power plants are major pollutants as well. The NAB has taken up the matters relating to the alleged Rs 200 billion corruption in the LNG export contact with Qatar, expansion of airports in Lahore and Islamabad, Ashiana Housing Scheme, Quaid-e-Azam Solar Energy project and others. The PML-N, in turn, is bullish, and feeling confident that they have delivered on their promises to turn Pakistan’s economy around. 3 Jul 2018 Islamabad, Pakistan - When the Pakistan Muslim League-Nawaz (PML-N) party swept to power after general elections in 2013, chief among their promises was to turn around an economy. It neglected the rest of the country. The government didn't follow through on its promise to legislate a right to food policy. Really wanted to read an impartial analysis. What about improvement in Law and Order situation? check out the. The government did increase spending on education and health, but only marginally so. “It is easy to increase the fuel prices, but we do not want to put more burden on the people,” she maintained. Facing the possibility of default, by September the government had approached the International Monetary Fund (IMF), seeking a three-year $6.68bn programme to help stabilise the economy and introduce macroeconomic reforms. When the prices of POL products are linked with international price then how the government can claim its performance if prices reduced or increased internationally. Hardly peoples pay taxes and then from that pool of money so called defence take its cut which has been doubled in last five years. Generated electricity but forgot to upgrade the transmission lines so the generated electricity is useless. The macroeconomic legacy of PML-N government is comprises the following: • Massive external current account deficit. The external current account deficit rose to $14bn in the first 10 months of the 2018 financial year, a 50 percent rise from the same period last year. Development of Gwadar Port, Gwadar-Quetta and Multan-Karachi Motorway, completion of Lowari Tunnel, Katchhi Canal and introduction of e-technology in various departments in public sector are the projects the PML-N government can claim credit for them. The rise in consumption, Hussain points out, has not been accompanied by a rise in investment in the private sector, leading to a growth trajectory that may be inordinately dependent on the government. The government initiated several coal-fired plants in places such as Sahiwal, Port Qasim, Jamshoro, Faislabad, Mianwali and DG Khan; a solar park in Bahawalpur; and wind farms in Sindh. Nawaz Sharif, in his stint in the office of prime minister, had announced to establish 50 state-of-the-art public-sector hospitals in the country as a step to cater to the health needs of the poor, but nothing was done on this count. margin:0px auto;
The final report of the census is due to be released in April. For the PTI’s first two years, the FBR’s growth remained flat as it stood at around Rs3,850 billion. —Ensure universal access to affordable food grains in all parts of the country by legislating the Right to Food as a fundamental right. 03 Jun 2023 09:47:08 float:none;
About 29 more universities were set up in the past five years. 1. Now the FBR was achieving double digit growth in the first 11 months of the current fiscal year and it was hoping to achieve its revised target of Rs4,691 billion till June 30, 2021. —The PML-N aims to achieve public spending of four percent and two percent of the GDP for education and health by 2018 to achieve the targets set by the United Nations. But what's more important is that the PML-N increased indirect taxes and the overall ratio of direct and indirect taxes did not change. In 2014, foreign investment stood at US$4.44 billion, with a 36 percent reduction in the subsequent year to US$2.83 billion and consistent declines thereafter. Close to the end of its term, the government added around 11,000MW electricity to the national system with continuous power supply to the industrial sector. A visible progress was also seen on bringing down the inflation to single digit, which was mainly because of the overall low global inflationary environment. PML-N government from July 2013 to June 2018 Received US$ 49.762 billion as foreign loans Repaid US$ 27.071 billion as debt servicing Net inflow US$ 22.691 billion Taylor Swift Used Matty Healy As Rebound After Joe Alwyn Breakup? Nadia Hussain’s reel with Faisal Naqvi goes viral! But only six of them have been achieved so far. The public debt rose by Rs10,000 billion in five-year term of PMLN and stood at Rs24,952 billion. ISLAMABAD: The economic performance of the incumbent PTI-led regime varies during the three-year tenure in comparison with the last five-year term of PMLN as official data shows that the N-League performed well on GDP growth, fiscal deficit including FBR’s tax collection and controlling inflation.
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