960408

GDP growth rate

set to touch 6.4 pc

NADEEM MALIK

ISLAMABAD: The Gross Domestic Product (GDP) has been estimated to grow by 6.4 percent as against the target of 6.5 percent during 1995-96.

According to latest provisional figures available, growth in agriculture has been estimated 6.7 percent as against target of 6.2 percent, in industries exactly according to the target of 7.5 percent and in services 5.6 percent as against the target of 6.1 percent.

A big cotton crop of 10.8 million bales and a large growth in energy sector have helped achieving this dream figure.

Sector wise detail of GDP growth is as follows:

AGRICULTURE: Rs 141201 million as against the target of Rs 136175 million, Major crops Rs 63893 million as against the target of Rs 61375 million, Minor crops Rs 25471 million as against the target of Rs 23385 million, livestock Rs 45252 million as against the target of Rs 45205 million, Fishing Rs 5468 million as against the target of Rs 5040 million, Forestry Rs 1117 million as against the target of Rs 1170 million.

Production of wheat is estimated 17500000 tons, rice 3810000 tons, sugarcane 47300000 tons, maize 1306000 tons and cotton 10.8 million bales.

INDUSTRY: Rs 152519 million as against the target of Rs 155186 million, mining and quarrying Rs 2971 million as against the target of Rs 2780 million. Manufacturing Rs 104146 million as against the target of Rs 105591 million, Construction Rs 22018 million as against the target of Rs 23095 million, Electricity and gas distribution Rs 23384 million as against the target of Rs 23720 million.

SERVICES: Rs 276694 million as against the target of Rs 277356 million, Transport and communications Rs 55925 million as against the target of Rs 57544 million, Trade Rs 93423 million as against the target of Rs 92023 million, Banking and Insurance Rs 13370 million as against the target of Rs 13343 million, Ownerships and Dwellings Rs 31435 million as against the target of Rs 31435 million, Public Administration and Defence Rs 35743 million as against the target of Rs 36213 million, Others Rs 46798 million as against the target of Rs 46798 million.

The total GDP growth according to provisional figures is Rs 570414 million as against the target of Rs 568717 million, which is 6.4 percent as against the target of 6.5 percent.