2011-12 Economic Survey to be launched today

ISLAMABAD: The Economic Survey of Pakistan for the outgoing year 2011-12 will be launched here today. Federal Minister for Finance Dr. Abdul Hafeez Shaikh will launch the pre-budget document, highlighting the overall performance of economy during the out-going fiscal year, providing a realistic feedback and basis for planning. The survey covers the development of all the important sectors of economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities. The survey also highlights the performance of education, health and nutrition, besides showing the overall population, labour force and employment, poverty, transport and communication. It also assesses the issues of environment, contingent liabilities, tax expenditure as well as economic and social indicators. Meanwhile, the government has approved Rs.873 billion for Public Sector Development Programme (PSDP) 2012-13, with 360 as Federal component. The growth for the next fiscal year has been projected at 4.3 percent where as estimated growth rate for the ongoing year would be 3.7 percent. The Consumer Price Index Inflation is expected to be around 11 percent during the year as against 13.7 percent during the previous year. Official in the Ministry of Finance told APP that all arrangements have been finalized to launch the Economic Survey 2011-12 today at the P-block auditorium at about 3 pm. Meanwhile, the Federal Budget for the upcoming fiscal year 2012-13 is scheduled to be presented before the two houses of the parliament simultaneously on June 1, Friday. Federal Minister for Finance, Dr. Abdul Hafeez Shaikh has already indicated that the budget would be people friendly, growth and employment oriented and would have no “unpleasant surprise” for the taxpayers. He has also indicated that the government would not put any additional burden of taxes on the existing taxpayers during the upcoming budget for the fiscal year 2012-13 instead efforts would be made to bring non-filers under the tax net for the prosperity of the country.