The economy on average grew since 2008-09 at 2.94%. During FY12 and FY13 the power shortage became so severe that it wiped out 2% from our GDP. A
Agriculture is central to economic growth and development in Pakistan. Being the dominant sector it contributes 21.4 percent to GDP, employs 45 percent of the country’s labour force and contributes in the growth of other sectors of the economy. Overall agriculture development strategy revolves to foster private sector-led development with public sector providing enabling environment through policy interventions and play capacity building role to improve agriculture related practices.
economic survey 2013
During 2012-13, agriculture sector exhibited a growth of 3.3 percent on the back of nominal growth in agriculture related sub sectors, Crops grew at 3.2 percent, Livestock 3.7 percent, Forestry 0.1 percent and fishing 0.7 percent. The agriculture subsector which included important crops, other crops, grew by 2.3 percent and 6.7 percent, cotton ginning declined by 2.9 percent. Important crops accounted for 25.2 percent of agricultural value added and has experienced a growth of 2.3 percent in fiscal year 2012-13 against growth of 7.4 percent in 2011-12. The lower growth in important crops is attributed to decline in production of rice and cotton by 10.0 percent and 4.2 percent, respectively.
Other crops that contributed 12.3 percent value addition in agriculture witnessed a positive growth of 6.7 percent in 2012-13 against negative growth of 7.7 percent during the same period last year. The cotton ginning under new base 2005-06 has been included in agriculture value addition showed a negative growth of 2.9 percent in 2012-13 against the positive growth of 13.8 percent during the same period last year. The Livestock sector which has a 55.4 percent share in the agriculture grew by 3.7 percent in 2012-13. The Fishing sector grew by 0.7 percent as against last year’s positive growth of 3.8 percent. Forestry sector posted a nominal growth of 0.1 percent this year as compared to growth of 1.7 percent last year.
Keeping in view the increasing demand of credit has provisionally set an indicative agriculture credit disbursement target of Rs 315.0 billion during 2012-13 as against Rs. 285.0 billion fixed last year. Out of which Rs. 220.2 billion was allocated to Commercial Banks, Rs. 72.0 billion to Zarai Taraqiati Bank Limited (ZTBL), Rs. 13.8 billion to Microfinance Banks (MFBs), and Rs. 9.0 billion to Punjab Provincial Cooperative Bank Limited (PPCBL).During (July-March), 2012-13, banks’ disbursement to the agriculture sector surged by 17 percent year-on-year basis i.e. Rs 231.0 billion or 73.0 percent of the target, Rs. 315.0 billion as compared to the disbursement of Rs 197.4 billion of last year.
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Source: Ministry of Finance
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