EMBASSY OF PAKISTAN 4

Major crops registered negative growth of 3.0 percent as against an

impressive positive growth of 8.3 percent last year and target for the year at

4.5 percent.

􀂃 Cotton production at 11.7 million bales in 2007-08 has decreased by 9.3

percent in comparison to 12.9 million bales of last year.

􀂃 Wheat production is estimated at 21.7 million tons in 2007-08 as against

23.3 million tons last year showing a decrease of 6.6 percent.

􀂃 Rice production has increased from 5.4 million tons in 2006-07 to 5.6

million tons in 2007-08 showing an increase of 2.3 percent.

􀂃 Sugarcane production has increased by 16.8 percent in 2007-08 from 54.7

million tons in last year to 63.9 million tons in 2007-08.

􀂃 Total off-take of fertilizer remained flat (0.5 percent) as nitrogen offtake

increased by 11.4 percent while that of phosphate and potash decreased by

25.3 and 33.3 percent, respectively during July - March 2007-08.

􀂃 Livestock exhibited improvement in growth from 2.8 percent last year to 3.8

percent in 2007-08.

􀂃 Agriculture credit disbursement of Rs 138.6 billion during July-March

2007-08 is higher by 24.6 percent over last year [Rs 111.2 billion].

MANUFACTURING & MINING

􀂃 Overall manufacturing, accounting for 18.9 percent of GDP, registered a

modest growth of 5.4 percent against 8.2 percent last year.

􀂃 Large-scale manufacturing, accounting for 70.0 percent of overall

manufacturing, registered a growth of 4.8 percent in 2007-08 against the

target of 10.9% and last year’s achievement of 8.6%.

􀂃 Construction continued its strong showing, partly helped by activity in

private housing market, spending on physical infrastructure, and

reconstruction activities in earthquake affected areas. The construction

sector is estimated to grow by 15.2 percent in 2007-08 as against

extraordinary growth of 17.9 percent last year.

􀂃 Mining and quarrying sector has registered a growth rate of 4.9 percent as

against a target of 4.5 percent and 3.0 percent last year.

FISCAL OPERATION

􀂃 Fiscal Deficit is likely to be Rs 683.4 billion or 6.5 percent of GDP against

target of Rs 398 billion or 4 percent of GDP ---the highest in last ten years.

􀂃 Total revenues collected during the current year stood at Rs 1545.5 billion,

higher than the targeted level of Rs 1476 billion. This increase of Rs 69.5