FOREWORD The unequivocal verdict given by the people of Pakistan in favour of the leadership of Mian Muhammad Nawaz Sharif has seen the transformation of the country into new dimensions of economic development. We have promised to the nation that we will not disappoint it. Pakistan today is way ahead of where it was in June 2013. International, multilateral, bilateral and financial institutions have reposed tremendous confidence in Pakistan’s economic future due to the policies adopted by the Government. Growth has surpassed all estimates of the international agencies. GDP for the outgoing fiscal year increased to 4.14 percent, the highest level achieved since 2008-09. Other economic indicators are also showing positive results. The country’s ranking is improving and the international community is now considering Pakistan a better market for investment. This turnaround is due to the Government’s economic reform agenda. Notwithstanding major progress made in many areas and improving macroeconomic environment, Pakistan still faces many challenges. Prominent among those include sustainability of economic reforms, increasing investment to sustain higher economic growth, reducing poverty, improving social indicators and improving the financial health of the public sector enterprises. The democratically elected Government is fully cognizant of the challenges ahead and is committed to the reform agenda. This is a defining moment in our history. The economy is at the take-off stage and, going forward, sustaining high economic growth accompanied by macroeconomic stability, improving the lives of the common man, investing in human capital and improving governance will be the central objectives of our medium-term policy. Pakistan Economic Survey 2013-14 has reviewed the progress in the light of recent major developments. I am sure that this document will serve as a source of invaluable reference for all stakeholders including parliamentarians, policy-makers, academia and international development partners. Preparation of the Survey requires a lot of hard work spread over many weeks. The team in the Finance Division, led by the Economic Adviser, that burnt the midnight oil to bring out this Survey deserves to be commended for its efforts.
Senator Mohammad Ishaq Dar Minister for Finance, Revenue Economic Affairs, Privatization and Statistics Islamabad, the 2nd June, 2014.