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Economy expands 4.09pc in FY10

Source : DAWN

According to the figures presented to the NAC, the overall manufacturing sector performed well and recorded a growth of 5.1 per cent this fiscal year compared with negative growth of 3.7 per cent in 2008-09.

ISLAMABAD: The National Accounts Committee (NAC) on Tuesday noted that the country’s real gross domestic product (GDP) grew by 4.09 per cent in 2009-10 against the target of 3.3 per cent.

The Large Scale Manufacturing (LSM) expanded by 4.3 per cent in 2009-10 against the negative growth of 8.2 per cent the previous fiscal year.

The NAC meeting was held in the Planning Commission Auditorium and chaired by the deputy chairman Planning Commission to review the performance of the key sectors.

The committee was informed that the latest figures showed electricity and gas consumption recorded a growth of 7.8 per cent in 2009-10.

The per capita income had been determined at Rs35,216 on constant prices while the per capita income based on current prices would be determined in few days, an official of the Planning Commission said.

The meeting was informed that the overall agriculture growth had been estimated at two per cent in 2009-10 compared with four per cent growth in 2008-09.

However, the major crops recorded a marginal negative growth of 0.2 per cent in the current fiscal year compared to 7.3 per cent growth last fiscal year.

Similarly minor crops also witnessed as negative growth 1.2 per cent in the ongoing fiscal compared with negative growth of 1.7 per cent in the last fiscal year.

However, production in the livestock sector rescued the agriculture sector and livestock production had been recorded at 4.1 per cent compared with a positive growth of 3.5 per cent 2008-09.

The construction sector witnessed growth of 15 per cent against the negative growth of 11.2 per cent in the last year.

The services sector which had been a key contributor to GDP growth for several years posted a growth of 4.6 per cent in 2009-10 compared with 1.6 per cent growth in 2008-09.