Economic Survey - I

Indeed, the new government has inherited a woefully bad economy, according to Pakistan Economic Survey, fiscal year 2012-13 started with continuous problems of power and gas shortages along with other internal and external challenges. The Survey has made an interesting disclosure that the energy crisis deepened presenting a paradoxical situation. While generating capacity is reported 20,000MW, actual generation remains far below the demand resulting in a nation-wide long hours' loadshedding.
The circular debt kept on increasing despite injections of the government, which built pressure on fiscal side. Similarly, the working of PSEs also deteriorated resulted in further supplementing the burden on budget. The adverse impact of these economic difficulties was further compounded by the ongoing war against extremism which continued unabated and not only on one hand caused irreparable loss to the economy but wiped out mental peace and harmony among the masses of the country. It is perhaps because of this major reason that PPP faced a major defeat in 2013 general election. But the outgoing government failed to deliver in any sector.