The government failed to achieve investment and savings targets, and the pace of the economy also remained slow

The government failed to meet any of its three major economic targets in the current fiscal year, namely economic growth, investment and national savings. According to the data of the Ministry of Planning, the investment-to-GDP ratio was 14.4 percent, which is lower than the target of 14.7 percent and the same as last year, meaning there was no improvement. The national savings rate fell further and the economic growth rate was 3.7 percent, which is insufficient to create employment opportunities for the youth.

The institutions set up to attract foreign investment also failed to yield significant results.

The Sovereign Wealth Fund has not become functional despite the passage of three years and the IMF had raised objections to its law, on which an amendment bill was presented in the National Assembly, but the Senate committee postponed the vote. The Special Investment Facilitation Council has also not been able to attract large foreign investment. Exports recorded a decline of more than 6 percent in the first ten months and the government is now considering whether to implement the second phase of trade liberalization from July or not, because imports increased in the first phase but exports did not.

However, some sectors showed good figures. Investment in the construction sector increased by more than 60 percent, Information and Communication increased by 110 percent, and the 97 percent increase in manufacturing in the public sector was due to the National Radio Telecommunication Corporation.

Meanwhile, there was good news. Pakistan issued a Panda Bond for the first time in China's Capital Market, on which investment offers were received 5 times more than the original amount. The government called it an expression of global confidence in economic recovery, but experts say that this bond is ultimately a debt and Pakistan's credit rating is not yet capable of raising capital easily from global markets.