Economic Performance of PPP, PML-N & PTI since 2008

Economic PerformanceEconomic Performance of PPP, PML-N & PTI since 2008

By Mati Ullah Khan

Pakistan has been governed by all mainstream political parties since last one-and-half decade; however, it could never overpower the shackles of economic instability and in fact the Country now remains on the verge of default.

   

It would be unfair to pin a blame of the dismal state of economic affairs on a particular political party; hence, it’s been years of incompetence and directionless approach, pushing the Country to become heavily dependent on foreign assistance and an import-led economy.

In such scenario, Pakistan remains extremely vulnerable to the global situation. The below-given Fiscal Year (FY) financial statistics also implies that whenever the world witnessed an economic slowdown caused by 2008 global recession, COVID-19 or Russia-Ukraine conflict, Pakistan’s economy went into turmoil.

Yet the internal mismanagement, incompetence, financial malpractices, political instability, and natural disasters like floods have also been responsible to intensify Pakistan’s economic woes over the years.

Economic Performance of PPP, PML-N & PTI since 2008Political Parties’ tenures:

Pakistan People’s Party (PPP): From March 25, 2008 to March 24, 2013
Pakistan Muslim League-Nawaz (PML-N): From June 05, 2013 to May 31, 2018
Pakistan Tehreek-e-Insaf (PTI): From August 18, 2018 to April 04, 2022:
Pakistan Democratic Movement (PDM): From April 11, 2022 to date

 

Growth: GDP, Industrial, Agriculture & Services Sector:

Ruling Party
Fiscal Year
GDP Growth*
Industrial Growth**
Agriculture Growth**
Services Sector Growth**

Base Year: 2005-06 = 100

PPP

2008-090.4%-5.21%3.50%1.33%
2009-102.6%3.42%0.23%3.21%
2010-113.6%4.51%1.96%3.94%
2011-123.8%2.55%3.62%4.40%
2012-133.7%0.75%2.68%5.13%

PML-N

2013-144.1%4.53%2.50%4.46%
2014-154.1%5.18%2.13%4.36%
2015-164.6%5.69%0.15%5.72%

Base Year: 2015-16 = 100

2016-174.61%4.61%2.22%5.62%
2017-186.10%9.18%3.88%5.95%

PTI

2018-193.12%0.25%0.94%5.0%
2019-20-0.94%-5.75%3.91%-1.21%
2020-215.77%7.81%3.48%6.0%
2021-226.10%6.83%4.27%6.59%
PDM***2022-23-0.17%-3.76%2.25%0.07%

*https://www.pbs.gov.pk/sites/default/files/tables/national_accounts/2021-22/Table_6.pdf

**https://www.finance.gov.pk/supplement_2021_22.pdf

**https://www.finance.gov.pk/Supplement_2020_21.pdf

***https://www.pbs.gov.pk/sites/default/files/press_releases/2023/Press%20release%20for%20107th%20NAC%20Meeting%20Final.pdf

Revised GDP for FY 2021-22 -(https://www.finance.gov.pk/survey/chapters_23/01_Growth_and_Investment.pdf)

 

Employment:

Ruling Party
Fiscal Year
Employed Labor Force*
Unemployed

PPP

2008-0952.86 million1.4 million jobs annually3.05 million
2009-1053.76 million3.16 million
2010-1154.40 million3.44 million
2011-1255.80 million3.53 million
2012-1356.58 million3.76 million

PML-N

2013-1456.52 million1.14 million jobs annually3.58 million
2014-1557.42 million3.62 million
2015-16
2016-17
2017-1861.71 million3.79 million

PTI

2018-1964.03 million1.84 million jobs annually4.71 million
2019-20
2020-2167.25 million4.51 million

Note: The Labour Force Survey was not conducted in the years 2011-12, 2015-16 and 2016-17.

*https://www.finance.gov.pk/survey/chapter_22/PES12-POPULATION.pdf

URL Link: https://www.finance.gov.pk/survey/chapter_22/PES12-POPULATION.pdf

Inflation & Fiscal Deficit:

Ruling Party
Fiscal Year
CPI Inflation*
Fiscal Deficit
(% of GDP) ***

Base Year: 2005-06 = 100

PPP

2008-0917.0%5.2
2009-1010.1%6.2
2010-1113.6%6.5
2011-1211.0%8.8
2012-137.3%8.2

PML-N

2013-148.6%5.5
2014-154.5%5.3
2015-162.8%4.1

Base Year: 2015-16 = 100

2016-174.8%5.2
2017-184.6%5.8

PTI

2018-196.8%7.9
2019-2010.7%7.1
2020-218.9%6.1
2021-2212.2%7.9

PDM

2022-2329.2%**3.6 (July-March)

* https://www.finance.gov.pk/supplement_2021_22.pdf

**https://finance.gov.pk/economic/economic_update_July_2023.pdf

***https://www.finance.gov.pk/survey/chapters_21/04-Fiscal.pdf

Also Read: Inflation in PML-N governments

Also Read: Inflation in PPP governments

Tax Collection, Expenditures & Revenues:

Ruling Party
Fiscal Year
Net Tax Collection*
Total Expenditures
Total Revenues

PPP

2008-09Rs 1,161.2 billionRs 2,531 billionRs 1,850 billion
2009-10Rs 1,327.4 billionRs 3,007 billionRs 2,078 billion
2010-11Rs 1,558.0 billionRs 3,447 billionRs 2,252 billion
2011-12Rs 1,882.7 billionRs 4,327 billionRs 2,566 billion
2012-13Rs 1,946.4 billionRs 4,816 billionRs 2,982 billion

PML-N

2013-14Rs 2,254.5 billionRs 5,026 billionRs 3,637 billion
2014-15Rs 2,590.0 billionRs 5,387 billionRs 4,446 billion
2015-16Rs 3,112.5 billionRs 5,796 billionRs 4,446 billion
2016-17Rs 3,367.9 billionRs 6,800 billionRs 4,936 billion
2017-18Rs 3,843.8 billionRs 7,488 billionRs 5,228 billion

PTI

2018-19Rs 3,828.5 billionRs 8,345 billionRs 4,900 billion
2019-20Rs 3,997.4 billionRs 9,648 billionRs 6,272 billion
2020-21Rs 4,745.0 billionRs 10,306 billionRs 6,903 billion
2021-22Rs 6,148.5 billionRs 13,295 billionRs 8,035 billion

PDM

2022-23Rs 7,169 billion **Rs 10,016 billion (July-March)Rs 6,938 billion) (July-March)

* https://www.fbr.gov.pk/revenue-collections/142253/131355

**https://www.finance.gov.pk/economic/economic_update_May_2023.pdf

 

Exports, Imports, Trade Deficit & CAD:

Ruling Party
Fiscal Year
Exports*
Imports*
Trade Deficit*
Current Account Deficit (CAD)***

PPP

2008-09US$ 19.1 billionUS$ 31.7 billionUS$ 17.1 billionUS$ 9.2 billion
2009-10US$ 19.7 billionUS$ 31.1 billionUS$ 15.4 billionUS$ 3.9 billion
2010-11US$ 25.4 billionUS$ 35.8 billionUS$ 15.6 billionUS$ 214 million (Surplus)
2011-12US$ 24.7 billionUS$ 40.4 billionUS$ 21.2 billionUS$ 4.6 billion
2012-13US$ 24.8 billionUS$ 40.2 billionUS$ 20.4 billionUS$ 2.5 billion

PML-N

2013-14US$ 25.1 billionUS$ 41.7 billionUS$ 19.9 billionUS$ 3.1 billion
2014-15US$ 24.1 billionUS$ 41.4 billionUS$ 22.1 billionUS$ 2.8 billion
2015-16US$ 21.9 billionUS$ 41.1 billionUS$ 23.8 billionUS$ 4.9 billion
2016-17US$ 22 billionUS$ 48 billionUS$ 32.4 billionUS$ 12.2 billion
2017-18US$ 24.8 billionUS$ 55.7 billionUS$ 37.5 billionUS$ 19.1 billion

PTI

2018-19US$ 24.3 billionUS$ 51.9 billionUS$ 31.8 billionUS$ 13.4 billion
2019-20US$ 22.5 billionUS$ 43.6 billionUS$ 23.1 billionUS$ 4.4 billion
2020-21US$ 25.6 billionUS$ 54.3 billionUS$ 28.6 billionUS$ 2.8 billion
2021-22 **US$ 32.5 billionUS$ 72.2 billionUS$ 39.1 billionUS$ 17.5 billion

PDM

2022-23 ****US$ 27.9 billionUS$ 52.0 billionUS$ 24.1 billion

US$ 2.6 billion

*https://na.gov.pk/uploads/documents/questions/6421556b1616d_302.pdf

**https://www.finance.gov.pk/economic/economic_update_July_2022.pdf

***https://www.finance.gov.pk/Supplement_2020_21.pdf

****https://www.finance.gov.pk/economic/economic_update_May_2023.pdf

 

Remittances, FDI & External Debt & Liabilities:

Ruling Party
Fiscal Year
Remittances*
Net Foreign Direct Investment (FDI)**
Pakistan’s Total External Debt and Liabilities***

PPP

2008-09US$ 7.8 billionUS$ 3.71 billionUS$ 52.3 billion
2009-10US$ 8.9 billionUS$ 2.15 billionUS$ 57.4 billion
2010-11US$ 11.2 billionUS$ 1.63 billionUS$ 66.4 billion
2011-12US$ 13.1 billionUS$ 820 millionUS$ 65.5 billion
2012-13US$ 13.9 billionUS$ 1.45 billionUS$ 60.9 billion

PML-N

2013-14US$ 15.8 billionUS$ 1.69 billionUS$ 65.6 billion
2014-15US$ 18.7 billionUS$ 1.03 billionUS$ 65.1 billion
2015-16US$ 19.9 billionUS$ 2.39 billionUS$ 73.9 billion
2016-17US$ 19.3 billionUS$ 2.40 billionUS$ 84.4 billion
2017-18US$ 19.9 billionUS$ 2.78 billionUS$ 95.2 billion

PTI

2018-19US$ 21.7 billionUS$ 1.36 billionUS$ 106.3 billion
2019-20US$ 23.1 billionUS$ 2.59 billionUS$ 113.0 billion
2020-21US$ 29.4 billionUS$ 1.82 billionUS$ 122.2 billion
2021-22US$ 31.3 billionUS$ 1.86 billionUS$ 130.1 billion

PDM

2022-23US$ 27.0 billionUS$ 427.1 million

*https://www.finance.gov.pk/supplement_2021_22.pdf

**https://www.sbp.org.pk/departments/stats/PakEconomy_Handbook/Chap-7.11.pdf

**https://www.pc.gov.pk/uploads/report/Monthly_FDI_Feb_FY21.pdf

***https://www.finance.gov.pk/supplement_2021_22.pdf

***https://www.sbp.org.pk/reports/annual/arFY11/Domestic_External_Debt.pdf

**** https://www.finance.gov.pk/survey/chapters_17/09-Public_Debt.pdf

****https://www.sbp.org.pk/reports/annual/aarFY22/Chapter-05.pdf

Also Read: Details of foreign loans taken & repaid in PTI and PML-N regimes

Foreign Exchange Reserves:

Party
Period
Net Reserves with State Bank of Pakistan
Country’s Liquid Foreign Exchange Reserves

PPP*

 

March 25, 2008

To

March 24, 2013

US$ 8.57 billion (2007-08)US$ 11.39 billion (2007-08)
US$ 7.12 billion (March 29, 2013)US$ 12.20 billion (March 29, 2013)

PML-N**

June 5, 2013

To

May 31, 2018

US$ 6.28 billion (June 7, 2013)

US$ 11.44 billion (June 7, 2013)
US$ 9.51 billion (May 2018 end)

USS$ 15.09 billion (May 2018 end)

PTI***

August 18, 2018

To

April 10, 2022

US$ 9.88 billion (August 2018 end)US$ 15.39 billion (August 2018 end)
US$ 11.42 billion (March 2022 end)

US$ 17.03 billion (April 08, 2022)

PDM****

April 11, 2022

To Date

US$ 11.42 billion (March 2022 end)*****US$ 17.03 billion (April 08, 2022)
US$ 4.1 billion (May 26, 2023)

US$ 9.5 billion (May 26, 2023)

*https://www.sbp.org.pk/ecodata/FER/index.asp

**https://www.sbp.org.pk/reports/stat_reviews/bulletin/2018/Dec/ExternalSector.pdf

***https://www.sbp.org.pk/reports/annual/arFY19/Stats/Eng/Chapter-9.pdf

****https://www.sbp.org.pk/ecodata/forex.pdf

*****It’s worth noting that just a month ago (by February 2022 end) before the former Prime Minister Imran Khan was ousted through a Vote of No Confidence, the foreign exchange reserves with SBP stood at US$ 16.38 billion and the total were US$ 22.63 billion.

URL Link: https://www.sbp.org.pk/ecodata/forex.pdf
Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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