Various sectors of the economy play a vital role in the overall economic growth of a country. Sectors including finance, business, education, health, industries, agriculture, etc are the building blocks of the economy.
In Pakistan, the private business sector and especially the agriculture sector has a crucial role to play and the dynamics are unavoidable. Although, the current government is telling the nation that the economy is taking a positive turn but the data given by the representatives of the government and State Bank are quite contradicting.
Private sector: According to Asad Umar, there have been seen rising statistics in the credits from the private sector during recent days. He tweeted that the credit off take this year is Rs.360 billion as compared to Rs.110 billion last year. But the story doesn’t end here. A report given by state bank concludes a deceleration in economic activity and rising inflation.
Agriculture sector: according to the data given by government officials, agriculture credit in Jul-Nov is Rs 212 billion this year and it was RS.156 billion last year. Yet, state bank reported that the major crop output has declined including the service sector handling agriculture. Shortage of water and rising prices of fertilizers has weakened the agriculture sector as well.