3 YEARS of PTI’s Goverment Performance Audit

Since PTI came into power, foreign investment is shrinking because of their backbiting on CPEC and treacherous campaign of money laundering against Pakistan at several forums of the world.

 Starting from the economic growth of 5.5%, achieved back in 2018, PML-N added $84 billion in its 5 years; whereas, the PTI government dragged the whole economy down to $264 billion with negative growth of -0.4% in FY-20, and as per forecast of IMF, the current year’s GDP will not be more than 1.5%.
PTI was also celebrating the fact that Pakistan’s economy was not as affected as our regional players were by COVID-19. However, they forgot to mention that the GDP forecast remains unmatchable despite being significantly affected by the Coronavirus.

PTI criticized the previous government by claiming the GDP growth was consumption-led growth and was financed through debts only. This is not the truth. Large-scale manufacturing grew 25% on a cumulative basis in 5 years. On the other hand, LSM contracted by 2.28% in 2019 and further by 10.2% in 2020, under the PTI government. In the current year Jul-Nov-20, the PTI government showed LSM growth of 7.4% with an average QIM of 143.3 points. However, even this QMI is 2.5% less than the average QMI of FY-2018 i.e. 146.92. As far as imports as imports are concerned, PTI’s economic hit man told the nation back in 2018 that Pakistan’s economy cannot survive with a $5 billion import bill. But they never told the reason for the high import bill, that GDP was growing at 5.8% because the industry was

growing. LSM growth of 2018 was at 5.3% and power projects were being developed; when an industry grows the import bill rises, yet they kept criticizing like rain. But in Dec-2020 the
import bill crossed $5 billion even though the growth forecast by the World
The bank is 0.5%, with no major power plant or CPEC related import underway, the overall industry is performing at a low scale as compared to FY-2018.

In the last year of the PML-N government, foreign investments were at $4990 million but the
PTI government dragged it down to negative -$55 million in FY-2019. In FY-2020, foreign
investments remained just $2038 million. Even in the current year, net foreign investments were only $515 million, which decreased by 72% as compared to the previous period.