ISLAMABAD - Planning Commission has suggested growth target of 3.3 percent for the next fiscal, 2009-10 to be considered by Annual Planning Coordination Committee (APCC) scheduled to meet tomorrow (Friday). According to the official documents available to TheNation and Waqt News TV, the Annual Plan (AP)for the next fiscal said that the growth target of 3.3 percent would entirely depend on the performance of three major sectors, which are: agriculture, manufacturing and services sectors. In proposed plan the Planning Commission said that the prospects for economic growth in next year hinge crucially on revival of the manufacturing sector, which has reached a state of crisis. The annual plan scheduled to be presented on May 22 said that the monetary expansion would be in line with the projected GDP growth of 3.3 percent, while the government has set another ambitious target of CPI inflation at 9 per cent target against the expected 20 percent in the ongoing fiscal year. While the trade deficit for the next fiscal is estimated at $8.8 billion with $ 19.9 billion export and imports to decline to $28.7 billion, from $30.2 billion in current fiscal year. The current account deficit has been estimated at $9.5 billion that is also close to $9.4 billion for the current fiscal year and the remittances are expected to stand at $7 billion next year. The estimate that in the fiscal 2009-10 growth in the agriculture sector would be 3.8 percent, in agriculture major crops growth rate projected at 3.5%, livestock 4%, fishries 2.4% and forestry at 1%. In manufacturing sector growth projected at 1.8% and that in the services sector would be 3.9 percent. The planning commission estimates that the GDP at current market prices would increase by 10 percent in next fiscal. However, the plan said that the real challenge for the government would be to revive the manufacturing sector that has shown negative growth of more than 7.7 per cent during the first nine months of the ongoing fiscal. The growth in manufacturing sector is estimated at 1.8 percent but it would be possible on smooth supply of energy to the industrial sector as well as provision of incentives for export competitiveness. Large scale manufacturing is targeted to grow by 1 percent against the negative growth in ongoing fiscal. The services sector is likely to grow by 3.9 percent with whole sale and retail trade growing by 3.3 per cent and finance and insurance by 3 per cent. The total investment in the next fiscal is expected to be 20 percent of the GDP. National saving is projected to be 14.7 percent, implying that almost 74 percent of investment would be finance through national saving. This will leave 26 percent of investment to be financed from foreign saving which would be 5.3 percent of the GDP. The total investment has been projected at 19 percent in current financial year against 21.2 percent last year in line with the trends in GDP growth. The total public sector investment is expected at 4.7 percent of GDP and the national saving has been projected at 13.6 percent during the current financial year against 12.9 percent last year. The annual papers said that the government plans to encourage private sector credits in the next fiscal and the government borrowings would remain limited. It said that the competitiveness of the export industries would be improved through interest rate and exchange rate policy.