The Federal Minister for Planning Development & Special Initiatives has said that the country’s economy is in recovery mode after taking tough decisions while stressing political stability and continuity in policies to achieve long-term economic goals.
The Minister made these remarks at the launching of the “One Year Growth Strategy for Pakistan,” organized by Pakistan Institute of Development Economic (PIDE). The event was attended by the Secretary Planning Commission, Additional Secretary, Vice Chancellor, PIDE Nadeem Ul Haq, and others.
Speaking at the occasion, the Minister appreciated PIDE for launching the report and asked them to conduct evidence-based research which helps the policy makers to take better decisions in the best interest of the country.
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Professor Iqbal said that there was no dearth of policy formulation in Pakstan’s 75 years history, However, inconsistency in policies execution and political instability impeded the developmwnt and Growth in the country.
Development is contingent upon continuity in implementation of policies as every developed country witnessed the growth after executing the policies persistently for 10-years. said the Minister while urging the key stakeholders to focus on governance.
We are going to celebrate the 75th Anniversary of independence and this is the time we can turnaround Pakistan by focusing on key areas like Tax collection, Remittance, Foreign Direct Investment and exports adding that Economic Growth goes hand in hand with Foreign Direct Investment and leap frog jump in export sector,
said the Minister.
The Minister further added that unfortunately, Pakistan could not achieve productivity increase in agriculture sector and its a big challenge to achieve self sufficiency in this sector again which is backbone of the country’s economy adding that Small and Medium Enterprise sector will be promoted as engine of growth to put the economic growth on growth trajectory