National Economic Transformation Plan
The government is set to unveil the National Economic Transformation Plan for the next five years on Tuesday, according to Planning Minister Ahsan Iqbal.
This announcement was made during a ceremony for the 47th Specialized Training Programme of the Pakistan Administration Service in Lahore, as reported by Radio Pakistan. Iqbal emphasized that the plan addresses several crucial areas that must be tackled for Pakistan to develop and progress in the future.
The National Economic Transformation Plan is a comprehensive strategy aimed at revitalizing the country’s economy and securing long-term growth.
In a briefing conducted in 2022, Iqbal had outlined a four-point strategy proposed by the previous administration. The core objectives of this plan include boosting exports, attracting foreign investment, improving the tax-to-GDP ratio, and addressing the ongoing challenges posed by state-owned enterprises that are running at a loss.
Earlier this year, Prime Minister Shehbaz Sharif also stressed the importance of a well-rounded five-year strategy to double Pakistan’s exports.
He underscored the need for collaboration across various sectors, directing the Ministry of Trade to develop a strategy in consultation with successful entrepreneurs and industry stakeholders. This collaborative approach aims to strengthen Pakistan’s position in international trade by focusing on export-driven growth.
Iqbal highlighted the importance of redirecting Pakistan’s resources towards fostering an export-driven economy.
He also pointed out the need to advance in emerging sectors such as e-commerce, automation, nanotechnology, and artificial intelligence, which he believes will transform the country’s economic landscape.
He further stressed the necessity of integrating Pakistan’s human resources with these emerging technologies to remain competitive globally.
The minister also called on civil servants to fully utilize their skills and capabilities in addressing public issues, emphasizing that civil service should be viewed as a significant responsibility rather than just a job.
This focus on the capabilities of the public sector is seen as a vital component in the government’s broader efforts to drive economic transformation.
