ISLAMABAD: Undeterred by the failures of development projects in the past, the government is working on the agenda of ‘Vision 2035’ and ‘Vision 2047’, the Planning Commission has launched a study aimed at accelerating the socio-economic development of the country. A roadmap for development is to be developed.
The study, which will identify policy choices that the country’s leadership may need to make in consultation with all stakeholders and adopt a roadmap for accelerated development, will be completed in a few months.
A steering committee consisting of top economists, representatives of the private sector and research institutes of the country was formed to oversee the initiative. The Chief Economist of the Planning Commission will coordinate the exercise.
Minister for Planning and Development Ahsan Iqbal while presiding over a meeting here on Sunday said that the study will be launched in early 2023 and will serve as a precursor to developing Pakistan’s Vision 2035 and Vision 2047. will do He said: “Pakistan’s economy needs fundamental structural changes and the development of a new model of export-led growth. This can only be achieved by following a consistent policy framework for at least a decade.”
Minister says economy requires structural changes,
formulation of new export-led growth paradigm
The minister claimed that the country is on track to achieve the goal of joining the world’s top 25 economies by 2025 in 2017-18, as launched in 2014 under the Pakistan Muslim League-Nawaz government. Pakistan Vision was set in 2025, but “change of government” caused a major turning point in 2018.”
Unfortunately, he added, continuity of policies was discarded and the previous government took a path of infighting and reversals that eroded investor confidence and progress.
Almost four years later, “we inherited a country close to economic bankruptcy”, the minister said.
He said that the first priority of the Pakistan Muslim League (N) government is to bring economic change and stability in the country and restart the journey of national development.
“Pakistan Outlook 2035 will help us understand where we are now and where we are headed, if we do business as usual after a decade and a half,” he said.
During the meeting, all members of the Planning Commission were asked to complete the study together with the relevant stakeholders in their respective fields. It also decided to set up a steering committee to oversee the initiative.
Pakistan Outlook 2035 will define future needs and target based on the previous vision’s seven pillars, which include developing human and social capital. Achieving sustainable, local and inclusive development, democratic governance, institutional reforms and public sector modernization; energy, water and food security; Private sector and entrepreneurship-led development; development of a competitive knowledge economy through value addition; and modernization of transport infrastructure and greater regional connectivity.
In each case, the needs assessment and goal setting will be based on two scenarios: a business-as-usual scenario and an aspirational or transformational scenario.
In order to gradually achieve concrete progress in key areas of socio-economic development, the study will assess the emerging needs and define interventions required in each area on an immediate, mid-term and long-term basis. It will also take into account the enabling and inhibiting factors in the process.
For example, in health and education we need to anticipate ahead of time what new facilities and staff we need in light of growing populations and scarce resources. It is only on the basis of such assessment that we can optimally utilize existing human and material resources and mobilize new ones,” said Chief Economist Dr Nadeem Javed.
The Pakistan Outlook 2035 strategic document will be aligned with the 17 Sustainable Development Goals (SDGs) of the United Nations, ranging from poverty alleviation to climate change, on which the government will achieve credible progress by 2030. is committed to
The findings and recommendations of the study will be shared with the political leadership to build a national consensus on how to steer the country towards sustainable economic prosperity despite economic and political uncertainties along the way.
