Pakistani PM Launches National Economic Transformation Plan
Date
12/31/2024 3:11:18 PM
(MENAFN- Kuwait News Agency (KUNA))
ISLAMABAD, Dec 31 (KUNA) -- Prime Minister of Pakistan, Mohammad Shehbaz Sharif on Tuesday launched "Uraan Pakistan", a five-year National Economic Transformation plan for the country.
Addressing the launching ceremony here in Islamabad, PM Sharif said that this plan is aimed at steering the country toward sustainable growth from macroeconomic stability.
He also stressed the need for reducing the cost of inputs like electricity and gas to ensure sustainable growth.
He emphasized that local industry should be made more compatible to save foreign exchange and expand exports, adding that export-led growth is the only option to make Pakistan a stronger economy.
Sharif said the government has set an investment target of USD 10 billion annually and an enabling environment is being created to attract local investment as well.
He highlighted that privatization and outsourcing are vital to save huge losses for which political dialogue is utmost necessary.
On the occasion, Pakistan's Finance Minister Mohammad Aurangzeb said that the National Economic Transformation plan is aimed at attaining a sustainable GDP growth rate of 6 percent by 2028, one million jobs annually, and USD 10 billion private investments per year.
He further said that this plan is accompanied by a comprehensive implementation mechanism to hit the export target of USD 60 billion by fiscal year 2028. (end)
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