The federal government has developed a five-year plan to revive the country’s economy under the supervision of a British economic expert, sources said on Sunday.

The proposed economic agenda, dubbed the ‘Stefan Dercon Plan’, is expected to be unveiled on August 14. He is a professor of economic policy at the University of Oxford.

The plan aims to steer Pakistan’s economic growth, with a target of 6% annual GDP expansion by 2028. The roadmap also outlines strategies to boost exports to $60 billion by 2028 through policy reforms.

Key elements of the plan include:

• Prioritising private investment and export growth

• Projecting the creation of one million new jobs annually through successful implementation of reforms

• Proposing measures to reduce energy costs and business expenses

• The plan also suggests transferring technology from China and promoting joint ventures to further enhance exports.

• It recommends increasing the tax-to-GDP ratio to 13.5% and investment-to-GDP ratio to 15%.

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Sources added that the political stability was crucial for the successful execution of the proposed economic agenda.