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.
